Answer:
False
Explanation:
Caleb is liable for negligence if the accident wasn't caused by him, but was caused by another vehicle.
For negligence theory to be true in this case the following must happen;
1. Caleb must make a mistake
2. The mistake must cause damage to Duffy
3. The mistake must not be of catastrophe
Answer:
COGS 3807 debit
FG 7896 debit
WIP 2397 debit
Factory Overhead 14,100 credit
--to record the underapplication of overhead--
Explanation:
overhead rate:
$515,000 overhead / 515,000 labor cost = $1
each labor cost generates a dollar of overhead.
221,400 x 1 = 221,400 overhead in COGS
459,200 x 1 = 459,200 overhead in Finished Goods
139,400 x 1 = 139,400 overhead in WIP inventory
Total applied 820,000
Actual 805,900
Underapplied 14,100
Now we weight each concept and determiante the portion underapplocated in each concept
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When a bank's loans are written off, then the bank's RESERVES SHRINK WHEREAS ITS DEBTS REMAINS THE SAME. Sometimes, due to unpleasant situations, banks are forced to write off loans which they hand lend out to borrowers and which the borrower are unable to repay. This action reduces the amount of money that the bank has in its reserve.
Answer: FALSE
Explanation: The partnership agreement dissolves when any of the partners in the business dies or became bankrupt. Then the remaining partner or partners in the entity calculates whether the dissolving partner owed them money or are they obligated to pay his heir any amount.
After such calculations appropriate adjustments in different accounts are done accordingly.
