Answer:
A.31-Jan
Dr Product Warranty Expense $30,825
Cr Product Warranty Payable $30,825
B. 15-Aug
Dr Product Warranty Payable $513
Cr Supplies $391
Cr Wages Payable $122
Explanation:
a. Preparation of the journal entry for the estimated warranty expense on January 31 for January sales Jan. 31
31-Jan
Dr Product Warranty Expense $30,825
(411,000*7.5%)
Cr Product Warranty Payable $30,825
b. Preparation of the journal entry for the August 15 warranty work
15-Aug
Dr Product Warranty Payable $513
($391+$122)
Cr Supplies $391
Cr Wages Payable $122
Answer:
b. A class of stock given in exchange for another class by the issuer to its existing stockholders without the issuer paying a commission.
Explanation:
As in this exchange and issue of stock no new stocks are issued as there is no commission involved as already issued shares are transferred, to another shareholders holding shares.
This ensures that only shares which affect the existing voting rights as in number they increase or decrease the the current voting share, and that the number of shares increase or decrease, are not required to registration.
Answer:
C. more than $300 billion.
Explanation:
option (C) because a decrease in gdp will be more than a decrease iin govt expenditure or a rise in govt tax, because of multplier effect.
The given statement is False.
This is an example
of kickbacks. This is a type of negotiated inducement in which a
commission is remunerated to the bribe-taker in payment for services accomplished.
In general, the payment for cash, goods, or services handed over is discussed in
advance or ahead of time.
Answer:
The correct option is b. de jure corporation.
Explanation:
A de jure corporation is a business that has fulfilled all the requirements mandated under the law of its state incorporation statute and has had limited liability protection granted to the corporation. De jure means "a matter of law," which validates the corporation as a legal entity.
It is created when steps are taken to incorporate, but not all of the statutes are in compliance. With a de facto corporation, it is not protected if the state challenges it in a "quo warranto" proceeding. It is protected against third parties.
Courts can decide on a finding of de facto if three requirements are met by the corporation:
• A statute must be in existence that allows legal incorporation.
• The corporation has attempted to comply with the statute, which is considered a good faith effort.
• There has been actual use or the exercise of the corporate franchise.
