The amount that McClelland Company should record the machine upon purchase is<u> $56,505.</u>
<h3>Recording the transaction</h3>
The proper way to record the transaction based on U.S. GAAP polices is to debit the Machine account with the price of $56,505 as this represents the market value of the machine.
The company should also credit the Notes payable account with $70,000 being the value of the note acquired. A debit will go to the Discount on Note account for $13,495 which is the difference between the note and value of machine.
Find out more on recording Notes Payable at brainly.com/question/17073934.
Answer:
C. More leisure time
Explanation:
Leisure time is the time spent away from work, business, school, or doing domestic chores. Spending time in necessary activities such as eating or sleeping is not leisure. Leisure activities include cycling, taking holidays, hiking, or cycling.
Starting a business is not a leisure activity. Engaging in recreation activities away from the enterprise is leisure.
Answer:
1. The failure to file a personal tax return in a timely manner is usually considered an act discreditable to the profession.
2. Advertising is permitted as long as it is not false or misleading.
Explanation:
It is considered one of the ethics of the AICPA for its members to always file their personal tax return timely. In a case where this is not done, it is considered a discreditable act to their profession. Furthermore, according to the AICPA, as long as what is being advertised portrays true intentions of the organization and does not mislead people, advertising is permitted.
Answer:
The correct answer is letter "A": conducting appraisals of employees.
Explanation:
Performance appraisals are evaluations companies make of their employees to find out how well they are performing their duties. The evaluation is standardized having a set scoring system used to determine if the workers are underperforming or not. If their performance is lacking, a course of action is established with the direct supervisor of the worker who is in charge of the appraisal.
<em>The Human Resources (HR) department of the company does not conduct employee performance appraisals.</em>
Answer:
Check the explanation
Explanation:
Percentage-of-completion(2013 + 2014) - Completed contract(2013 + 2014) * 1 -.40
= $500,000 + $ 250,000 - $300,000 +$200,000 *0.60
=$750,000-$500,000 * 0.60
=$250,000 * 0.60
=$150,000 to record the income effect
