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3 years ago

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

Business

2 answers:

zysi [14]3 years ago

6 0

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

cluponka [151]3 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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Hulse Company had the following transactions pertaining to stock investments. Feb. 1 Purchased 600 shares of Wade common stock (

kicyunya [14]

Answer:

(a)

Dr. Cr.

Feb 1

Investment $7,200

Cash $7,200

Jul 1

Cash $600

Dividend Income $600

Sep 1

Cash $4,300

Gain on sale $700

Investment $3,600

(b) Dividend will be shown as other income in the revenue section of Income statement. Gain on sale of common share will be reported on income statement after operating profit.

Explanation:

Per Share Purchase Price = 7200 / 600 = $12

300 Shares Purchase Price = $12 x 300 = 3,600

8 0

3 years ago

Using the information provided, analyze the affects of Lawry Lawn Service's transactions on the accounting equation.

Arlecino [84]

Answer:

Common Stock $3,400 (credit)

Mower $1,600 (debit)

Revenue Service $1,000 (credit)

Cash $2,600 (debit)

Gas Expense $100 (debit)

Dividends $0

Explanation:

See below the posting i have done to the ledger accounts.

Mower T - Account

Debit :

Accounts Payable $1,600

Credit :

Balance c/d $1,600

Revenue Service T - Account

Debit :

Balance c/d $1,000

Credit :

Account Receivable $1,000

Cash T - Account

Debit :

Common Stock $3,400

Credit :

Gas Expense $100

Dividends $700

Balance c/d $2,600

Gas Expense T - Account

Debit :

Cash $100

Credit :

Balance c/d $100

Dividends - T Account

Debit :

Shareholders for dividends $700

Credit :

Cash $700

7 0

3 years ago

The following facts apply to the pension plan of Culver Inc. for the year 2017. Plan assets, January 1, 2017 $495,100 Projected

tiny-mole [99]

Answer and Explanation:

The preparation of pension worksheet is shown below:-

General Journal entries

Particulars Annual pension Cash Pension Assets/

expenses Liabilities

Service cost $43,700 Dr.

Interest cost $39,608 Dr.

(495,100 × 8%)

Actual return $52,100 Cr.

Contributions $26,600 Cr.

Journal Entry 31 Dec $31,208 Dr. $26,600 Cr. $4,608 Cr.

Balance 31 Dec 217 $4,608 Cr.

Memo record

Projected benefit obligation Plant assets

Balance Jan 1 2017 $495,100 Cr. $495,100 Dr.

Service cost $43,700 Cr.

Interest cost $39,608 Cr.

(495,100 × 8%)

Actual return $52,100 Dr.

Contributions $26,600 Dr.

Benefits $36,500 Dr. $36,500 Cr.

Balance 31 Dec 217 $541,908 Cr. $537,300 Dr.

4 0

3 years ago

The table below shows a summary of Kaitlin's credit card statement for the month of February.

den301095 [7]

Answer:

A) 32 percent interest B) Yes it will be paid

Explanation:

23 times 42 divided by 7

6 0

3 years ago

In San Francisco there are many restaurants that specialize in a wide variety of cuisines. Patronage at these restaurants is inf

Verdich [7]

In San Francisco, there are many restaurants that specialize in a wide variety of cuisines. Patronage at these restaurants is influenced by factors such as tastes, price, and location. This market is option (b) i.e, monopolistically competitive.

<h3>What is monopolistically competitive?</h3>

An industry with a lot of companies offering similar (but not identical) replacement goods or services is known as one with monopolistic competition. In a monopolistic competitive industry, there are few barriers to entry and exit, and no firm's decisions directly affect those of its rivals.

Monopolistic competition is characterized by a number of features.

slight variations in the goods and services,
Free access to the market and exit
many businesses
Profits from incomplete consumer knowledge

Consumer electronics, apparel, restaurants, and hair salons are a few examples of industries with monopolistic competition. Each business delivers goods that are comparable to those of other businesses in the same sector. They can, however, set themselves out through branding and marketing.

To know more about monopolistic competition refer to: brainly.com/question/13686157

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6 0

2 years ago