This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The bank reconciliation for Lahiri Co shows a 30 debit memo for service charges. The journal entry ... (Read 59 times)

moongchi

  • Hero Member
  • *****
  • Posts: 516
on: Jul 6, 2018
The bank reconciliation for Lahiri Co shows a 30 debit memo for service charges. The journal entry to record this item would involve a
 a. debit to Cash.
   b. debit to Debit Memo.
   c. debit to Miscellaneous Expense.
   d. none of the answers listed.

Question 2

Which of the following statements is true of the calculation of economic damages in a civil litigation?
 
  A) All future economic damages must be reduced to present value, which requires the application of a discount rate.
  B) Calculations of economic damages are often based on a set of foundational assumptions rather than facts.
  C) Interest on past economic damages is always calculated by a forensic accountant.
  D) Worklife expectancy is the period of time a person is expected to live past retirement.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

stanleka1

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jul 6, 2018
Answer to Question 1

c

Answer to Question 2

A
Explanation: A) All future economic damages must be reduced to present value, which requires the application of a discount rate.


moongchi

  • Hero Member
  • *****
  • Posts: 516
Reply #2 on: Jul 6, 2018
Correct answers!


stanleka1

  • Sr. Member
  • ****
  • Posts: 325
Reply #3 on: Jul 6, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Some of the fastest growing religions in America are non-Judeo-Christian religions. This photograph Some of the fastest growing religions in America are non-Judeo-Christian religions. This photograph
Hyperopia (farsightedness). In the uncorrected top figure, the image would come into focus behind th Hyperopia (farsightedness). In the uncorrected top figure, the image would come into focus behind th
The posted octane rating in most high-altitude areas shows regular at 85 instead of the usual 87. The posted octane rating in most high-altitude areas shows regular at 85 instead of the usual 87.
When the service work is completed, the hoist should be raised slightly and the safety released ... When the service work is completed, the hoist should be raised slightly and the safety released ...
The four routes of entry into the human body for hazardous materials. The four routes of entry into the human body for hazardous materials.
Video: The 4 steps of translation Animation

For a complete list of videos, visit our video library