Answer:
c. drafting a contract illegally.
Explanation:
In the contracting process, a licensee must be careful to drafting a contract illegally. The licensee can be defined as an individual or group of people holding a license given to them by an authority or authorized agencies, to engage legally in an activity.
Hence, it is required by law that whatever the licensee does after the acquisition of a license must be legal and not a violation of standard rules, and policies of the state or society. Licensee are to abide by the terms and conditions of the license.
Answer:
The value of the stock = $19.64
Explanation:
According to the dividend valuation model, <em>the value of a stock is the present value of the expected future cash flows from the stock discounted at the the required rate of return.</em>
Year Workings Present value(PV)
1 $1 × (1.22) × 1.11^(-1) = 1.10
2 $1 × (1.22)^2 ×(1.11)^(-2) = 1.21
3 $1 × ((1.22)^2 × (1.05))/0.11-0.05) = 21.35 ( PV in year 2 terms)
PV (in year 0) of Year 3 dividend = 21.35 × 1.11^(-2)
= 17.33 (see notes)
<em>The value of the stock</em> = $1.10+ $1.21 + 17.3
= $19.64
Notes:
<em>Note the growth applied to year 3 dividend gives the PV in year 2 terms. So we need to re-discount again to year 0.</em>
<em />
The value of the stock = $19.64
The beginning balances should be entered in the general ledger as of April 30, 2017, as
follows:
A. Beg. Bal
Supplies
(Beg. Bal 500]
Equipment,
[Beg.Bal___ 24000]
‘Accounts Payable
72100 Beg. Bal
Notes Payable
110000 Beg. Bal
neared Service Revenue
1000 Beg. Bal
Common Stock
‘5000 Beg. Bal
Retained Earnings
11400 Beg. Bal
D.
Prepare the trial balance as follows:
PM Salonine.
Trial Balance
As on May 31, 2017
Account Titles Debit ($) Credit ($)
Cash 5100
Supplies 1200
Equipment 24000
‘Accounts Payable 1200
Unearned Service Revenue 1200
Notes Payable 10000
Common Stock 5000
Retained Earnings 11400
Service Revenue 6000
Salaries Expense 2400
Rent Expense 1000
Advertising Expense 500
Utilities Expense 400
Interest Expense 50
Income Tax Expense 150
Total 34800-34800
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Answer:
Retained earnings would be debited and inventory would be credited for $10 million each.
Explanation:
In the given scenario Al Dente Pasta Company overstated its inventory by $10 million.
This is an overstatement of assets of the company.
This also gives an understatement of the retained earnings of the company.
Adjusting entry in 2022 will now require Retained earnings would be debited and inventory would be credited for $10 million each.
Answer:
A. By setting it at a specific value based on another currency
Explanation:
