Answer and Explanation:
The Journal entry is shown below:-
1. Sales Revenue Dr, $42,030
Rent Revenue $300
To Salaries and Wages Expense $21,600
To Depreciation Expense $1,300
To Utilities Expense $4,220
To Insurance Expense $1,400
To Rent Expense $6,000
To Income Tax Expense $2,900
To Retained Earnings $4,910
(Being closing of revenues and expenses is recorded)
2. Retained Earnings Dr, $300
To Dividends $300
(Being closing of dividend is recorded)
Answer:
Date, bonds sold at a premium
Dr Cash 5,500,000
Cr Bonds payable 5,000,000
Cr Premium on bonds payable 500,000
Explanation:
The total face value of the bonds is $1,000 x 5,000 bonds = $5,000,000
since the bonds were sold at 110, their price was $5,000,000 x 110% = $5,500,000
the difference between the face value and the actual market price = $5,500,000 - $5,000,000 = $500,000 must be recorded as premium on bonds payable (increases the bonds' carrying value)
Answer: The correct answer is A) The subsidiary revalues assets and liabilities to their fair values as of the acquisition date.
Explanation: Push down accounting is used when a company buys another company. This type of accounting revalues the assets and liabilities of the acquired company at a fair value on the date of acquisition.
Crosby signs a contract with Subban and agrees to meet at Subban's business at the conclusion of each work day, before the first payment is due, and then files a lawsuit against Subban, claiming that the license is unenforceable because the license's objective is to protect the public.
<h3>What is contract?</h3>
A contract is the legal agreement between the two parties. It contains all the essentials of section 10. On the breach of such contract, the party who break the contract will be punishable under the act.
Crosby and Subban have a contract in which Crosby agrees to sweep Subban's retail store at the end of each work day. Subban discovers Crosby is unlicensed before the first payment is due.
All retail floor sweepers in Florida are required to be certified and pay annual dues.
As a result, Subban does not compensate Crosby for his efforts. When Crosby s pursues a breach of contract complaint against Subban to court, the judge will conclude the contract is invalid since the purpose of the license is to protect the public.
Therefore, the contract is unenforceable.
Learn more about the contract, refer to:
brainly.com/question/2669219
#SPJ1
The correct answer is C) implementation.
Gemini Inc. has prepared a market plan for its air conditioners. The managers at Gemini have outlined several activities for their subordinates based on a marketing plan. The employees are required to finish these activities within specific time frames. The managers have also allocated a budget for each activity. In the context of marketing planning, the concept that illustrates the scenario is<u><em> implementation.</em></u>
When talking about the marketing plan, the first stage in the planning where managers establish the goals, the strategies and tactics to reach those goals. Those strategies and tactics come to reality in the implementation stage, when management gives every department and employee the activities they need to do in order to accomplish the goals. The implementation is the operative part that has to be done in the allocated time and within the budgetary restriction to fulfill the programs and accomplish goals.
