The final task in
designing a management information system (mis) is to provide information which
is useful in decision making purposes. Management information system is
computerized data base related to financial system. A management
information system (mis) is a widely used for
a three-resource system that is required for effective organization management.
Answer:
Dr Salaries expense $7,552
Cr Accrued salaries $7,552
Being entries to record salaries payable as at year end
Explanation:
When an expense is incurred but yet to be paid by an organization, the entries required are
Dr Expense (p/l)
Cr Accrued expense (B/s)
when payment is made
Dr Accrued expense (B/s)
Cr Cash account
Given that Zoey Bella Company has a payroll of $9,440 for a five-day workweek and the year ends on a Thursday. As such, the company as at 31 December has incurred salaries for 4 days. This has to be accrued for but first to calculate the amount
= 4/5 * $9,440
= $7,552
Hence adjusting entry required on December 31, assuming the year ends on a Thursday
Dr Salaries expense $7,552
Cr Accrued salaries $7,552
Being entries to record salaries payable as at year end
Answer:
No, because they violated the duty of care
Explanation:
Business judgement rule is a provision that protects the management of a business from frivolous legal action concerning the way it does business.
The court assumes that the management acts in good faith in its fiduciary role, standard of loyalty, prudence, and care.
Duty of care is breached when the management do not make reasonable effort to prevent injury or loss.
In this instance Signal board is not protected by the business judgement rule because they violated duty of care.
Although the offer by Burmah oil is above the valuation a month ago, the board did not bother to do a present valuation or find out if other companies want to buy the subsidiary at a higher price.
