Answer:
a. Single
b. Compounding
Explanation:
Lump sums refers to a single payment that is made to a person or an organisation at a specified time. This is different from installment payment that is made as a number of smaller payments over a specified period of time.
Compounding refers to a method of reinvesting earnings or profits from assets or investment with aim of generating extra earnings over time.
Compounding is the foundation of Future Value (FV) as it considers the present value (PV) of an asset, the total number of years, how frequent the compounding takes place in a year, and the annual interest rate as given in the formula in the question which represented as follows:
FV = PV(1 + I)^N
Where;
FV = Future Value
PV = Present Value
I = annual interest rate
N = number of years
Therefore, single payments are known as lump sums. We can solve for the future value or the present value of a lump sum as we discuss below.
Finding the future value (FV), or compounding, is the process of going from today's values to future amounts.
Answer: D) As stated in our contract,we are liable to pay compensation only when our personnel repair the equipment
Explanation:
Based on the information given in the question, the best way to phrase the refusal of Marie's claim for adjustment is that "As stated in our contract, we are liable to pay compensation only when our personnel repair the equipment".
Since a service executive in the company discovers that the mower was dismantled by someone, then Marie's claim for adjustment can be refused since it wasn't dismantled by someone from the company.
Answer:
Yes, the company is liable because Jamal was on his work route and took a minor detour to pick shirts he needed for work.
Explanation:
Generally what determines if the company is liable or not for a car accident, is if the employee was acting within the scope of his/her normal employment activities. In this case, even though Jamal took a break to pick up some shirts for work, he didn't deviate form his normal activities and not even from his normal work route. He was actually coming back from making a delivery.
It would have been different if he had gone to a different neighborhood or downtown just to pick the shirts. You must also consider that Jamal drives the delivery truck 10 hours a day, and that doesn't leave him a lot of spare time for his own personal activities, and this particular one was also related to his work.
This situation is similar to an accident happening when a truck driver is stopping to go to the bathroom or eating something while travelling.
Answer:
Declaration date:
Dr retained earnings $26400
Cr dividends payable $26400
Payment date:
Dr dividends payable $26400
Cr Cash $26400
Explanation:
Total dividend declared is the number of shares multiplied by cash dividend per share
total dividend=$3*8,800=$26400
On the record date no entries are required since record date, is just about verifying the bonafide shareholders.
On declaration date,dividends payable would be credited with $26,400 while retained earnings is debited.
On payment date,dividends payable is debited and cash credited
