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adoni [48]
3 years ago
10

If an attorney performs some estate tax work for a client and the client agrees to pay $6,000 to him and $5,000 to a local finan

cial institution for a debt the attorney owes, the attorney has income of:_________
Business
2 answers:
Citrus2011 [14]3 years ago
6 0

Answer:

Explanation:

The total amount paid for the services rendered is $6,000 + $5,000= $11,000.

Although $6,000 was paid directly to him and $5,000 to a financial institution the attorney owes.

Different channels can be used to make payment for services and also at different times. For example payment could be requested as part cash and part bank check. Payment can also be made at various future times.

Regardless of the channels that were used all payments were in relation to the services provided by the attorney.

Lelu [443]3 years ago
5 0

Answer:

$11,000

Explanation:

Attorney income = Amount paid to him + Amount paid to the local financial institution.

Attorney income = $6,000 + $5,000 = $11,000

Since it is an agreement between the attorney and the client to split the payment in that manner, the total income of the attorney is $11,000. It does not therefore matter whether the client paid the total amount to him directly or split it and paid a part to a local financial institution for a debt the attorney owes.

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An efficient market reflectsA) only historical information.B) only the information related to events that have already occurred.
Masja [62]

Answer:

The correct answer is option D.

Explanation:

The efficient market hypothesis is a theory in modern financial economics which states that the share prices reflect all available information and alpha generation is impossible. Neither fundamental nor technical analysis can give excess returns which are also risk-free.

Share prices in an efficient market reflect all the information, both public and private. This information includes future predictions. All this information is widely available to all the investors and they correctly interpret this information and quickly adjust to it.

4 0
4 years ago
Incoterms can be applied to which mode of transportation ?
meriva

Answer:All modes of transportation.

Explanation:Incoterms which is called international commercial terms developed by the international chamber of commerce to define the terms of trade and commercial activities, they are generally accepted and recognised by the Law courts and commercial laws in the most parts of the world. International commercial terms helps to guide procurement processes and trade.

It can be applied in all modes of transportation.

5 0
3 years ago
On January 1, 2020, Crane Company sold to Blossom Company $740000 of its 8% bonds for $655119 to yield 11%. Interest is payable
soldi70 [24.7K]

Answer:

a) $36032

Explanation:

The computation of the interest expense reported is shown below:

= BOnd value × rate of interest × given months ÷ total months

= $655,119 × 11% × 6 months ÷ 12 months

= $36,032

Hence, the amount that should be reported as interest expense is $36,032

4 0
3 years ago
A number of the functional areas of Roseburg's governmental activities, including General Government, Support Services, and Admi
yawa3891 [41]

Answer:

D. in a column separate from the direct expenses.

Explanation:

  • Governments that have chosen to allocate indirect costs should report in a separate column for direct expenditure compared with other governments that do not allocate them.
  • Therefore, direct and indirect costs should not be compounded for reporting purposes. Special and exceptional expenses are reported separately at the bottom of the statement of operations.
  • Transfers between government funds are appropriate or performance transactions, not expenditure allocations, between government activities and government business activities.
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3 years ago
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iren2701 [21]

Answer:

Explanation:

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4 years ago
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