Answer:
a) Notes payable = current liabilities
b) Unearned rent = current liabilities
c) Accounts payable = current liabilities
d) Taxes payable = current liabilities
Explanation:
Current Liabilities are Company`s Obligations that are due for settlement within a period of 12 months.
All the above Accounts are would be classified as current liabilities as settlement in cash or service <em>(when in comes to unearned rent)</em> is due within 12 months.
Answer:
72 percent
Explanation:
The computation of the Y's maximum possible utilization is given below:
In the case when the maximum output received from C is 72 units per hour so the maximum input rate to Y should also be 72 units per hour as X and Y are linked in series
So as per the given situation, Y's maximum possible utilization is 72 percent
The same should be considered and relevant
Answer:
Correct option is (d)
Explanation:
Owners contribute to capital in cash or kind in exchange for shares. Sometimes, owners contribute land or building to the organization in exchange for shares. Here, Jose Garcia contributes land worth $10,000 in exchange for 200 shares at $10 per share. Value of shares is $2,000 (200×10)
Journal entry to record the same:
Particulars Debit Credit
Land $10,000
Common stock $2,000
Paid in capital in excess $8,000
of par value
(To record land received in exchange
for shares)
Paid in capital in excess of par value of shares is credited which is $8,000 ($10,000 - $2,000).
Answer:
premises
Explanation:
The grocery store incurs premises liability for his injuries. This form of liability is a legal concept that has to do with personal injuries that have been caused by some form of unsafe or defective conditions on someone's property, usually due to negligence. This is exactly what happened in this scenario since it was negligent of the store to not have cleaned up the mess made by the broken eggs which ultimately caused Johnny to fall.
