Answer:
22.98%
Explanation:
Here, the current entry means the ratio between the long term debt and the total assets
In mathematically,
= Long term debt ÷ total assets
where,
Total assets = Account receivable + cash + inventories + net fixed assets
= $397,400 + $47,500 + $288,000 + $999,000
= $1,731,900
And, the long term debt is $398,024
Now put these values to the above formula
So, the ratio would equal to
= $398,024 ÷ $1,731,900
= 22.98%
They need to make use that they log off when they leave their desk. Logging off is the most important part of being an employee or people that is employed to know that if you are still in on the job to be given to you and make sure to log off so that they will know not wrongly assign the task to you.
Answer and Explanation:
Material participation in the business is when involvement in the business activity exceeds 500 hours during the year. Furthermore, if the activity is a significant activity of participation and the number of aggregate hours worked in all such activities exceeds 500 hours per year, of that kind participation is also construed as material participation.
Therefore, the participation of John and Jeff would be considered as material.
The party which is entitled to sue Midwest for its failure to honor the terms of the contract is Laurelei because she is the contract beneficiary.
Basically, the life assurance policy is a policy which promises to pay the beneficiary of the life assured a certain sum after the death of the life assured.
Here, the contract of assurance is valid because Thiago ensures continuous payment of his premium.
Thus, Laurelei who is a beneficiary to Thiago life assurance is entitled to the sum assured because she is included in the contract terms as a beneficiary since the inception of the contract.
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<em>brainly.com/question/24332000</em>
Answer:
Debiting Interest Receivable for $400 and crediting Interest Revenue for $400
Explanation:
Based on the information given if the company.has a note receivable from Jewel Co for the amount of $80,000 in which The note matures in 5 years and bears interest of 6% which means that when Rose is preparing financial statements for the month of June. Rose should make an adjusting entry by :
Debiting Interest Receivable for $400
crediting Interest Revenue for $400
[($80,000 × .06)/12 ]
