A customer finds a bone in a boneless chicken

Ted is the owner and chief executive officer of a business. He recently began an advertising campaign to promote a new product t

Andreyy89

Answer:

The answer is "Option a"

Explanation:

In the given question only "option a" is correct, which can be described as follows:

He is the owner and managing director of an organization and recently he introduced media attention initiatives to encourage a specific app controlled by federal law.
Its law is rather ambiguous. He reviewed the relevant law before starting the initiative and met with his counsel in an attempt to comply with the rule. Even so, this state attorney general's office also filed a suit against him after misleading publicity.
He provides the best defense, which acted in good faith with proper research and in line with an unspecified rule.

8 0

3 years ago

On April 1, Lewis Company paid $14,400 for two years of insurance in advance. Lewis Company recorded the transaction by debiting

Dominik [7]

Answer:

31 Dec Expense A/c Dr. $5,400

To Prepaid Expense A/c $5,400

(Therefore, expense for the current financial year recorded)

Explanation:

We know that at the time of insurance paid in advance on 1 April for 2 years, entry was;

Prepaid Insurance A/c Dr. $14,400

To Cash A/c $14,400

Now at year end the expense relating to current period shall be recognized properly in the books, so that matching principle of revenue against expenses shall be matched.

Thus, period from 1 April to 31 December = 9 months

Expense for 9 months = $14,400 \times \frac{9}{24} = 5,400$

That means expense for the year = $5,400

Therefore, entry for such recording will be:

31 Dec Expense A/c Dr. $5,400

To Prepaid Expense A/c $5,400

(Therefore, expense for the current financial year recorded)

6 0

3 years ago

The Wheat Company has used the LIFO method for inventory valuation since the start of business 15 years ago. The current year en

yulyashka [42]

Answer:

Explanation:

Question 27

If Wheat Company had used the FIFO inventory method, income before income taxes would have been $75,000 higher in the current year. As inventory is an asset to the company. Therefore the $75,000 in inventory would have increased the company's asset and increasing the income before taxes.

Question 28

Other things held constant, which of the following will NOT affect the current ratio, assuming an initial Not yet current ratio greater than 1.0?

C. Accounts receivable are collected in cash.

Current ratio measures a company's ability to pay short-term obligations as at when due. It indicates that a company can manage its debts and other payable when their current assets is well managed.

It is calculated as Current Asset/ Current Liability. A ratio of 1 and above is the best meaning that a company an manage its debts obligations well.

3 0

3 years ago

Read 2 more answers

Ajax, Inc., issued callable bonds with a par value of $1,000,000 that require the payment of a call premium of $10,000. The bond

almond37 [142]

Answer:

bonds payable 1,000,000 debit

loss on redemption 20,000 debit

discount on bonds 10,000 credit

cash 1,010,000 credit

--to record tyhe call of the bonds on September 30th--

Explanation:

par value of the bonds: 1,000,000

call premium: <u> 10,000</u>

total cash disbusements: 1,010,000

carrying value 990,000

loss on redemption 20,000

<u>Notice: </u>It is a loss as we are paying more than the aliability is worth

discount/premium:

face value 1,000,000

carrying value 990,000

discount 10,000

We write off the bonds account: bond payable and bon discount

we debit the loss and credit hthe cash disbursments

8 0

3 years ago

Which of the statements below is FALSE?

Alecsey [184]

Answer:

C. The standard of one vote for each share cannot be altered.

Explanation:

Shares are sold to individuals that now obtain ownership rights of a company.

Common share holders are entitled to voting in of new board members and also have the ability to vote for changes in bylaws of the company.

Also common shareholders are shares have different classes with different voting rights.

However it is not true that the standard of one vote for each share cannot be altered.

When more shares are issued by a company it can result in dilution of shares. That means for example if a person has 10,000 shares in a company with 1 million shares, and the company now issues an extra 1 million shares making 2 million in total now.

The shareholder's standard of vote for each share is now halved

5 0

2 years ago