Explanations of both mislaid and lost property

Assignment Help Accounting Basics
Reference no: EM13927232

The money is mislaid property and it should be awarded to the owner of the hotel. In looking at the explanations of both mislaid and lost property, the difference between the two terms is how the item was left. Under mislaid property, it is defined as property that is voluntarily left somewhere by its owner and forgotten about. Lost property is where the property is misplaced out of carelessness or negligence. The money was found by Mr. Franks carefully wrapped in the dresser of the room. By its appearance, it can be assumed that it was placed there, not out of negligence, and forgotten by the owner. Since Mr. Kazi was the owner of the hotel, the money goes to him.

Reference no: EM13927232

Questions Cloud

Capital budge recommendation : Guillermo Navallez, owner and operator of Guillermo Furniture has built a successful company using beautiful local woods and the highest quality of hand crafted techniques.
Writing center request form located on mycsu student portal : Final Research Paper Draft Follow the directions below for the completion of your Research Paper Final Draft for Unit VIII. If you have questions, please email your professor for assistance.
Distributed computing applications : Distributed.net (www.distributed.net) is an organization that coordinates research on distributed computer applications. People and organizations can join Distributed.net and contribute idle computing power to ongoing research projects that requir..
Shareholder value or financial perspective : Consider the following four quadrants of the balanced scorecard when developing your strategic objectives: Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:
Explanations of both mislaid and lost property : The money is mislaid property and it should be awarded to the owner of the hotel. In looking at the explanations of both mislaid and lost property, the difference between the two terms is how the item was left.
Exploring oop and its data structures : Object-oriented programming has been adopted widely because of its capability to reuse code. Most application development software provides class libraries and extensive support for complex data structures, including linked lists. Investigate one ..
Calculate and display a letter grade : The objective of this individual project is to create a complete C# Windows application and design documents based on the following specifications and instructions. Calculate and display a letter grade for each student.
What are the limitations on the repurchase alternative : What are the limitations on the repurchase alternative as an element of the firm's dividend policy? If most shareholders are in a very high marginal tax bracket, which alternative is favored?
What is the conversion ratio : Each bond will include 20 warrants that give the holder to purchase one share of stock per warrant.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Consider the information on deductions a business can take

consider the information on deductions a business can take for various expenses which lower its taxable income and

  Post the entries to the general ledger if you are not using

comprehensive problem 2 for heintz and parry 20th college accountingassetsrevenues101cash401registration

  Sales tax and record journal entry

On May 10, 2007, Wiley, Inc remitted $91,450 to the state tax division for April 2007 sales. Calculate the amount of Wiley's April 2007 sales subject to sales tax, and, record the journal entry that would be made when the tax is paid:

  Determine potential shares should be included

Determine if these potential shares should be included in diluted EPS for 2007 - contractually commits itself to issue 2,000 additional common shares on December 31, 2009.

  Write a short story about the company based on the

below find a working trial balance for smith company.smith company31-dec-12trial balance accounts in alphabetical

  Like engineers operations managers are very concerned

like engineers operations managers are very concerned about product and process design. however rather than focusing on

  What is the difference between interest expense and interest

What is the difference between interest expense and interest payable?

  Prepare the journal entry to record bad debts expense for

at december 31 2005 zurich company reported this info on itsbalance sheet.accounts receivable 960000less allowance for

  Ironwood corporation has ordinary taxable income of 40000

1. which of the following items would be includable in the gross income of the recipient?a. insurance payments for

  Bluestar makes three models of camera lens its sales mix

bluestar makes three models of camera lens. its sales mix and contribution margin per unit follow percentage of

  Methods of analysis

Methods of Analysis

  Johnson corporation''s unadjusted trial balance at year-end

Johnson Corporation's Unadjusted Trial Balance at year-end

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd