Suggesting that they consult with an attorney is the most appropriate advice which the real estate professional should offer.
<h3>Who is an Attorney?</h3>
This is a professional who practices law and is usually involved in real estate matters through documentation of transfer of ownership.
The transfer of ownership helps to prevent issues in the future and shows the land was legally acquired which is why Attorney is the most appropriate choice.
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<u>Answer:</u>
<u> Setting the mood and tone of her speech. </u>
<u>Explanation:</u>
Muriel's approach to her speech prepares the mind of her listeners who are made up of business leaders who are known to usually have negative views about increasing taxes.
Thus, Muriel may be able to reach the emotions of her listeners <em>towards accepting her point of view</em>. This is evident by the the statement "Our community has been strong in the face of adversity, but we now face the most serious challenge in years", in which it likens the decreasing tax revenues to an adversity that should be overcomed; thus employing more support.
Answer:
$10,670 million
Explanation:
The computation of the free cash flow is shown below:
= EBIT × (1 -Tax Rate) + Depreciation & Amortization - Change in Net operating Working Capital - net capital Expenditure.
= $12,600 million - $0 - $1,890 million - $40 million
= $10,670 million
We simply deduct the increase in net operating capital and the net capital expenditure from the EBIT after tax so that the accurate amount can come
All other information which is given is not relevant. Hence, ignored it
Answer:
(a)
July 31, 2022
Dr. Depreciation Expense $4,580
Cr. Accumulated Depreciation $4,580
(b)
Dr. Cash $22,430
Dr. Accumulated Depreciation $41,410
Dr. Loss on Sale of asset $14,030
Cr. Cost $77,870
Explanation:
Before sale of the asset, depreciation for the year should be recorded. To incorporate its effect on the sale.The depreciation for the 7 months of 2022 will be added to the accumulated depreciation account.
July 31, 2022
Accumulated Depreciation = $36,830 + $4,580 = $41,410
Net Loss is calculated by deducting the accumulated depreciation and cash received on the sale from the original cost of the asset.
Answer: A. Total Assets are overstated as of May 31, 2020 and May 2020 Net Income is overstated
Explanation:
Capitalizing the costs of the maintenance means that the $14,000 was taken to the Machinery Account which is an asset when in fact it should have been taken to the Maintenance Expense account which is an expense. This will increase the Asset account for May by $14,000 when it should not have meaning that the Asset account is now Overstated.
Net Income is acquired by deducting expenses from Sales/Revenue. The $14,000 which should never have been recorded as an Asset but instead as an expense, will mean that this Expense will not be deducted from the Net Income because it is being recognized as an Asset. This will mean that the Net Income for May will be Overstated by $14,000 which was supposed to be removed from it.
