Answer and Explanation:
The impact on the sale and the payoff the loan in an accounting equation is as follows:
But before that
The following journal entries should be recorded
Cash $60,000
To Land $40,000
To Profit on sale of land $20,000
(Being the sale of the land is recorded)
Loan Dr $15,000
To Cash $15,000
(Being the loan is paid)
Here the cash would increased by $5,000, the liabilities would decreased by $15,000 and equity would be increased by $20,000
The answer is organization.
<h3>What is the organization?</h3>
- An organization is a group of people who cooperate, such as a firm, neighborhood association, charity, or union. The term "organization" can describe a person, a group, a company, or the process of creating or developing anything.
- For instance, a corporation, a club, a charity, or a political party. According to an International Labour Organization report, the majority of these specialist schools are offered by nonprofit groups. Synonyms: group, company, party, body Additional words for the organization
- The organization includes task alignment with respect to the company's ultimate aim and the division of labor among personnel. It can also be referred to as the second-most significant managerial activity, coordinating employee efforts, acquiring resources, and fusing the two in support of organizational objectives.
- The four primary types of business entities are the LLC, the corporation, the partnership, and the sole proprietorship. Each of them is described in more detail below, along with how it relates to company law.
The organization has developed privacy principles for its members to impose constraints upon themselves in order to not infringe on the rights of the consumers.
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<span>The question is incomplete, here is the complete question which I previously came across;</span>
When Janice went to work as a hair stylist in Rick's beauty shop, she entered into an agreement with Rick, whereby, if she left she would not work for another beauty shop within 50 miles for 2 years. Rick trained Janice in a number of new techniques. After nine months, Janice was offered a great job down the street at a new beauty shop, quit Rick, and had a number of customers follow her down the street to her new job. Rick claimed that she had signed a contract and had no right to go to work at the new shop. Janice disagreed and told Rick that no judge in the country would enforce such an agreement. Janice told Rick that she was more worried about a customer, Treena, who was threatening to sue her because her hair turned green after Janice worked on it. Janice agreed that Treena's hair was damaged. Janice pointed out, however, that she told Treena that odd results could result from a dye attempt, and she required that Treena sign a contract releasing Janice from all liabilities before she did anything with Treena's hair. Treena, however, sued anyway. The agreement Rick and Janice entered into is referred to as?
The answer is, the agreement Rick and Janice entered into is referred to as "<span>covenant not to compete".</span>
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It is hard
to decide if a judge will implement a non-competition agreement. While the privileged insights of a business are important,
the law additionally puts value to a person's opportunity to seek after other
work. To be enforceable Courts more often than not require that a contract not
to compete be sensible. In California, non-competes are adequately unlawful
except if you are selling a business. Different states will implement a few provisions,
as a rule the trade secret protection, however not the work limitations.
