Answer:
hi mh name is raj kumar. i am
The Garcias own the condo in freehold but rent it to Suzette in leasehold.
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What is leasehold?</u></h3>
- A leasehold estate is a temporary ownership of the right to possess land or other property in which a lessee or tenant retains real property rights under some sort of title from a lessor or landlord.
- A leasehold estate is often regarded as personal property even though a tenant does have rights to real estate.
- In a leasehold arrangement, one party purchases the right to occupy land or a building for a predetermined period of time.
- Leasehold real estate can be bought and sold on the open market since a lease is a legal estate.
Thus, a leasehold differs from a freehold or fee simple, where property ownership is acquired outright and afterwards retained for an indefinite amount of time, as well as from a tenancy, when a property is let (rented) on an irregular basis, such as weekly or monthly.
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Answer:
D. increase of 23.3%, right on edge
Explanation:
to find the percentage increase, first you need to substract the final from the initial, then divide the difference by the initial, then multiply your answer by 100 to get the percentage
in this case, the final is 127, and the initial is 103
127 - 103 = 24
24 ÷ 103 = 0.233
0.233 x 100 = 23.3%
Answer:
Adjusted net income will be $78,010
Explanation:
According to the Accrual concept all the accrued expenses should be recognized and deducted from the unadjusted net income and all the earned revenues should be recognized and added to unadjusted net Income.
Salaries and wages owed but not yet paid of $820 is an expense which is accrued but not been paid it should be recorded and deducted from the unadjusted net income as earlier expenses were understated.
Interest earned but not received from investments of $780 is the revenue recognized but not been received until now. Accrual Concept requires that when revenue is realized it should be recognized into the accounting records. So it should be added to the net income.
Prepaid insurance premiums amounting to $580 have expired is actually an accrued expense which previously recorded as prepaid expense. It should be deducted from the net income as it is a expense which need to be recognized.
Unearned revenue in the amount of $780 has now been earned. Now it should be added to the net income because it is a revenue item that should be recognized as it is recorded as unearned revenue earlier.
Net income to be $77,850 based on the unadjusted trial balance.
Adjusted Net Income = $77,850 - $820 + $780 - 580 + 780 = $78,010
The answer in the space provided is vertical dimension of a
firm’s structure. This is a structure in which a manager is being relied on or
the one who is responsible of executing a command in means of having to control
the employees and the task that they should do.
