Explain the two duties of a tenant
1. Duty to pay rent
The tenant's primary duty is to pay the rent, and if she fails to do so in a timely manner, the landlord may terminate the lease and order the tenant to vacate. The tenant will continue to be liable for the agreed rent.
2. Duty to protect and preserve the premises
The tenant has a duty to keep the property in as good a condition as it was in at the time the lease began, other than that which results from ordinary wear and tear.
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Wakefield Home is a private not-for-profit health care entity offering services for a fee. In the first quarter of 2017, Wakefield Home rendered services of $300,000 to patients. Of this amount, patients bear responsibility for 75% and the remaining amount is to be paid by third-party insurance providers. However, at the end of 2017, Wakefield Home realizes that $25,000 of the patients' responsibility to pay their share of the billed amounts is estimated to be uncollectible and $3,000 of the amounts from the third-party payors will not be collected.A local business donated medical supplies to Wakefield Home with a value of $40,000. Prepare the journal entry for the receipt of these supplies.
What will be an ideal response?
Debits to Cost of Goods Sold typically represent the
a. transfer of completed items to Finished Goods Inventory. b. costs of items sold. c. selling price of items sold. d. the cost of goods manufactured.
A way for project managers to deal with the stress of culture shock is to redefine priorities and develop more realistic expectations as to what is possible.
Answer the following statement true (T) or false (F)
Super Chef Appliance Company allows Reba to take a set of kitchen appliances that she bought from Super Chef even though she has not paid the full price. Super Chef's legally sufficient financing statement in the goods need not include
A. a description of the collateral. B. a statement of the reason for allowing Reba to take the goods. C. Super Chef's name. D. Reba's name.