In my opinion she shouldn't release the "confidential" information. This may put her job at risk. And I wouldn't jeopardize myself for other people. Instead she may help them in other ways after they have been laid off.
Hope this helps ya!
Answer:
c)Short term capital gain.
Explanation:
Since in the question it is mentioned that the land is purchased by Sol as on Feb 12,2018 for $85,000 and the land was sold by Sol as on Jan 31, 2019 for $90,000 in cash
So as we can see the difference in the purchase date and sale date would be less than one year and the transactions related to the capital assets would be termed as capital gain
Since it is less than one year so it is a short term capital gain
Hence, the correct option is c.
Answer: C. narrow-based calls
Explanation:
Narrow based calls would include calls from one industry. The mutual fund is an "High technology" firm which means that it is a narrow based fund for instance as it is interested only in one industry being the High Tech industry.
The manager should invest in Narrow based calls that focus on the sector if he anticipates that the market will remain flat for the sector. Narrow based Calls are more volatile because they are specific and with the volatility comes higher premiums to be charged.
Should he wish to make income against the portfolio, he should sell these knowing that the options will not be called as the market will remain flat.
Answer:
Dr Bonds payable $50,700
Dr premium on bonds payable $4,265
Cr Cash $53,000
Cr gain on bonds retirement($50,700+$4,265-$53000) $1,965
Explanation:
The premium yet to be amortized on the bond at retirement is the carrying value minus face value i.e $54,965-$50,700=$4265
The premium on bonds payable would now be debited with $4265
The cash paid on retirement would be credited to cash account
The face value of the bonds payable of $50,700 would be debited to bonds payable in order to show that the obligation has been discharged.
