Answer:
The journal entries are shown below
Explanation:
The journal entries are as follows
a. Product warranty expense $13,590 ($151,000 × 9%)
To Product warranty payable $13,590
(Being the warranty estimated expense is recorded)
b. Product warranty payable $207
To Supplies $120
To Wages payable $87
(Being the warranty work is recorded)
Only these two entries are passed
Answer:
False
Explanation:
If a firm sells on terms of 2/10, net 30 days, and its DSO is 28 days, then the fact that the 28-day DSO is less than the 30-day credit period tell us that the credit department is functioning efficiently and there are no past due accounts. This is a false statement.
The reason that they do this because rotating crops has the
capability of keeping the nitrogen from being depleted in the soil as nitrogen
fixing bacteria are likely to be found in the nodules of the roots of the
soybeans and not on the corn’s roots that makes soybeans the next after the corn
is planted first.
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.
This would be C. the Real Estate Agents. The engineering firms are only in charge of the construction of the home and the materials that are to be used for building it. The Architects, on the other hand, are responsible for the design of the home and the placement of the materials of the home. The lending institutions are focused more on providing the home inspector with money that he will need for a piece of property. So that leaves us with the Real Estate Agents. It is these people who deal with the sales of property which is why they are the source of business leads.
