Answer:
Pro forma income or fiscal summaries are some of the time dependent on an association's own definition which isn't technically a right definition.
Explanation:
Fundamentally proforma explanations are projections of the fiscal summaries like accounting report, Income proclamation and income articulation and so on which depend on presumptions like future costs, future income, speculation, financing and so forth. Subsequently it is right to state that proforma fiscal reports depend on element possess series of expectations.
Answer:
C. Debit Insurance Expense, dollar 4, 500; Credit Prepaid Insurance, dollar 4, 500
Explanation:
Date Account Title Debit Credit
Dec 31 Insurance expense $4,500
Prepaid insurance $4,500
($7,750-3,250)
Option C is correct.
She is permitted, according to the applicable tax legislation, to donate $30 000.
This is further explained below.
<h3>How much can Sue's mother give under current tax laws?</h3>
In most cases, Sue's mother is able to pay Ken the first fifteen thousand dollars and then proceed to give Sue the remaining fifteen thousand dollars. Because Sue's mother gave this to her, there will be no tax placed on it because it is considered a gift.
The act or process of passing tax laws, as well as the body of laws that allow for the levying of taxes and the administration of taxes, are together referred to as tax legislation.
Any object or document that is verifiable and that is frequently accepted as payment for goods and services as well as the repayment of obligations, such as taxes, in a given nation or socio-economic setting is considered to be money in that nation.
In conclusion, Sue's mother and father could give Ken and Sue a gift of $15,000 each, bringing the total amount of money they give to each of them to a grand total of $60,000 each.
Read more about tax laws
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Answer:
Crane should report $26,400 as subscription revenue in Income Statement
Explanation:
Amount received towards Subscription = $79,200 for 3 years
Subscription revenue to be recognized in Income Statement of 2020 =
= $79,200 / 3
= $26,400
Answer:
1. work hard
.
2. are
3. $15.
Explanation:
1. In terms of Larry's total utility, it is worse for him to work hard
.
Larry will prefer to shirk as this is easier for him to do than actually work hard, since he stands to generate $50. So it's worse for him to work hard.
2. Sondra and Larry together are better off if Larry works hard instead of shirking.
Sondra and Larry stand to generate more money if Larry works hard because they will lose if Larry decides to shirk instead.
3. The most Sondra should be willing to pay Carrie to supervise Larry, assuming supervision is sufficient to encourage Larry to work hard, is $15.
She should pay Carry an amount half the amount they stand to lose if Larry shirks. Since they stand to lose $30 if Larry shirks, she can pay Carrie $15 to supervise Larry.
