Robert Haddon Contributed $70,000 in Cash and Land Worth $130,000

question 176

Multiple Choice

Robert Haddon contributed $70,000 in cash and land worth $130,000 to open a new business, RH Consulting. Which of the following general journal entries will RH Consulting make to record this transaction?

• A) Debit Assets $200,000; credit Haddon, Capital, $200,000.
• B) Debit Cash and Land, $200,000; credit Haddon, Capital, $200,000.
• C) Debit Cash $70,000; debit Land $130,000; credit Haddon, Capital, $200,000.
• D) Debit Haddon, Capital, $200,000; credit Cash $70,000, credit Land, $130,000.
• E) Debit Haddon, Capital, $200,000; credit Assets, $200,000.

Analyze the legal effects of non-disclosure or partial disclosure of agency relationships in contracts.

Comprehend the principles of indemnification in agency scenarios.

Examine how employers can mitigate liability risks associated with the actions of their agents or employees.

Dive into specific cases of liability for negligence within the scope of an employee or agent's employment.

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Definitions:

Intentional Tort

A civil wrong resulting from actions taken deliberately to harm another person, rather than as a result of negligence or an accident.

Substantially Certain

A criteria used in law indicating when an action is almost sure to result in a particular outcome, often used in tort law to assess intentionality.

Defamatory Communication

It refers to the act of making false statements about someone that harm their reputation.

Libel

Written defamation that unjustly harms someone's reputation.