The executor of the Estate of Kate Tweed discovered the following assets (at fair value): Cash$104,000 Interest receivable 7,800 Life Insurance policy 390,000 Residence 260,000 Shares of PepsiCo 65,000 Shares of Apple 143,000 Shares of Kenyan Lake 182,000 ??The will of Kate Tweed had the following provisions:? $195,000 in cash went to Victor Vickery. ? All shares of PepsiCo went to Duchess Doyle. ? The residence went to Louis Tweed. ? All other estate assets were to be liquidated with the resulting cash going to the Sacred Church of Liberty, Missouri.?Prepare the journal entry to record the property of the estate.
What will be an ideal response?
| Cash - Principal | $ | 104,000 | ||||
| Interest Receivable | 7,800 | |||||
| Life Insurance - Payable to Estate | 390,000 | |||||
| Residence | 260,000 | |||||
| Investment in Pepsi Cola | 65,000 | |||||
| Investment in Apple | 143,000 | |||||
| Investment in Kenyan Lake | 182,000 | |||||
| Estate Principal | $ | 1,151,800 | ||||
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Michael E. Porter, a leading theorist of competitive strategy, developed a five forces model to explain competition in an industry. List these forces and describe the impact of the threat of new entrants
What will be an ideal response?
The following set of items describes activities completed by a company in purchasing and paying for merchandise. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. The receiving department compares the quantity received with the quantity printed on the receiving report when the purchase order was prepared
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