This topic contains a solution. Click here to go to the answer

Author Question: The bank reconciliation for Lahiri Co shows a 30 debit memo for service charges. The journal entry ... (Read 105 times)

moongchi

  • Hero Member
  • *****
  • Posts: 516
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
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.





 

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

For a complete list of videos, visit our video library