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Romashka [77]
3 years ago
8

Seven months ago Able helped Baker to prepare and file the complaint and summons in a lawsuit Baker was pursuing against Chuck.

Baker recently told Able that based on this assistance Baker would now pay Able $500. Able agreed but Baker has not paid the money. Able is entitled to payment and may enforce Baker’s promise in court.
a. True
b. False
Business
1 answer:
adell [148]3 years ago
7 0

Answer:

A true

Explanation:

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"which expenses would most likely be classified as prepaid expenses (asset) rather than accrued expenses (liability)?"
MakcuM [25]

Expenses likely to be classified as prepaid expense (asset) are Prepaid Rent & Insurance Premiums. Enter a prepaid rent payment on the balance sheet as an asset until the month when the company is actually using the facility to which the rent relates, and then charge it to expense.   Any insurance premium costs that have not expired as of the balance sheet date should be reported as a current asset such as Prepaid Insurance.


8 0
3 years ago
Read 2 more answers
The partnership agreement of Jones, King, and Lane provides for the annual allocation of the business's profit or loss in the fo
Pani-rosa [81]

Answer:

Mr. J = $27,000

Mr. K = $24,000

Mr. L = $39,000

Explanation:

Partnership for the year 2018 = $90,000

Profit/(Loss) to be distributed:

= Partnership for the year 2018 - Bonus to Mr. J - Interest on average capital investment

= $90,000 - [20% × $90,000] - {(15% × $100,000) + (15% × $200,000) + (15% × $300,000)}

= $90,000 - $18,000 - [$15,000 + $30,000 + $45,000]

= ($18,000) ⇒ Loss

Loss to be allocated to each partner = ($18,000) ÷ 3

                                                             = ($6,000)

Therefore, the profit of $90,000 should be assigned to each partner is as follows:

Mr. J = $18,000 + $15,000 + ($6,000)

        = $27,000

Mr. K = $30,000 + ($6,000)

         = $24,000

Mr. L = $45,000 + ($6,000)

        = $39,000

7 0
3 years ago
You are considering borrowing $10,000 for 3 years at an annual interest rate of 6%. The loan agreement calls for 3 equal payment
madam [21]
Hello! The answer would be D. $3,741. I hope this helps!
4 0
3 years ago
Cyclical unemployment: a) rises during recession. b) falls during recession. c) rises during expansion. d) is a part of natural
dimulka [17.4K]

Cyclical unemployment: rises during a recession

<h3><u>What is Cyclical unemployment ?</u></h3>
  • Cyclical tendencies in growth and output, as shown by the GDP, that take place throughout the economic cycle are what are meant by cyclical unemployment.
  • Cyclical unemployment is defined by economists as the situation that arises when firms don't have enough demand for labor to hire all people who are searching for work at that particular stage of the business cycle.
  • There may be a commensurate decrease in supply output to make up for a loss in demand for a good or service.
  • To fulfill the lower norm of production volume, fewer workers are needed when supply levels are cut.
  • The corporation will discharge any employees who are no longer required, which will result in their unemployment.

To learn more about Cyclical unemployment, refer to:

brainly.com/question/14227610

#SPJ4

6 0
1 year ago
5. What is one of the main benefits of volunteering with community organizations while you are still in high school?
LenaWriter [7]

\huge{\textbf{\textsf{{\color{pink}{An}}{\red{sw}}{\orange{er}} {\color{yellow}{:}}}}}

Ur answer is... 4) You will be paid for your time and give you the benefit of saving money for your career education and training

ig this is the best benefit...

  • thanks
  • Hope it helps.
4 0
3 years ago
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