Answer and Explanation:
Clude had purchased the raw land three years ago for $150000 and treated it like a inventory. she constributed the property to south peak investments LLC in exchange for 10% profit interest. but south peak will hold it for investment purpose.
a) after 4 years from Cludes contribution south peak sells the land for $3000000 the gain would be $3000000 - 1500000 = 1500000. the character is of long term capital gains since ths LLC held ot as investment asset
b) if south peak sells the asset after 5 years six months then also the gain would be sa,e and character would be same since LLC has held the asset fore investments purpose and at the same time its holding period is above one year.
Answer: Quasi-contract
Explanation:
The quasi-contract is one of the type of retroactive agreement between the two parties and this contract is basically created for the purpose of manage the various types of circumstances such as unjust enrichment regarding the various types of products and the services.
The quasi contract is basically created by a judge in the court too avoid all the conflicts in the party so that both the parties manage their expenses accurately.
According to the given question, Mason can seek the recovery on the basis of the quasi-contract between the Chenao and Mason exchange agreement. Therefore, Quasi-contract is the correct answer.
Answer:
Debit Cash $6,426; credit Interest Revenue $21; credit Interest Receivable $105, redit Notes Receivable $6,300.
Explanation:
Based on the information given the appropriate journal entry that Uniform Supply should make on January 15 of the next year will be:
Debit Cash $6,426
($6300+$105+$21)
Credit Interest Revenue $21
($6300*8%*15/360)
Credit Interest Receivable $105
(6300*8%*75/360)
Credit Notes Receivable $6,300
Answer:
352,000
Explanation:
add up all the numbers, then you divide by 3
Answer:
Be yourself
Explanation:
Don't panic about this! I'd go with casual formal, maybe some jeans and a nice shirt?
Make eye contact a lot and always answer honestly. Goodluck! I hope you get the job <3
