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2 years ago

Which of the following examples is NOT a trust indorsement?

Business

1 answer:

konstantin123 [22]2 years ago

7 0

Answer:

a. Rao indorses his payroll check in blank.

Explanation:

There are many types of indorsements, and out of them one is "Trust Indorsement"

Trust Indorsement is an indorsement to a person who can use the funds for the benefit of the indorser.

Example:

Brian indorses a check to his employee Denny "Payable to Denny, as agent for Brian", This is an example of trust indorsment.

Option b and c are clearly examples of trust indorsements in which you can notice that Rao has indorsed his lawyer and accountant "as agent for Rao".

Whereas, option a is NOT a trust indorsment but rather a "Blank Indorsement"

Blank Indorsment is an indorsement that doesn't have any particular indorsee and only has a signature on it.

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Through conscious repetition of information, we can encode information for long-term storage. this is known as _____.

Iteru [2.4K]

This is known as rehearsal.

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2 years ago

The owner has been considering ways to increase the sales volume. The owner thinks that 10 comma 000 pizzas could be sold per mo

almond37 [142]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

The owner thinks that 10,000 pizzas could be sold per month by cutting the selling price per pizza from $ 5.50 a pizza to $ 5.00.

Total revenues – Total costs = Monthly profit 5,000 pizzas 13750 – 8000 =

I will assume that at $5.50 the total sales in units are 5000. And that the variable cost per unit is $2.75 ($13750/5000) and fixed cost are $8000

Actual profit= (5000*5.5- 5000*2.75) - 8000= $5750

New price profit= (10000*5 - 10000*2.75) - 8000= $14500

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2 years ago

Mill Company began operations on January 1,2017, and recognized income from construction-type contracts under different methods

ANTONII [103]

Answer:

i. Deferred income taxes balance on December 2019 is $192,500

ii. Deferred tax asset.

Explanation:

Year Tax purpose Book purpose Difference Deferred tax book

2017 $400,000 $0 $400,000 $140,000

2018 $625,000 $375,000 $250,000 $87,500

2019 $750,000 $850,000 ($100,000) ($35,000)

Deferred tax asset balance on December 2019 = $192,500

Working

Deferred tax book

2017 = 400,000 * 35% = $140,000

2018 = 250,000 * 35% = $87,500

2019 = (100,000) * 35% = ($35,000)

ii. Book income is less than tax income in 2017 and 2018. Deferred tax asset would be accounted. Book income is higher than tax income in 2019. Deferred tax asset would be reverse (i.e. deferred tax liability). Balance at the end of December 31, 2019 would be Deferred tax asset.

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2 years ago

When units are moved from one processing department to the next, the cost associated with those units must also be moved from o

KonstantinChe [14]

These costs called as Transferred costs.

<h3>Explanation:</h3>

The costs that are accumulated during the time of upstream production process in a firm refers to Transferred costs. These are associated with the goods that are transferred to the next department of a business from one department. With this product there will be a continuation of the production process.

These are semi finished goods that are transferred for the purpose of continuing the production process. When these units are moved form the processing department to the next department, these transferred cost will be transferred from one work in process account to the next account.

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2 years ago

Ten years ago, Cary Company issued $1,500,000 of 7 percent, 10-year bonds at a price of 95. On the maturity date of January 2, a

vampirchik [111]

Answer:

Debit Bonds Payable for $1,500,000

Credit Cash for $1,500,000.

Explanation:

Although this bonds were issued at a discount, but the Discount on Bonds Payable account will have zero balance on the day of maturity because of the entry that has been made on each interest payment date.

Therefore, the necessary journal entry for January 2, 2019 to complete is as follows:

Debit Bonds Payable for $1,500,000

Credit Cash for $1,500,000

This entry will appear as follows:

Date Name of Account DR ($) CR ($)

02 Jan '19 Bond payable 1,500,000

Cash 1,500,000

(To record retirement of 10-year bonds at maturity.)

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3 years ago