The outcome of raising fees and requiring more paper work to start a corporation would be that there would be less corporations and, the opposite would happen if fees were lowered and application possesses were simpler, hope this helps
Scientific laws are created when a theory has stood the test of time and cannot be proven wrong. A scientific law is a statement based on repeated experimental observations that describes some aspects of the universe. Hope this answers the question.
Answer:
$67,000
Explanation:
The total revenue will be income from the 300 rooms and that from 100 rooms
=(300 x $140) + ($100 x 250)
=$42,000 +$25,000
=$67,000
Answer:
Debit : Bad Debts account : $2000 (appearing in the income statement)
Credit : Provision for doubtful debts account : $2000 (appearing in the balance sheet)
Explanation:
This is an example of provision for doubtful debts. Provision for doubtful debts is an estimated amount of bad debts from accounts receivables that has been issues but not yet collected. This is done under the accrual accounting concept where an expense is identified as soon as invoices have been issued rather than waiting long periods to find out which invoice is irrecoverable. It is typically an estimate based on past experience.
In this question, the sales value has not been provided, hence an assumption is made:
Sales : $200,000
If provision for doubtful debts is 1% of sales and all sales is on credit, then the provision for doubtful debts amount is = 1% x $200,000 = $2000
Provision for doubtful debts is an accounts receivable contra account and thus has a credit balance and is recorded in the balance sheet, listed directly under accounts receivables.
The entry is recorded as:
Debit : Bad Debts account : $2000 (appearing in the income statement)
Credit : Provision for doubtful debts account : $2000 (appearing in the balance sheet)
Answer:
The correct answer is b. a limitation-of-liability clause.
Explanation:
It is understood by pact of exemption of responsibility, the stipulation negotiated by the subjects of the obligation, directed to suppress the responsibility of the debtor in case of breach of the same.
The doctrine specialized in mountain law states that: "If a company organizes an activity and forces the participants to sign a document in which they assume full responsibility for what happens to them, it is of little use, the organizer is still responsible" . Although this statement must be expanded and nuanced, it can serve as a guide for what we will study next.
