Answer:
d. $10000
Explanation:
the fair market value of the land in 2020 is $65000 therefore the subsidiary bought the land at a fair market value of $55000 therefore the subsidiary made a profit of $10000 so that is the amount that the subsidiary gained from making the sale and it will be recorded on the consolidated income statement as a gain on sale of $10000.
Answer:
a.Foreign Corrupt Practices Act
Explanation:
Foreign Corrupt Practices Act is a legislature that seeks to outlaw bribing of foreign government officials with a view of gaining some advantage for their business.
The act is mostly binding on publicly traded companies and their officials.
There has been much criticism about this act, as some businesses see it as a way to discourage investment in foreign assets.
Avon Products Inc failed to put controls in place to detect and prevent payments and gifts to Chinese government officials from a subsidiary.
This is a violation of Foreign Corrupt Practices Act
Answer:
GDP = $14,755.1 and expenditure approach
Explanation:
The formula to compute the GDP is shown below:
GDP = Personal consumption expenditures + Gross private domestic investment + Government consumption expenditures and gross investment + Net exports
where,
Net exports = Exports - imports
= $1,935.3 - $2,435.5
= -$500.2
So, the GDP is
= $10,417.1 + $1,818 + $3,020.2 - $500.2
= $14,755.1
And, the summing of all this items which are shown above while calculating the GDP is known as expenditure approach
I've known rent to be considered a taxable income in the year received. It's taxable income that would get claimed on income tax returns.
Juniper Bush Farm has a December 31 fiscal year end. The company has six notes payable
outstanding on December 31, 2014, as follows:
i. A nine-month, 5%, $25,000 note payable issued on July 1, 2014. Interest is payable
monthly on the first day of each month starting on August 1.
ii. A six-month, 4%, $10,000 note payable issued on September 1, 2014. Interest and
principal are payable at maturity.
iii. A seven-month, 4.5%, $40,000 note payable issued on November 1, 2014. Interest and
principal are payable at maturity.