Answer:
Correct option is (a)
Explanation:
Adjusting journal entries are passed before financial statements are prepared to so as to confirm if revenue recognition and matching principles are complied with. Adjusting entries are required to be passed if transactions is spread over multiple financial periods. For example, adjusting entry is passed if goods are received this year but payment will be made next year.
Before income statement and balance sheet is prepared, these entries are passed. Thereafter, adjusting trial balance is prepared and finally financial statements are prepared.
Answer: to establish the layout of all slides, or a group of slides, in a presentation.
to determine the theme of all slides, or a group of slides, in a presentation.
to allow users to apply changes in layout or theme to an entire presentation.
Explanation:
It should be noted that the Slide Master refers to the top slide which controls the information regarding the background, fonts, theme, layout, and color of all the slides in Microsoft PowerPoint.
The phrase best describes the purpose of a slide master include:
• to establish the layout of all slides, or a group of slides, in a presentation.
• to determine the theme of all slides, or a group of slides, in a presentation.
• to allow users to apply changes in layout or theme to an entire presentation.
Therefore, the correct options are C, D and F.
1. FORGIVENESS - Cheryl received a student loan to pursue a degree to become a dental assistant. But unfortunately her school closed down due to legal complications. As Cheryl couldn't complete the course due to no fault of her own, Cheryl need not pay back the loan.
2. DEFAULT - Tom got a student loan to pursue a nursing science degree. But he couldn't manage his money well enough, due to which he was unable to pay back his loan.
3. WORK-STUDY - Sam is pursing an undergraduate program in Economics. He works as an assistant to the financial aid officer, which helps him earn $4000 annually. This helps him pay a few educational expenses.
Answer:
c. not affect the bond's duration.
Explanation:
The bond duration measures the sensitivity of a bond's price to change in the interest rate. It is a linear measure of those years in which the repayment of the principal is due. the change in interest rate does not affect the duration of the bond.
On the other hand decrease in interest rate would increase the bond's PV and Price of the bond as well.
Payment frequency would not change with the decrease interest rate.
The Coupon rate will also remain the same whether the interest rate increases or decreases.
Answer:
A. $52,020
B. $0
C. $208,080
Explanation:
a. Computation of Rafael's realized gain on the exchange
Using this formula
Realized gain=Fair market value -Adjusted basis
Let plug in the formula
Realized gain= $190,740-$138,720
Realized gain=$52,020
Therefore a. Rafael's realized gain on the exchange is $52,020
b. Based on the information given Rafael's recognized $1031 gain is $0 reason been that
NO BOOT WAS RECEIVED
c. Computation for Rafael's $1245 depreciation recapture Amount
Using this formula
Depreciation recapture Amount=Equipment originally cost -Adjusted basis
Let plug in the formula
Depreciation recapture=$346,800-$138,720
Depreciation recapture=$208,080
Therefore Rafael's $1245 depreciation recapture of $208,080 is carried over to the replacement property
