Answer:
Check the explanation
Explanation:
What would be the market prices <em><u>(which is the current or present price at which services or goods can be purchased/procured or sold. In the financial markets, the market price can adjust so rapidly which is mostly how people change their bid or the way they offer prices, or as buyers hit the offer or as sellers hit the bid.) </u></em>for both bond on the day can be seen in the attached images below:
Answer:
The statement is: False.
Explanation:
Farm cooperatives in the United States represent an increasing industry. It is a fact that the number of farm cooperatives has declined but their size has expanded. The main activities have taken place in states such as Washington, Minnesota, and North Dakota because they are surrounded by countries easier for cooperatives to introduce their crops.
Mac and June, who file as married filing jointly with a modified AGI of $430,000 and a tax liability of $20,000.
Option D
Explanation:
For every eligible minor child under the age of 17 at the end of the tax year, the Child Tax Credit is granted to US taxpayers. In December 2017, the recent tax legislation doubled the loan to 2,000 dollars per child, making much of it reimbursable. 1 It was a non-refundable bonus of $1,000 previously.
If the taxpayer is filing jointly then the claim of child tax credit will be up to the tax liability. Thus, Mac and June has tax liability of $20,000 and the maximum limit of child credit is $2,000. Thus, they can claim full $2,000 claim and reduce their liability to $18,000.
We will have an amount of $1,010.04 at the end of a year if you did not take out any funds.
<h3>What formula will be used to calculate the balance?</h3>
The future value formula will be used to calculate the total balance after a year.
Given that: A = $1,000, i = 1%, n = 1, m = 4
Future value = $1,000 * (1 + 1%/4)^(1*4)
Future value = $1,000 * (1 + 0.0025)^4
Future value = $1,000 * 1.0025^4
Future value = $1,000 * 1.01003756254
Future value = $1,010.03756
Future value = $1,010.04
Therefore, we will have an amount of $1,010.04 at the end of a year if you did not take out any funds.
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Answer:
<u>January 1, 2017</u>
Debit: Accounts Receivable $2800
Credit: Deferred Revenue[Wiring Base] - $1120
Credit: Deferred Revenue[Shelving Unit] - $1680
Narration: Contract Detail and invoicing of the client.
<u>February 5, 2017</u>
Debit Deferred Revenue[Wiring Base] - $1120
Credit Revenue Account - [Wiring Base] - $1120
Narration: Revenue recognition of Wiring Base delivered to customer
<u>February 25, 2017</u>
Debit Deferred Revenue[Shelving Unit]- $1680
Credit Revenue Account - [Shelving Unit] - $1680
Narration: Revenue recognition of Shelf delivered to customer
<u>February 25, 2017</u>
Debit: Bank - $2800
Credit: Accounts Receivable - $2800
Narration: Payment received in settlement of contract fully delivered
Explanation:
The question is an example of a Performance Contract.
A Performance Contract is an agreement with a customer by a vendor to discharge a service or provide goods that are distinct from each other. The accounting for this obligations will therefore be recorded and recognized separately.
It is also important to note that the services or goods must be separately identifiable and the customer must be able to derive from each goods on individually or jointly.
The rule is to
- Recognize the contract and invoice amount with the customer as Deferred Income.
- Identify the distinct obligations and services to be provided.
- Identify the transaction amount for each service or good.
- As each obligation is met, the revenue is finally recognized and transferred from Deferred income.
