Harris was awarded $4 million in damages in a malpractice case against Dr. Kelsoe. The doctor's attorney filed a motion for a new trial. The motion may be granted if:
a. the damages are excessive.
b. the verdict was against the weight of the evidence.
c. the trial was unfair.
d. All of these.
d
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On July 1, Darin Company sold inventory costing $5,000 to Dee Company for $6,000, terms 3/10, n/30. Both companies use the perpetual inventory system. Dee Company pays the invoice on July 8 and takes the appropriate discount. What journal entry will be recorded by Dee Company on July 8?
A. Debit Accounts Payable and credit Cash for $6,000 B. Debit Accounts Payable for $5,820, credit Inventory for $180, and credit Cash for $6,000 C. Debit Cost of Goods Sold and credit Cash for $5,000 D. Debit Accounts Payable for $6,000, credit Cash for $5,820, and credit Inventory for $180
The excess of budgeted or actual sales over sales at break-even point is referred to as ______________________________
Fill in the blank(s) with correct word
Which of the following statements is true regarding governmental fund financial statements?
A. Governmental fund financial statements help to determine whether the government's overall financial position improved or deteriorated. B. Governmental fund financial statements report a government's activities and financial position as a whole. C. Governmental fund financial statements utilize the accrual basis of accounting much like any for-profit entity. D. Governmental fund financial statements should tell the amount spent this year on such services as public safety, education, health and sanitation, and the construction of a new road. E. Governmental fund financial statements report all assets and liabilities in a way comparable to business-type accounting.
The adjustments made on the worksheet:
A. are recorded in the journal and then posted to the general ledger accounts. B. are recorded in the journal but are not posted to the ledger. C. need not be entered in the journal or the ledger. D. are posted to the ledger but are not recorded in the journal.