1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anna007 [38]
2 years ago
10

Molly operates a gym. She sells memberships that entitle the member to use the facilities at any time. A one-year membership cos

ts $360 ($360/12 = $30 per month); a two-year membership costs $600 ($600/24 = $25 per month). Cash payment is required at the beginning of the membership period. On July 1, 2019, Molly sold a one-year membership and a two-year membership.
I. If Molly is a cash basis taxpayer, her 2015 gross income from the contracts is $960 ($360 + $600).
II. If Molly is an accrual basis taxpayer, her 2015 gross income from the contracts is $330 [(6/12 × $360) + (6/24× $600)].
III. If Molly is an accrual basis taxpayer, her 2016 gross income from the contracts is $630 [(6/12)($360) + $450]

a) Only I is true.
b) Only I and II are true.
c) Only II and III are true.
d) I, II, and III are true.
e) None of the above.
Business
1 answer:
zlopas [31]2 years ago
8 0

Answer:

d.  I, II, and III are true

Explanation:

You might be interested in
Does having social responsibility make you viewed more or less favorable by consumers?
enot [183]

Answer:

Depends on the person but probably not

Explanation:

6 0
2 years ago
E-Eyes has a new issue of preferred stock it calls 20/20 preferred. The stock will pay a $20 dividend per year, but the first di
tensa zangetsu [6.8K]

Answer:

$63.27

Explanation:

Calculation of how much should you pay on the stock today

First step

The Price of stock 19 years from now will be:.

20/0.075

= 266.67

Second step

The Price of stock today will be :

The price of stock from 19 years from now which is:

250 / (1.075)^19

=250/3.951489

=$63.27

Therefore how much should you pay on the stock today will be $63.27

5 0
3 years ago
The Baldwin company currently has the following balances on their balance sheet: Assets $180,506 Common Stock $11,365 Retained e
Amiraneli [1.4K]

Answer:

The total liabilities for the next year amount to 37163 $.

Explanation:

To calculate the liability we will use the simple equation given below.

Asset-equity=liability

Assets-RE=Liability

                        Current year      Change*        Next Year

Assets                  180,506.00    29,506.00        151,000.00  

Common Stock   (11,365.00)         0               (11,365.00)

Retain Earning  (92,472.00)  (10,000.00)      (102,472.00)

Liability- BaL figure   76,669.00                           37,163.00  

   

*Retain earning= Net profit- dividend  

Hence balancing figure that is 37,163 dollars is liabilty for next year,  

7 0
3 years ago
What is the safest way to install a new flash drive that you just purchased? Check all of the boxes that apply.
BlackZzzverrR [31]

Answer:

  1. Plug it into one of the computer's USB ports.
  2. Wait for the computer to recognize the flash
  3. drive.
  4. Install drivers if prompted to do so.
4 0
3 years ago
Which of the following is a characteristic of a monopoly market?
EleoNora [17]

Answer:

single seller competition in the short run

Explanation:

because Monopoly is considered a product maximizer so it can't be minimal and it most definitely is not close substitute for their products and services

5 0
2 years ago
Other questions:
  • On November 6, 20X7, Zucor Corp. purchased merchandise from an unaffiliated foreign company for 50,000 units of the foreign comp
    13·1 answer
  • The natural rate of unemployment will help determine
    5·2 answers
  • A​ monopolist's maximized rate of economic profits is ​$2 comma 700 per week. Its weekly output is 900 ​units, and at this outpu
    7·1 answer
  • Which of the following is a distinctive feature of metes and bounds descriptions?
    7·1 answer
  • The​ bring your own​ device phenomenon has raised​ _____________ concerns for companies.
    6·1 answer
  • Barter is the exchange of goods and services for goods and services without the use of money. any exchange, with or without the
    6·2 answers
  • Why is budgeting important for a company? What are some reasons that a company would not prepare a budget?
    11·2 answers
  • Which of the following are NOT required for use of the rental real estate safe harbor?
    14·1 answer
  • a. Jamie purchases a washer and dryer from McKinney Appliances. She applies for the instore credit card. The application contain
    9·2 answers
  • The only way to decrease your lifestyle budget is by completely eliminating an item.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!