Answer:
a. Course of performance, course of dealing, usage of trade.
Explanation:
Parol evidence are oral agreements not in written format. These are agreed orally and the therefore its enforceability is sometimes difficult it either party refuses to accept the oral agreements as there is no physical evidence supporting the statements agreed.
Answer:
1. Debit Revenue: $600
Credit Account receivable: $600
2. Debit Merchandise: $350
Credit Cost of good sold: $350
Explanation:
On March 12, when sold merchandise to Babson Company, Klien Company must record their revenue and cost of the marchandise by 2 entries:
1. Debit Account receivable: $7,800
Credit Revenue: $7,800
2. Debit Cost of good sold: $4,500
Credit Merchandise: $4,500
On March 15, when received return marchandise, Klein must record to reduce their revenue and cost of good sale by 2 entries as the answer. This is matching concept in accounting.
A lender practice that would be an indication of predatory lending would be bundling unneeded life insurance premiums into the mortgage.
<h3>What is predatory lending?</h3>
This is a practice by some lenders where they loan money to people with low credit worthiness with the intention of making back a lot of money from charging those people outrageous interest rates.
When life insurance premiums that are unnecessary are added to the mortgage, it is done to increase the amount that Kristen will pay back. This is therefore predatory lending.
In conclusion, option B is correct.
Find out more on predatory lending at brainly.com/question/1821936.
Answer:
1621 Shares
Explanation:
Calculation to determine how many more shares must you buy to be assured of earning a seat on the board
First step is to determine the shares needed
Shares needed = [1/4 (8,200) + 1]
Shares needed= 2050 + 1
Shares needed= 2051
Now let determine how many more shares must you buy
Buy =2051 -430
Buy= 1621 shares
Therefore how many more shares must you buy to be assured of earning a seat on the board will be 1621 Shares
Answer:
Credit to the PBO for $13,500
Explanation:
Defined benefit pension plan is a pension structure adopted by a company in which an employee is guaranteed payments in the future for example after retirement. Since the payments are given far into the future, complex calculations are required to compute how to account for annual expenses and changes in pension obligation.
Now, under the above plan, the amount of the future benefits that will be paid for by the company depends on a multitude of factors such length of time served, an employee lifespan. The annual expense needs to match the recognition of the related expense in the period in which the particular employee renders the service for which they will be paid in the future.
So, the formula for Periodic (Annual) Pension Expense is Interest Costs (Interest incurred on the beginning Projected Benefit Obligation) + Service Costs (Present Value of the projected retirement benefits earned in the current period) - Actual Return on Plan Assets (the returns provided by the assets held under the Company's pension plan) + Amortization of Prior Service Costs (changes to pension expense as a retroactive amendments to the pension plan) +/- Amortization of Actuarial Gains or Losses (the change in the PBO as a result of changes in assumptions used to calculate the PBO).
The question provides us with the interest costs, the services costs, and the expected return on plan assets with other costs being nil.
Therefore, annual pension expense is Service Costs + Interest Costs - Expected Return on Plan Assets = 18,500 + 5,500 - 10,500 = 13,500.
The journal entry is a credit to the PBO of the amount of the expense and a debit to the Pension Expense. Note that the difference between ending PBO and beginning PBO is NOT equivalent to annual expense since other items such as company's contribution and changes in fair value of the liability also impact the PBO.
