Jones operates an upscale restaurant and he pays experienced cooks $43,000 per year. this year he hired his son as an apprentice cook. jones agreed to pay his son $46,400 per year. which of the following is a true statement about this transaction?

jones will be allowed to deduct $46,400 only if his son eventually develops into an expert cook.

jones can only deduct $23,200 because an apprentice cook is only worth half as much as an experienced cook.

none of these.

jones will be allowed to deduct $43,000 as compensation and another $3,400 can be deducted as an employee gift.

jones will be allowed to accrue $46,400 only if he pays his son in cash.

At the end of the current year, $59,500 of fees have been earned but have not been billed to clients. required: a. journalize the adjusting entry to record the accrued fees on december 31. refer to the chart of accounts for exact wording of account titles. b. if the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary?

Nellie lumpkin, who suffered from dementia, was admitted to the picayune convalescent center, a nursing home. because of her mental condition, her daughter, beverly mcdaniel, signed the admissions agreement. it included a clause requiring the par- ties to submit any dispute to arbitration. after lumpkin left the center two years later, she filed a suit against picayune to recover damages for mistreatment and malpractice. [covenant health & rehabilitation of picayune, lp v. lumpkin, 23 so.2d 1092 (miss. app. 2009)] (see page 91.) 1. is it ethical for this dispute—involving negligent medical care, not a breach of a commercial contract—to be forced into arbitration? why or why not? discuss whether medical facilities should be able to impose arbitration when there is generally no bargaining over such terms.

Amarket that consists of all possible consumers regardless of their specific needs or wants is a