Answer:
Dr Lawsuit Expense 305,090
Cr Lawsuit Liability 305,090
Dr Lawsuit Loss 112,720
Cr Lawsuit Liability 112,720
Explanation:
Preparation of Journal entries
Based on the information given we were told that Buchanan had to paid the amount of $305,090 for damages which means that the Journal entry will be:
Dr Lawsuit Expense 305,090
Cr Lawsuit Liability 305,090
Based on the information given we were told that he was considering to establish the amount of $112,720 as a self insurance allowance which means that the Journal entry will be:
Dr Lawsuit Loss 112,720
Cr Lawsuit Liability 112,720
Answer:
B. n/a (200) 200 200 n/a 200 n/a
Explanation:
A purchase discount is a contra-expense account which has a credit balance. Expenses have normal debit balances, so a credit balance will decrease the expenses incurred by the company.
E.g. you paid $100 within the discount period (2% discount)
Dr Accounts payable 100
Cr Cash 98
Cr Purchase discounts 2
This transaction doe snot affect assets, but it will decrease liabilities by $200 and increase R.E. by $200. Since this is a contra expense account, it will increase revenue and net income. It doesn't generate any additional cash flows.
I believe that the answer is Financial Management
Answer:
Eminent domain for the public good.
Explanation:
He charged the branch manager because he didn't see eminent domain for public use.
In eminent domain the government, the government the government has the power to take private property for public use.
The bank is a public place and as such are required to have a public domain that is members of the public or for civic use. Such a party is likely going to be for public use or it could be delegated to third parties.
Answer:
me its amazing wonderful delightful and miraculous.
