Answer: Please refer to the explanation section
Explanation:
The question is incomplete, the statement which we much choose from are not given in the question we will explain the question and provide a clear solution to make it easier for the student to single out a false statement.
Property acquisition was financed by two mortgage Bonds, First Mortgage Bond was $60 000 and the second mortgage bonds was $23 500. Ignoring interest rate we can assume that the Value of the Property is $83500 ($60 000 + $23 500).
Property was sold for $88000, There is a profit on sale of the property. Profit earned amounted to $4500 ($88000 - $83500). The profit on sale of property ($4500) will reported on the income statement. The property Value will be derecognized from long term assets in the the balance sheet statement.
The profits on sale of the property will form part of the net income for the year. Net income is distributed to shareholders in the form of dividends. We can therefore conclude that a portion of Profits on sale of property, if not all will be distributed to the share holders as dividends
Answer:
The correct answer is A
Explanation:
Price floor, also referred to as the minimum price, which is described as the lower limit placed by the regulatory authority or the government on the price which is per unit of the product or the commodity.
Non- binding price floor, means that the price floor is less than the present price of the market, and the equilibrium price will be more or above the price floor.
So, when the price floor is not binding, then the market will be shortage or less than from the present price.
Answer:
$44,300
Explanation:
The account payable had a beginning balance of $11,400
The company purchased $52,000 worth of supplies
The ending balance is $19,100
Therefore the amount in which the company paid to the creditors can be calculated as follows
= $11,400+$52,000-$19,100
= $6,400-$19,100
= $44,300
Cash receipts puts you at the LEAST risk of identity theft.
Answer:
Unsecured Loan
Explanation:
Unsecured Loan is the loan which is approved by the bank without the requirement of collateral. Rather pledging the asset, borrower need to qualify grounded on their income and the credit history.
In this scenario, Zachary who is a graduate took a loan which is not backed by any asset and he fails to pay the loan. It is a kind of unsecured loan.
