Answer: Brian and Sondra have, done nothing illegal
Explanation:
Brian and Sondra company are totally in their right, they are not directly involved in the poor fortunes of their competitors.
A rise in sales at Brian and Sondra company led to drop in the sales of their competitors leading to closure of their competitors businesses.
Cage company had a net income of $365 million and average total assets of $2,040 million. its return on assets (ROA) is 17.6%.
Net salary is the total net salary after deducting all taxes and other employee benefits. This is the amount deposited in your bank account that you can use for your budget and living expenses. Simply put, Gross Salary - Deductions = Net Salary.
Net income is the income of an individual or business after deducting expenses, allowances, and taxes. In commerce, net profit is what is left in the business after all expenses such as salaries and wages, cost of goods and raw materials, and taxes.
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<span>The speaker is using the fallacy of building on an unproven assumption. The speaker has made the assumption that the Japanese make the best stereo sound systems in the world. This is merely his/her opinion, and is not a proven fact. Thus, when the speaker bases another argument on that assumption, he has used a fallacy in reasoning.</span>
Answer:
Explanation:
The journal entry is shown below:
Bonds payable A/c Dr $640,000
Premium on bonds payable A/c Dr $23,970
Loss on bonds redemption A/c $8,030
To Cash A/c $672,000 ($640,000 × 1.05)
(Being the redemption of bond is recorded and the remaining balance is debited to the Loss on bonds redemption account)
The Premium on bonds payable is computed below:
= Carrying value of the bonds - face value of the bond
= $663,970 - $640,000
= $23,970
Answer:
Year end journal entries are given below in explanation
Explanation:
a. Company provided service to customer which means that company has earned revenue
Account Dr Cr
Accounts Receivable 2200
Sales/Revenue 2200
b. Wages expense have incurred but are not paid yet. Thus, its Liability should be booked.
Wages Expense 1200
Wages payable / Liability 1200
c. The company has taken loan from the bank. Interest due on the loan is 416 but are not paid yet.
Interest Expense 416
interest Payable 416
d. The company had contract for lawn service. To book the expense of lawn service
Lawn Service Expense 520
Lawn Service Payable 520
e. The company has also made some investment. $ 220 is earned on that investment. to book the non operating income
Interest revenue receivable 220
Interest revenue - Non operating income 220
f. Salaries of Supervisor is due on 31 st December but are not paid yet.
Salaries Expense 920
Salaries payable 920
