Answer:
The Journal entries are as follows:
(i) On August 1,
Legal expense A/c Dr. $9,600
To Common stock $8,000
To Additional Paid-in capital $1,600
(To record issue of 800 common shares of par value $10 to attorney)
(ii) On August 15,
Cash A/c Dr. $75,000
To Common stock $50,000
To Additional Paid-in capital $25,000
(To record issue of 5,000 common shares each at $10 par value)
(iii) On October 15,
Land A/c Dr. $48,000
To Common stock $30,000
To Additional Paid-in capital $18,000
(To record issue of 3,000 common shares as a consideration for purchase of Land)
Answer:
Sweeny’s gain on sale is a 125,000 and it is a capital gain.
Jana’s adjusted basis is 225,000 for her LLC Interest.
Explanation:
Hope that helps :)
Answer: The answer is provided below
Explanation:
a). The revenue here shows that
Wendover's patients were capitated. The is because the actual revenue figures were assumed to be $180, but it
later came to $300 which means that the revenue increased.
The reason is that a capitated patient provides fixed payment a year, while a fee for service client pays per usage. With this explanation, it can be concluded that majority of Wendover's patients are fee for service because the difference between static results and the actual results is very high.
) 1. Revenue variance
= Actual Revenues - Static budget
= $ 300 - $ 425
= - $125
2. Volume variance
= Flexible Revenue - Static Budget
= $ 200 - $ 425
= - $ 225
3. Price Variance
= Actual Revenues - Flexible Revenues
=$300 - $200
= $100
4. Enrollment variance
= Flexible Revenues - Static Budget
= $ 180 - $ 425
= - $ 245
5. Utilization variance
= Flexible Revenue- Flexible Budget
= $ 200 - $ 180
= $ 20
It is important for bob to keep the receipt and record in the register so he can monitor how much money he has in the account.
This type of efforts is very important for people who are serious in controlling their budget. Keeping the receipt would help bob prevent himself from taking more money that his budget. It also help bob in identifying the difference during bank reconciliation.