For the year ending December 31, 2019, the partnership reported a net loss of $122,000. The journal entry to record the loss allocation will ________.
Lori and Mike enter into a partnership and decide to share profits and losses as follows:
1. The first allocation is a salary allowance with Lori receiving $12,000 and Mike receiving $25,000.
2. The second allocation is 20% of the partners' capital balances at year end. On December 31, 2019, the
capital balances for Lori and Mike are $86,000 and $344,000, respectively.
3. Any remaining profit or loss is allocated equally.
A) debit Lori, Capital for $93,300
B) debit Lori, Capital for $28,700
C) debit Mike, Capital for $93,800
D) credit Mike, Capital for $93,800
A) debit Lori, Capital for $93,300
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If the Fair Value Adjustment - Trading account for trading debt investments has a debit balance, it is ________.
A) considered to be a contra account B) subtracted from the Trading Debt Investment account to determine carrying value C) added to the Trading Debt Investment account to determine carrying value D) reported in the other income and expenses section of the income statement
The marketers of an investment firm just developed a promotional campaign for a new financial service. In a print ad intended for its Chinese market, a representative from the firm is shown shaking hands with an Asian customer-a symbol that a business relationship based on trust and honor has been established. To convey this same message to its U.S. market, the U.S. print ad features a customer in an office formally signing a contract. Which of Hofstede's cultural dimensions accounts for this difference in the two ads?
A. time orientation B. uncertainty avoidance C. power distance D. indulgence E. individualism
One way organizations can address privacy concerns on the Internet is to
A. keep all data collected confidential. B. publicly display any information collected by the company. C. post a privacy policy on the company’s website. D. avoid collecting any private information. E. share collected data only with firms that pay for access.
Ordinarily, a minor can disaffirm a contract even though she has misrepresented her age.?
Indicate whether the statement is true or false