Answer and Explanation:
The tax consequences for the following events -
a. The organization should record the amount of $10,000 in the year 2018 as they followed the cash basis and the cheque should be equal to the cash also troy could not able to record the bonus till it is actually collected
b. As per the accrual basis, the income should be recorded when they are earned not when they are received so the corporation should record the income in the year 2018 as the agent performed the service
c. Since the restrictions that are imposed on cheque for payment purpose should be treated as the substantial and the cheque should not be equivalent to the cash because the customer told that check should be held till Jan 2019 so the income should not be recorded in 2018
Answer:
Unrealized gain = $12,000
Explanation:
Security Cost A Fair value B Unrealized amount (B-A)
ABC $40,000 $55,000 $15,000
DEF $72,000 $65,000 -$7,000
XYZ $16,000 $20,000 <u>$4,000</u>
Total <u>$12,000</u>
So, the unrealized gain to be recorded is $12,000
Answer:
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Explanation:
Comparative advantage<span> refers to the ability of a party to produce a particular good or service at a lower opportunity cost than another.Hope you like:)</span><span>
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Answer:
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Explanation:
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