Answer: See explanation
Explanation:
The entry to record the mortgage loan on December 31, 2022 will be:
Debit Cash Account $660,000
Credit 10% Mortgage loan payable $660,000
The entry to record the first installment payment on December 31, 2023 will be:
Debit 10% Mortgage loan payable = $41412
Debit Interest Expenses $600,000 × 10% = $60,000
Credit Cash $107412
Answer:
c. Must have a good faith belief that the tax return position has a realistic possibility of success if challenged by the IRS
Explanation:
Statement on Standards for Tax Services No. 1 establishes as a basic principle of providing tax services that the CPA
we know that
Giving assessment administrations is on the standard premise that it has a decent confidence conviction that the government form position can be supported whenever tested
therefore
option c is correct
c. Must have a good faith belief that the tax return position has a realistic possibility of success if challenged by the IRS
<h2>
Answer:</h2><h3><em><u>
Bond: 20%</u></em></h3><h3><u><em>
Mutual Fund: 15%</em></u></h3><h3><u><em>
Stock: 50%</em></u></h3><h3><u><em>
Savings Account: 15%</em></u></h3>
<h2>
Explanation:</h2><h3><u><em>
E v e r F i</em></u></h3>
<u>Answer:</u>
Corporations are the best business structure for most of business entrepreneurs. Sole Proprietorships offer no security at all. Partnerships are perplexing and liable to twofold tax assessment.
The benefit of sole ownership is what's called go through tax collection. The Sole ownership pay goes this through right to the proprietor's individual assessment form. This implies no corporate assessment form and no twofold tax assessment. Sole ownerships are additionally significantly simpler to set up, and they have adaptable administration.
Answer:
The correct option is C.
Explanation: Price elasticity is the measure of the rate of change in the level of quantity demanded due to a change in the level of price.
Price elasticity is usually negative, this means that it follows the law of demand; as price increases quantity demanded decreases.
Also, another incidence that can affect price elasticity is an availability of cheaper alternatives. If cheaper alternatives of a particular product are introduced into the market, the demand for that product will reduce, because consumers will abandon it for its cheaper alternatives, thereby driving the elasticity of that product higher.
Therefore, in the scenario given above, the elasticity is higher than -1.2 because there are new brands that have just been introduced into the market.