Answer:
One year from the date of the listing if the transaction is not consummated.
Explanation:
Retention period is the number of years as enforced by the law that a certain records must be kept compulsorily before it is eligible for destruction. The retention period shall be 1 one year from the date of the from the date of listing or closing of the transaction if the transaction is not consummated. Retention period is generally in many cases is 1 year and not more than that.
Answer:
$165,000
Explanation:
Given that
The appraisal value is = $167,000
The offer price = $162,000
Acquiring value of property = $25,000
Note Payable amount = $75,000
Mortgage Amount = $65,000
So, The computation of recognize this purchase is as follows:-
= Acquiring value + Payable amount + Mortgage Amount
= $25,000 + $75,000 + $65,000
= $165,000
The K-ABC is different from the wechsler test and stanford-binet because it was designed to measure several distinct aspects of intelligence. The K-ABC test is just designed to measure several distinct aspects of intelligence of human or students who are taking the test. So the answer in this question is, it was designed to measure several distinct aspects of intelligence.
Answer: $528 favorable
Explanation:
The Spending variance for supplies shoes the difference between what the company thought it would spend on supplies and what it actually spends.
Spending variance on supplies = Actual costs - Budgeted costs
Budgeted cost:
= 968 + 8 * 470 frames
= 968 + 3,760
= $4,728
Spending variance on supplies:
= 4,200 - 4,728
= $528 favorable
<em>Variance is favorable when the Budgeted costs are higher than actual costs. </em>
Answer:
Investment of 36,000 - long-term asset
16,000 note payable - current liability
144,000 note payable - non-current liability
Deferred revenue of 52,000 - current liability
Deferred revenue of 26,000 - non-current liability
Explanation:
For the investment amounting to 36,000, it should belong to the long-term asset since the management has no intention of liquidating it next year. For the note payable, only the amount maturing next year should be classified in the current liability.
The excess amount of the note payable should be classified in the long-term liability since its maturity amount will be paid for the next years to follow.
The deferred revenue amounting to 78,000 should be partly current liability and partly non-current liability since only two-thirds of it will be recognized next year and the other one-third will be recognized in the following years.
