Answer:
So after 5 year total amount will be $1781.529
So option (a) is correct option
Explanation:
We have given that JG Asset is recommending that you invest $1500 for 5 years at rate of 3.5%
So principle amount P = $1500
Rate of interest r = 3.5 %
Time n = 5 years
We know that when total amount is given by
, here r is rate of interest and n is time period
So amount after 5 years will be
So after 5 year total amount will be $1781.529
So option (a) is correct option
Answer: d. provide disclosure in the footnotes to the financial statements.
Explanation:
A contingent liability is an obligation that a company might owe in future depending on the outcome of an event such as a law suit.
To record a contingent liability in the books, two conditions must be satisfied;
- Loss must be probable
- Amount must be estimable
If these two conditions are not satisfied then the contingent liability may simply be disclosed as a footnote in the financial statement. The amount here is not estimable so can be disclosed as a footnote.
Based on the information given, it should be noted that all proceeds are income tax free in the year that they're received.
<h3>
What is tax?</h3>
A tax simply means a compulsory levy that's paid by the people or companies to the government. It's important to achieve economic development.
For federal tax purposes regarding lump-sum life insurance benefits, it should be noted that all proceeds are income tax free in the year that they're received.
Learn more about tax on:
brainly.com/question/9437038
<span>No, specific performance is not allowed in this case because money damages are available.
In case that a party failed to fulfill the condition that signed on the contract, the court could give 1 of 2 form of punishments.
The first is to forcibly make that party perform the condition (specific performance), the other is to pay back the loss that incurred because of that party fail to fulfill the condition (money damages)</span>
Answer:
Preparation of the adjusting entries as of December 31, 2015.
Dr Salaries Expense 3,920
Cr Salaries Payable 3,920
Explanation:
Since we were been told in the question that all the 15 employees worked the first 2 days of that week, the Adjustment we therefore be $3,920( 1,960×2) . And the transaction will be recorded as:
Dr Salaries Expense 3,920
Cr Salaries Payable 3,920
The Adjustment will be :
1,960 x 2 = 3,920
Therefore the pay that occured in New Year's Day will not be used because it falls in the next year.
