Answer:
<u>Journal 1</u>
Debit : Prepaid Expense $37,600
Credit : Cash $18,800
Credit : Insurance Expense $18,800
<u>Journal 2</u>
Debit : Dividends $18,000
Credit : Wages $18,000
Explanation:
Journal 1
The first error has to be corrected by debiting the Prepaid Expenses by twice the amount paid to cancel the effect of a credit entry made to that account. Cash is credited to show the correct credit entry that was supposed to be made. Insurance expense is credited to cancel the debit entry made to this account in error.
Journal 2
The error made is called error of principle. This is were the transaction is recorded in the wrong class of accounts. Simply, Debit the Dividends and credit the Wages Account to record and reverse the error out of the Wages Account into the Dividends Account.
Answer: Clickthrough rate
Source and explanation: <span>https://goo.gl/EfAAxu</span>
Answer:
Mitigate his damages
Explanation:
By law, mitigation involves making effort to reduce losses. Now, an individual claiming damages or losses due to break in contract or a wrongful act by another individual has a duty under the law to mitigate those damages. That is to say, the plantiff is under a duty under the law to reduce the loss by taking advantage of any opportunity arising that may help.redice the losses or damages. However, in this case, the plantiff, who's the landlord Henry did not mitigate the loss by not attempting to or renting the accommodation out for the remaining six month. Thus, the damages would likely be reduced because he failed to mitigate his damages as he should have done as required under the law.
Answer:
Free cash flow = $2.25 million.
Explanation:
We know,
Free cash flow = Operating income ×( 1 - tax rate) + depreciation - net working capital.
Given,
free cash flow = ?
Operating income = $2.75 million
tax rate = 40%.
depreciation = $1.20 million.
net working capital = $0.6 million.
Putting the values into the formula, we can get
Free cash flow = [Operating income ×( 1 - tax rate) + depreciation - net working capital] million.
Free cash flow = [$2.75 ×( 1 - 40%) + $1.20 - $0.6] million.
Free cash flow = ($2.75 × 0.6 + $1.20 - $0.6) million.
Free cash flow = ($1.65 + $1.20 - $0.6) million.
Free cash flow = ($2.85 - $0.6) million.
Free cash flow = $2.25 million.
