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
Lostsunrise [7]
3 years ago
7

Which of the following constitutes constructive receipt in the current year ended December​ 31?a. A salary check received at​ 6:

00 p.m. on December​ 31, after all the banks have closed.b. A rent check received on December 30 by the manager of an apartment complex. The manager normally collects the rent for the owner. The owner was out of town.c. A paycheck received on December 29 that was not honored by the bank because the​ employer's account did not have sufficient funds.d. A check received on December 30. The check was postdated January 2 of the following year.e. A check received on January 2. The check had been mailed on December 30.
Business
1 answer:
zubka84 [21]3 years ago
6 0

Answer:

a. A salary check received at​ 6:00 p.m. on December​ 31, after all the banks have closed.

b. A rent check received on December 30 by the manager of an apartment complex. The manager normally collects the rent for the owner. The owner was out of town.

Explanation:

The principle of constructive receipt is determined by when the person who receives the income had control over it. An individual or company is considered to have control over income when it is credited to that person or company. Basically, it's when you could spend that income if you wanted, even if you don't spend it.

From the principle of constructive receipt in the above paragraph, only option a (A salary check received at​ 6:00 p.m. on December​ 31, after all the banks have closed.) and b ( A rent check received on December 30 by the manager of an apartment complex. The manager normally collects the rent for the owner. The owner was out of town.) fall within the category. The other three options, the person is unable to spend the check even if they wanted to, until after December 31.

You might be interested in
6. A zero coupon bond with 2.5 years to maturity has a yield to maturity of 25% per annum. A 3-year maturity annual-pay coupon b
kari74 [83]
Ahaha s we. S s s s s s s s s. S ss
3 0
2 years ago
Which career would organize,train and support teachers and educational workers to help them provide better instruction?
borishaifa [10]
Instructional<span> coordinators </span>can provide<span> training for </span>teachers<span> in curriculum</span>
6 0
3 years ago
The following data pertain to an investment proposal: Required investment $75,000 Annual cash savings $18,000 Projected life of
ehidna [41]

Answer:

Explanation:

Using a financial calculator, input the following using CF function;

Initial Investment ; CF0 = -75,000

Yr1 cashflow ; C01 = 18,000

Yr2 cashflow ; C02 = 18,000

Yr3 cashflow ; C03 = 18,000

Yr4 cashflow ; C04= 18,000

Yr5 cashflow ; C05 = 18,000

Yr6 cashflow ; C06 = 18,000

Yr7 cashflow ; C07 = 18,000

Yr8 cashflow ; C08 = 18,000 +4,000 = 22,000

Required rate of return = 16%

then compute Net present value by keying in NPV, CPT = $4,404.74

5 0
2 years ago
Kohlman Company began its operations on March 31 of the current year. Projected purchases for the first three months of business
bulgar [2K]

Answer:

c. $146,400 and 206,560.

Explanation:

Monthly Purchases are as follows;

April =$156,800

May= $195,200

June= $217,600

Since Admin expenses are paid every month,

April =$28,800

May = $28,800

June =$28,800

75% of April purchases will be paid in April . Use these to calculate the payments;

Pmts

April = 75%* $156,800 = $117,600

add Admin expenses to find total cash payments;

APRIL = $117,600+ $28,800 = $146,400

In May,20% of April purchases will be paid ,  75% of  May purchases will also be paid plus admin expenses. Use these to calculate the payments;

May= (20%* $156,800) + (75% * $195,200) + $28,800

MAY = 31360 +146400 +28800 = $206,560

7 0
3 years ago
Tee Time Golf Resort plans to use famous Kauri wood from New Zealand for parts of the interior of the magnificent clubhouse at i
LekaFEV [45]

Answer: C. it's a good time to buy the wood.

Explanation:

$500 = 738NZ dollars, therefore 738 NZ dollar ÷ $500 = 1.476NZ dollar

The current exchange rate is $1 = 1.476NZ dollar

10 foot slab costs $5000, Tee Golf Resort will pay $ 3387.53 ($5000/1.476NZ)

if they import wood from New Zealand. Tee Golf Resort will pay less than $5000 if they import Wood from New Zealand at the current exchange rate. This is a Good time for them to import woods

5 0
2 years ago
Other questions:
  • An evaluation of the effectiveness and efficiency of various systems within an organization is called a(n) _____ audit.
    14·1 answer
  • Mackenzie is responsible for buying a week's supply of food and medication for the puppies and kittens at a local shelter. the f
    13·1 answer
  • 4. Identify and discuss the product branding of the product. Describe the brand and symbol or logo it uses. Provide an image of
    9·1 answer
  • According to Jamie Dimon, "Most leaders I know are working to build something of which they can be proud. They usually work hard
    7·1 answer
  • Why are people so dramatic (PLEASE HELP HAVING TROUBLE UNDERSTANDING) *i just chose a subject *
    7·2 answers
  • Glenn is the R&amp;D manager with Quick Print Inc. The company is having a problem with one of its most popular copiers jamming.
    7·1 answer
  • Cowboy, Inc., an American corporation that produces cowboy hats contract with a manufacturing plant in France, Beret, Inc. The c
    9·1 answer
  • Katsu Corp. distributes property to its shareholders as part of a complete liquidation. The fair market value of the property is
    5·1 answer
  • Gary, Peter, and Chris own a firm as partners. Gary has a capital balance ofâ $22,000; Peter a capital balance ofâ $42,000; and
    13·1 answer
  • Distinguish between the Federal funds rate and the prime interest rate. Which of these two rates does the Fed explicitly target
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!