Answer:Share premium account of $24,000
The provider of attorney services of $30,000
Explanation:
On provision of services, the Attorney services expenses account is debited with $54,000 and the attorney services provider account credited with $54,000
Furthermore a share account is opened for the provider and credited with $30,000 , the share premium is credited $24,000 and a debit transfer is made to his liability account initially credited.
The $24,000 credit to share premium represents the difference between the nominal value of the share of $5 and the market value of $9 multiply by the 30,000 shares he was paid with.
Also a memorandum will be issued to state that 6000 share has been transferred from Miller to the attorney services provider and the shares will be delited from his name and entered in the name of the services provider because the credit of shares to his account does not represents new shares issued but it's the transfer of Miller's shares to him.
Companies often do work on a cost-reimbursement basis. That is, Company B reimburses Company A for the cost of doing work for Company B. Suppose your company has a contract that calls for reimbursement of direct materials and direct labor, but not overhead. Following are costs that various organizations incur; they fall into three categories: direct materials (DM), direct labor (DL), or overhead (OH). Classify each of these items as direct materials, direct labor, or overhead.
Explanation:
Let’s explore one by one as proposed:
An oil cartel raises oil prices: all prices in the oil-related products will increase making it more expensive for companies to be able to afford employees. As the US economy is heavily based on oil import and consumption, the unemployment rate (let´s call it UR from now on) would increase. Countries that export more than import could benefit from this scenario.
The U.S. dollar gains value against foreign currencies: It would be more expensive to produce goods in the US as its currency becomes stronger. Hence companies could choose to produce overseas, increasing the UR. One of the factors that attract investments is a cheap currency, meaning that a company could operate there at lower costs than anywhere else.
American consumers expect higher income in the future: As fights about average salary would arise between employees and companies, igniting even sindicalization, its proper to think that the same as above could occur; companies could choose to produce overseas in countries less demanding of labor rights and income, such as China provinces (I would recommend for you to watch American Factory, a awarded Netflix documentary about that subject).
Brazil experiences economic growth and increases its demand for U.S. exports: as I said in the first alternative, a country that has increased or more expensive exports could benefit from that creating more jobs, in this case decreasing the UR. If Brazil demands more US products, more has to be produced by the country, which would mean more people employed in this attractive sector.
U.S. real estate values rise: to be honest, it only affects indirectly. As housing becomes more expensive, people have to work more to be able to afford housing. That would mean they seeking better-paying jobs or in the absence of those being homeless of at least unable to buy a home. We could argue that the UR would decrease because it becomes more expensive to afford housing and hence people would migrate more but that’s a long shot rationale.
Answer:
b. $100,000
Explanation:
Provided information
Beginning balance of account receivable = $25,000
Collection from customers = $100,000
Ending balance of account receivable = $15,000
Since we have to find out the gross taxable income, so we considered only the collection from customers as this is the amount which is received and therefore, it has come under the gross taxable income i.e $100,000.
Answer:
$2,000
Explanation:
Payment include repayment of Capital Amount and Payment of Interest expense
Therefore the balance in the Instalment Note Payable account after making the first annual payment is
