3 years ago

Experimenting with new ideas in the workplace is important

Business

2 answers:

IRINA_888 [86]3 years ago

7 0

Is this a true or false?

mina [271]3 years ago

7 0

The answer is agree and it is true

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Under _____ reserve banking, banks hold only a small portion of deposits in reserve, and they lend the rest

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It is called Federal Reserve Banking.

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3 years ago

James Corporation is an agent of Alten Corporation. Their agreement specifies that James will receive a commission equal to 15%

Alex

Answer:

$200,000

Explanation:

Given that

Commission = 15% of the sales price

Sales price of the goods = $200,000

So by considering the above information, the revenue should be recognized of $200,000 as it represents the sale price of the goods i.e revenue and the same is to be recorded in the books of accounts

Therefore, the commission percentage is ignored in this case

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Which of the following is necessary to resolve conflict? A. patience with the conflict resolution process B. willingness to enga

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Explanation:

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Riverwood Properties bought three lots in a subdivision for a? lump-sum price. An independent appraiser valued the lots as?

Law Incorporation [45]

Answer:

Explanation:

The cost allocation of each lot is presented below:

(A) (B) (A × B)

Lot Appraised Value Percentage Purchase value Allocated cost

Lot 1 $76,500 15% $355,000 $53,250

Lot 2 $229,500 45% $355,000 $159,750

Lot 3 $204,000 40% $355,000 $142,000

Total $510,000 100% $355,000

Now the journal entry would be

Land - Lot 1 $53,250

Land - Lot 2 $159,750

Land - Lot 3 $142,000

To Cash A/c $355,000

(Being the lots are purchased for cash)

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3 years ago

ABC opened for business on January 1, 2018, and paid for two insurance policies effective that date. The liability policy was $5

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Answer:

The balance in ABC's Prepaid insurance-account as on Dec 31, 2018 is <em>$27,000</em>

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Liability policy = ($54,000 / 18) × 6 months

Liability policy = $18,000

Crop damage policy = ($18,000 x 12 / 24)

Crop damage policy = $9,000

ABC's Prepaid insurance-account balance as on Dec 31, 2018 = $27,000

Thus,

Total Liability insurance period = 18

Now,

Expired period period - 12 months ( Jan 1, 2016 to Dec 31, 2016 )

Unexpired period = (18 - 12) months = 6 months

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