Answer:
The correct answer is 2) Inseparability.
Explanation:
There is the talk of inseparability when a product is sold to a customer for use, and the customer generates the relationship between the sales and consumption processes to qualify the service or product as good or bad. Since for the customer the way they treat it while buying the product or making use of it, it is relevant to take into account the quality of the product.
For example, in the case mentioned above, the person considers that by not providing efficiently the help he needed to get a job, he relates that if this service is terrible in the same way his university experience was since there is an inseparability as for these services.
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Answer:
The dollar amount for ending inventory using the last-in-first-out method of inventory valuation is $50
Explanation:
Using LIFO,last-in-first-out method of inventory valuation,items received last into the store are deemed to be sold first, hence the sales of 10 units on March 1 was the inventory purchased on February 28, leaving the items of inventory purchased on January 3 as closing inventory
value of closing inventory using LIFO=10*$5=$50
Answer:
Notes Receivable for $1,000. Cash for $1,010. Interest Revenue for $5. Interest Receivable for $5.
Explanation:
The journal entry to record the receipt of the payment is shown below:
Cash Dr $1,010
To Interest receivable $5 ($1,000 ×6% × 30 days ÷ 360 days)
To Interest revenue $5
To Note receivable $1,000
(being the receipts is recorded)
here cash is debited as it increased the assets and credited the interest receivable, interest revenue and note receivable as it increased the assets and revenue accounts
Answer:
Explanation:
Base on the scenario been described in the question, Molander can only recover against the assets of the limited
partnership and its corporate general and limited partners. He cannot recover against Calvin
Raugust personally. Under limited partnership law, a limited partnership is liable on its own
contracts; in addition, the general partner is individually liable for the debts and obligations of a
limited partnership. Limited partners may be held liable for the obligations of the limited
partnership if the limited partnership has been defectively formed. Otherwise, limited partners’
liability is limited to their capital contribution to the limited partnership.
