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4 years ago

A gifted depreciable business equipment to her brother. how do you report it if brother sells the equipment

Business

1 answer:

Alja [10]4 years ago

4 0

Answer: It is a No problem gift.

The first type of no-problem gift is personal property.

on which you did not claim Section 179 expensing,

that is not listed property, and

that would not produce a deductible tax loss if sold by you.

Explanation:

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Slinky Company purchased merchandise on June 10, 2021, at a price of $26,000, subject to credit terms of 4/10, n/30. Slinky uses

vampirchik [111]

Answer:

The answer is given below;

Explanation:

June 10.

Inventory (26,000*.96) Dr.$24,960

Accounts Payable Cr.$24,960

2.If payment is made on June 18,2021

Accounts Payable Dr.$24,960

Bank Cr.$24,960

3. If payment is made on July 8,2021

Inventory (26,000-24,960) Dr.$1,040

Accounts Payable Cr.$1,040

Accounts Payable (1,040+24,960) Dr.$26,000

Bank Cr.$26,000

As the credit period of 10 days for discount was not availed, therefore full amount payment will be made.

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4 years ago

Do you think the efforts of Brazil's government to keep the economy growing will e successful

myrzilka [38]

No...........I don't think so

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3 years ago

________ refers to how people make decisions in a lottery or with uncertainty. People do not generally make expected value decis

allsm [11]

Answer:

The correct answer is c. Prospect theory.

Explanation:

Prospective theory belongs to behavioral economics and stands out as an alternative model to the expected utility theory, since the validity of the rational agent's neoclassical assumption is questioned. This theory was developed by Nobel laureate Daniel Kahneman and his collaborator Amos Tversky in his »Prospect Theory: An Analysis of Decision under Risk” (1979). They used the results obtained from both his own empirical observations, as of several experiments.

Individuals set preferences based on a specific situation and circumstances, rather than in absolute terms. This means that depending on their initial situation, agents will act in one way or another. One of the results of this reasoning leads to behavioral asymmetries between situations of possible losses or gains. Individuals, for example, are generally more risk averse than profit lovers. An endowment effect is also derived from this analysis, since the compensation required by someone to dispose of a good is greater than what they would be willing to pay to acquire it.

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3 years ago

Colleges and universities use funds from a direct stafford loan to pay for _____ first. leftover funds are then disbursed to the

Alexxx [7]

College and universities use funds from direct Stafford loan to pay for school charges first. It is offered to eligible students to help finance their education and it must be repaid and are offered to both undergraduate and graduate students.

3 0

3 years ago

Read 2 more answers

Dividends received are classified as operating activities cash flows, while dividends paid are classified as financing activitie

melomori [17]

Answer:

1) cash on hand (bank) - operating acitivites 2) cash on hand (bank) - finance activities

Explanation:

Dividends received increases the amount of cash flow available. Thus on the statement of cash flows it's recorded as an inflow of cashflow under operating acitivities.

Dividends paid are viewed as financing activity and since it's an outflow of cash (money leaving the entity) it is recorded as decrease in finance activities.

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3 years ago