Answer:
$20,000
Explanation:
Calculation for What amount should Valet report in its 2021 income statement for unrealized holding loss
Using this formula
2021 income statement for unrealized holding loss=Aggregate cost -Aggregate Fair value
Let plug in the formula
2021 income statement for unrealized holding loss=$ 180,000-$ 160,000
2021 income statement for unrealized holding loss=$20,000
Therefore the amount that Valet should report in its 2021 income statement for unrealized holding loss is $20,000
Answer:
Explanation:
We summarize the assets and liabilities in the classified balance sheet into various types Like assets are divided into fixed assets, current assets, and intangible assets.
Liabilities are likewise divided into current liabilities, long-term liabilities The accounting equation is used in any balance sheet which means
Total assets = Total liabilities + shareholder equity
So, the accounts which are appeared on the balance sheet are shown below:
1. Accounts Payable = Current liabilities
2. Accounts Receivable = Current assets
3. Andrew King, Capital = Stockholder equity
4. Cash = Current assets
5. Land = Fixed assets
6. Supplies = Current assets
7. Wages Payable = Current liabilities
All other are related to the income statement. Therefore, ignored it
Their economies are highly specialized and depend on international trade for their income.
<h3>What is
income?</h3>
Income is the consumption and saving opportunity gained by an entity over a given time period, which is usually expressed in monetary terms. Income is difficult to define conceptually, and definitions vary across fields.
Income is defined as the amount of money received by a person, group, or company over a specific time period. A salary of $70,000 per year is an example of income.
Income is money received by an individual or business in exchange for labor, the production of a good or service, or the investment of capital. Individuals typically earn money through wages or salaries, whereas businesses make money by selling goods or services for more than their cost of production.
To know more about income follow the link:
brainly.com/question/25895372
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The statement which accurately describes the effect of the federal government rapidly reducing government expenditures is D.Unemployment rates will increase because federal spending makes up a large part of the economy. Since the goverment keeps up money for particular economic expenses, it means that the salaries will be decreased and the level of firing people wold decrease. Therefore, companies will not be able to offer a escent salary to their new empoyees which means that unemployment rate will grow.
Answer: Unearned subscription revenue.
Explanation:
Tax is made on a cash basis which means that a transaction is eligible for taxation once cash has been paid for it. Businesses however have to use the Accrual basis which only record transactions in the period that they have been incurred.
In this scenario, there is more subscription payment in cash than the company recognized which means that the company has not yet delivered the service they were paid for and so could not recognize the subscriptions. They will however be taxed on those amounts because the cash has come in.
The account giving this temporary difference is therefore the Unearned Subscription Revenue account.
