Base Electronics had sales of $14,000 this month and collected an
additional 7% sales tax.
Assuming all sales are cash, the journal entry to record this
transaction would be:
Sales Tax Payable 980
On January 1 of the current y
Suppose an automobile cost $30,000 and has accumulated
depreciation of $8,000. It is sold for $25,000 cash.
What is the journal entry to record the sale of the automobile?
Accumulated Dep 8,000
Gain on Disp 3000
The excess of t
Assume Jones Company determines it will not be able to collect
$500 from Customer Joe Smith for sale of merchandise on account.
The journal entry to write off the amount using the direct write off
method would be:
Bad Debts Expense
Consider the following sample of observations. 10,15,20,20,40,65,80,100.
1. The median of the observation is?
2. The mean of these observations is?
3. The mode of these observation is?
Sample for 4-6. $.9, $4.1, $8.4, $10.7, $25.5
4. The median of these p
The two graphical techniques we usually use to present nominal data are : bar and pie chart
Which of the following are deceptive practices : showing only absolute changes in value with truncated vert axis
In a positively skewed distribution : the
-The nature of health care delivery will be different in the future due to : both a/c (rising % of elders in total population, longer lives resulting in a higher incidence of
-In the 19th century hospitals had notorious reputations-questi
Work problems on elasticity where he gives income, price, and cross elasticity, know and understand all of elasticity understand the characteristics you can do a wiki
*Opportunity cost general and an application of opportunity cost and you should be able
Test 3 material
Sole proprietorship and partnership are a like
Corps/LLCs are alike
Limited partnership is like a hybrid of both categories
Chapter 36- Sole proprietorships and Franchises
A. Sole proprietorships
CH. 42- Securities Law and Corporate Governance
VI. Securities Regulation and Investor Protection
Example: you have an alien that crashed into planet Earth. That crash happens into federal court
house and rests where all the law books are. Alien randomly
Test 2 Material
III. Employment Law Ch. 34: Employment, Immigration, and Labor Law
A. Employment at will
Most employment is employment at will
It means, if there is a contract, there is a contract between employer and employee. For
the effect of
Introductory legal concepts
1. Criminal law
b. Burden of proof (to prove guild beyond a reasonable doubt)
2. Civil law
b. Burden of proof (proof with preponderance of the evidence)
3. Statutory and common law
BLAW Test 1 Review
Void contract - no contract exists or there is a contract without legal obligations
- one party has the option of avoiding or enforcing the contractual
Unenforcable contract - a contract exists but it can
Chapter 10 Nature and Terminology
Elements of a contract
1. Agreement (11) (manisation of mutual ascent)
Serious intent on part of offeror, determined my reasonable person
2. Consideration (12)
3. Legality (bargain has t
1. What 4 elements does a contract have?
Manifestation of mutual assent, consideration, legality, and capacity
2. What type of contract is it if it is not valid because of legal defense?
3. What type of contract is it i
General K Law: Past consideration is no consideration. If a minor goes buys something that is
necessary, the minor is only liable for the reasonable price of the product which is not to exceed
market value. Seller and buyer contracted for the sale of good