JS
Javariah Sohail
Answers (6)
JS
Answered
In the case in the text,Meyer v.Christie,why did the intermediate court affirm the jury's damages award?
A) The defendants conspired to take the development opportunity from the plaintiffs.
B) Expert testimony proved that the plaintiffs suffered a loss of $7 million.
C) The award was proven beyond a reasonable doubt at trial.
D) It was reasonable under the circumstances and the award could not be exact because of the defendants' own actions that gave rise to the lawsuit.
A) The defendants conspired to take the development opportunity from the plaintiffs.
B) Expert testimony proved that the plaintiffs suffered a loss of $7 million.
C) The award was proven beyond a reasonable doubt at trial.
D) It was reasonable under the circumstances and the award could not be exact because of the defendants' own actions that gave rise to the lawsuit.
On Jul 09, 2024
D
JS
Answered
Each set of negotiators tries to build consensus for agreement and resolve intragroup conflict before dealing with the other group's negotiators in the type of negotiation known as:
A) distributive negotiations
B) integrative negotiations
C) attitudinal structuring
D) intraorganizational negotiations
A) distributive negotiations
B) integrative negotiations
C) attitudinal structuring
D) intraorganizational negotiations
On Jul 06, 2024
D
JS
Answered
Briefly describe the expectancy theory developed by Victor Vroom.
On Jun 09, 2024
In the 1960s, Victor Vroom originally developed the expectancy theory to explain human behavior in terms of people's goals and choices and the expectation that goals will be reached. Its main concepts are expectancy, instrumentality, and valence.
JS
Answered
Money is NOT
A) a medium of exchange.
B) a standard of value.
C) a store of value.
D) the exclusive means of holding wealth.
A) a medium of exchange.
B) a standard of value.
C) a store of value.
D) the exclusive means of holding wealth.
On Jun 06, 2024
D
JS
Answered
The following information is available for Liu Company: Debit Credit Owner’s Capital $50,000 Owner’s Drawings $23,000 Sales Revenue 500,000 Sales Returns and Allowances 20,000 Sales Discounts 7,500 Cost of Goods Sold 302,000 Freight-Out 2,300 Advertising Expense 15,000 Interest Expense 19,200 Salaries and Wages Expense 53,000 Utilities Expense 18,000 Depreciation Expense 9,000 Interest Revenue 18,000\begin{array}{lrr}&\text { Debit } & \text { Credit } \\\text { Owner's Capital } & & \$ 50,000 \\\text { Owner's Drawings } & \$ 23,000 & \\\text { Sales Revenue } & & 500,000 \\\text { Sales Returns and Allowances } & 20,000 & \\\text { Sales Discounts } & 7,500 & \\\text { Cost of Goods Sold } & 302,000 & \\\text { Freight-Out } & 2,300 & \\\text { Advertising Expense } & 15,000 & \\\text { Interest Expense } & 19,200 & \\\text { Salaries and Wages Expense } & 53,000 & \\\text { Utilities Expense } & 18,000 & \\\text { Depreciation Expense } & 9,000 & \\\text { Interest Revenue } & & 18,000\end{array} Owner’s Capital Owner’s Drawings Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Freight-Out Advertising Expense Interest Expense Salaries and Wages Expense Utilities Expense Depreciation Expense Interest Revenue Debit $23,00020,0007,500302,0002,30015,00019,20053,00018,0009,000 Credit $50,000500,00018,000
Instructions
Using the above information prepare the closing entries for Liu Company.
Instructions
Using the above information prepare the closing entries for Liu Company.
On May 09, 2024
Interest Expense19,200 Salaries and Wages Expense 53,000 Utilities Expense 18,000 Depreciation Expense 9,000\begin{array}{lrr} \text { Interest Expense} &19,200\\ \text { Salaries and Wages Expense } &53,000\\ \text { Utilities Expense } &18,000\\ \text { Depreciation Expense } &9,000\\\end{array} Interest Expense Salaries and Wages Expense Utilities Expense Depreciation Expense 19,20053,00018,0009,000
31Income Summary 72,000 Owner’s Capital 72,000 31Owner’s Capital 23,000 Owner’s Drawings23,000\begin{array}{lrr} \text { 31\quad Income Summary } &72,000\\\quad\quad\quad \text { Owner's Capital } &&72,000\\\\ \text { 31\quad Owner's Capital } &23,000\\\quad\quad\quad \text { Owner's Drawings} &&23,000\\\end{array} 31Income Summary Owner’s Capital 31Owner’s Capital Owner’s Drawings72,00023,00072,00023,000
31Income Summary 72,000 Owner’s Capital 72,000 31Owner’s Capital 23,000 Owner’s Drawings23,000\begin{array}{lrr} \text { 31\quad Income Summary } &72,000\\\quad\quad\quad \text { Owner's Capital } &&72,000\\\\ \text { 31\quad Owner's Capital } &23,000\\\quad\quad\quad \text { Owner's Drawings} &&23,000\\\end{array} 31Income Summary Owner’s Capital 31Owner’s Capital Owner’s Drawings72,00023,00072,00023,000
JS
Answered
All of these are symptoms of an inadequate control system except
A) idle facilities or personnel.
B) angry shareholders.
C) employee dissatisfaction.
D) excessive costs.
E) cash shortages.
A) idle facilities or personnel.
B) angry shareholders.
C) employee dissatisfaction.
D) excessive costs.
E) cash shortages.
On May 06, 2024
B