Answer:c. Curb rising prices and overexpansion
Explanation:
Restrictive monetary policy is enacted by the Central bank to reduce money supply, curb rising prices and overexpansion.
I hope my answer helps you
Answer: C. purchase of EFGH separately; and the sale of ABCD separately
Explanation:
Answer:
Date Particular DR CR
a. Patent $214,500
Cash 214,500
<em>Being total payment for the exclusive right </em>
<em>to produce X-core machine </em>
b. Brand name 260,000
Exercise Equipment 403,000
cash 663,000
<em>Being the payment for the brand name of Silver Gym </em>
<em>and exercise equipment </em>
<em>c. </em>Copyright 22,000
Cash 22,000
<em>Being the payment for the exclusive right to sell Healthy book</em>
Explanation:
there is no journal enrty for the amount to be paid to Silver Gym on a monthly basis when the sales begin because the money has not been paid.
Answer:
a. A salary check received at 6:00 p.m. on December 31, after all the banks have closed.
b. A rent check received on December 30 by the manager of an apartment complex. The manager normally collects the rent for the owner. The owner was out of town.
Explanation:
The principle of constructive receipt is determined by when the person who receives the income had control over it. An individual or company is considered to have control over income when it is credited to that person or company. Basically, it's when you could spend that income if you wanted, even if you don't spend it.
From the principle of constructive receipt in the above paragraph, only option a (A salary check received at 6:00 p.m. on December 31, after all the banks have closed.) and b ( A rent check received on December 30 by the manager of an apartment complex. The manager normally collects the rent for the owner. The owner was out of town.) fall within the category. The other three options, the person is unable to spend the check even if they wanted to, until after December 31.
Filling out a tax form is about as much fun as owing taxes to Uncle Sam. The complexity of the task intensifies as your tax life becomes more complicated.
That's why you should use the simplest tax return form you can, especially if you're still filling out your forms by hand.
But choose carefully. There are three personal income tax forms -- 1040, 1040A and 1040EZ -- with each designed to get the appropriate amount of your money to the IRS. Differences in the forms, however, could cost you if you're not paying attention.
The EZ is the shortest and simplest form, Form 1040A is a bit more complex and the long Form 1040 is the most detailed and potentially difficult. But even if your tax life is simple and straightforward, it might be worthwhile to investigate the other two forms. Why? Generally, the longer the form, the more opportunities for tax breaks.
