Answer:
The correct answer is $13.900.
Explanation:
To carry out the verification balance, the nature of the accounts presented in the normal balance of the organization must be taken into account. We have that the assets and income have a debit nature, so it is necessary that the corresponding to that premise are:
Accounts receivable $ 1,800 - Active
Insurance expenses $ 1,300 - Expenses
Prepaid insurance $ 2,000 - Expenses
Land $ 3,000 - Active
Cash $ 3,200 - Assets
Salary Expenses $ 1,400 - Expenses
On the other hand there are accounts that despite being of a credit nature, have credit movements as a result of ordinary activities, which would be:
Dividends: $ 1,200 - Debit nature liability
TOTAL DEBITS: $ 13,900
Well 162,80 divided by 8,000 is 2.035 so thats going to be your answer hope this helps
Answer: condition precedent
Explanation: In simple words, a condition precedent refers to the set of affairs or contract that are necessary to happen in a contract or else no contractual duty will arise on both sides of the contract. Thus it can be considered as a contract that must occur.
In the given case, the real estate contract arise on the condition that the buyer sells his current home or otherwise no contract exist. Hence this act could be considered as condition precedent.
Answer:
The correct answer to the following question is option A) contributory negligence .
Explanation:
The given above case where the CPA has responsibility of 20% in the fraud and company has 80% of the responsibility , then with the help of contributory negligence approach to liability , CPA would be able to avoid the liability completely .
Contributory negligence can be termed as the failure on the part of accuser ( plaintiffs ) to exercise a reasonable care of their safety. Here as per the universal law, the amount of compensation that plaintiff might receive would decrease if their actions have led to the increase in the likelihood of the incident .
Answer:
The adjusting entries are shown below:
Explanation:
The journal entries are shown below:
a. Bad debt expense $85,230
To Allowance for doubtful debts $85,230
(Being the bad debt expense is recorded)
The computation is shown below:
= $5,682,000 × 1.5%
= $85,230
a. Bad debt expense $75,870
To Allowance for doubtful debts $75,870
(Being the bad debt expense is recorded)
The computation is shown below:
= ($5,682,000 + $5,682,000) × 1%
= $75,870
