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maria [59]
3 years ago
8

. Boeing is incorporated in Seattle, Washington. It has a large facility in Huntsville, Alabama, and is considered a(n) ____ in

Alabama because it conducts business within Alabama. a. outsider b. domestic corporation c. foreign corporation d. tax write-off e. alien corporation
Business
1 answer:
umka2103 [35]3 years ago
5 0

Answer:

The answer is: c

Explanation:

A domestic corporation is a company that conducts business in the state or country where the company was incorporated. A foreign corporation is a company that conducts business in a state or country other than the state or country where the company was incorporated. An alien corporation is a company that conducts business in any other country other than the country where the company was incorporated. Boeing was incorporated in Seattle, Washington but conducts business in Alabama which is a different state. In Alabama, Boeing is a foreign corporation but in Washington, it is a domestic corporation.

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3. A trader has a short position of 10 contracts in a crude oil futures contract. Yesterday’s closing price was $55.30/barrel. T
forsale [732]

Answer:

The trader has incurred a loss because the price of crude oil futures has increased.

Loss = (Today's closing price - Yesterday's closing price) * 10 * 100

Loss = (57 - 55.30) * 100 Per contract

Loss = $170 per contract

Loss for 10 contracts = 170 * 10 = $1,700

Now the account balance = Current margin balance - Loss for 10 contracts

The account balance = 28,000 - 1,700

The account balance = $26,300

Maintenance margin for 10 contracts = 2,500 * 10 = $25,000

Since the account balance is greater than the required maintenance margin for 10 contracts, the investor is not required to deposit money into the margin account.

Explanation:

7 0
2 years ago
Concord Company purchased equipment for $25200 on December 1. It is estimated that annual depreciation on the equipment will be
Ray Of Light [21]

Answer:

Debit Depreciation Expense, $525;

Credit Accumulated Depreciation, $525.

Explanation:

Based on the information given in a situation where the financial statements are to be prepared on December 31, which means that the company should make the following adjusting entry:

Debit Depreciation Expense, $525

Credit Accumulated Depreciation, $525

Calculated as:

Debit depreciation expense $6,300/12

Debit depreciation expense=$525

7 0
3 years ago
A Condominium owner files a declaration with the county clerk which divides his individual ownership and ownership in common ele
Degger [83]

Answer:

subdivision

Explanation:

A real property subdivision takes place when a real property (parcel of land, house, etc.) is divided into smaller areas. The whole idea behind a subdivision is that it should be easier to sell the property in smaller parts.

When a subdivision is carried out on a condominium, the physical space is not divided, rather the property time is divided into time share units. In this case, a person can purchase the right to use that condominium during 3 weeks each year.

4 0
3 years ago
A firm will experience a loss when its revenue is less than its expenses
tatiyna
The answer for this question is True
5 0
3 years ago
__________ is a contra asset account representing the amount of accounts receivable that we do not expect to collect.
maw [93]

Answer:

Allowance for uncollectible accounts

Explanation:

This account is a contra asset account which says that the account receivable amount is not collected in near future

It is shown in the asset side of the balance sheet

Assets side

Current Assets

Accounts receivable                           XXXXX

Less: Allowance for doubtful debts   (XXXXX)

Net accounts receivable                       XXXXX

It is an estimated amount which is not to be paid by the customer in respect to goods delivered to them

The journal entry would be

Bad debt expense A/c Dr XXXXX

     To Allowance for uncollectible accounts A/c XXXXX

(Being the uncollected amount is recorded)

6 0
3 years ago
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