Answer:
The answer is c:
Enforceable via employee agent
Explanation:
The definition of agency law deals with agent-principal relationships; that is a relationship where one party has the legal authority to act in place of another. Relationships that are commonly associated with agency law include employer-employee, administrator-decedent or executor, and guardian-ward.
Agreements that result in the formation of agency-type relationships can be implied or express, and both the principal and the agent can be an entity (such as partnership or corporation) or individual.
Here in the given situation, since, Elaine is an employee of the business and knowledgeable enough to deal with the contract filing, it is implied that she is acting as an employee agent, that she can help the customer in filing the contract.
Answer:
Dividends - <em>Statement of Changes in Retained Earning</em>
Dividends are payments to shareholders from a company's net income. They are derived from the Statement of Changes in Retained Earning because this is where Net Income is sent to. After they are deducted from Retained Earnings, the Earnings form part of Equity.
Differed Revenue - <em>Balance Sheet</em>
Differed Revenue refers to money that was received from a customer or client for goods and/or services that have not yet been delivered. The business will treat them as a liability until they are delivered so they will go under Current Liabilities in the Balance Sheet assuming they are to be fulfilled in 12 months or less which is usually the case.
Service Revenue - <em>Income Statement</em>
These are revenue that the business earns for providing a service when their main source of revenue is by selling goods. It is listed in the Income Statement just after Revenue and is added to Revenue to get Total Revenue.
The qualifications Ginger most likely have to become very qualified for a Revenue job are <span><span>4- integrity, ability to analyze tax forms, and good math skills
</span>Revenue is defined as the </span><span>amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. This transaction involves money and sometimes large amount of money. Thus, integrity is greatly needed.
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Revenue job examples are Revenue Accountant, Revenue Analyst, Revenue Manager.
Answer:
The depreciation expense for Year 1 is $9880
Explanation:
The cost of equipment to be recorded in the books is the price at which it was purchased and the cost incurred to bring it to intended use that is the installation cost. Thus, the cost of the equipment in the books will be recorded as,
Equipment = 88000 + 4000 = $84000
The insurance and maintenance are recurring expenses and are not capitalized.
The depreciation rate under units of production method is,
Depreciation rate = (cost - salvage value) / estimated useful life in units
Depreciation rate = (84000 - 8000) / 100000 = $0.76 per unit
The depreciation expense for Year 1 = 0.76 * 13000 = $9880
