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2 years ago

Which of the following is an example of an agency relationship?

Business

2 answers:

zysi [14]2 years ago

6 0

The answer is : d: A client that ends a transaction with one business to start another

cluponka [151]2 years ago

4 0

Answer:

- Someone who negotiates on another’s behalf.

Explanation:

An agency relationship is when a person authorizes another one to act on his/her behalf when handling matters with another party. For example, a buyer's agent takes care of finding a property that adjusts to the buyer's requirements and then, negotiates the best terms on behalf of the person. According to this, the example of an agency reationship is someone who negotiates on another’s behalf.

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3 years ago

Read 2 more answers

Maywood, Inc. signs a $17,000, 8.5%, six-month note dated November 1, 2017. The interest expense recorded for this note in 20

exis [7]

Answer:

$241

Explanation:

Of the six month tenor of the note, the period that falls into 2017 is 2 months (that is, November 1 to December 31). In addition, by default, interest rates are stated on an annual basis except indicated otherwise. Therefore, it is assumed that 8.5% rate indicated in the question is an annual rate.

The computation of the interest that falls into 2017 is as follows:

= $Note Amount*interest rate*\frac{number of months in 2017}{12 months in a year}$

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= $240.83

= approx. $241.

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3 years ago

Sandhill Co. sells office equipment on July 31, 2017, for $22,430 cash. The office equipment originally cost $77,870 and as of J

vivado [14]

Answer:

Debit Depreciation expense account $4,580

Credit Accumulated depreciation $4,580

Being entries to recognize depreciation for the first 7 months of 2017

Explanation:

Given that depreciation for the first 7 months of 2017 is $4,580, the journals to update depreciation to July 31, 2017 is

Debit Depreciation expense account $4,580

Credit Accumulated depreciation $4,580

Being entries to recognize depreciation for the first 7 months of 2017 before disposal of the office equipment.

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2 years ago