Answer:
Date Account Titles Debit Credit
Oct 01 8% Note Receivables $35,000
Land $30,000
Gain on sale $5,000
(To record the sale of the land)
Dec 31 Interest receivable $700
Interest Revenue $700
(35,000*8%*3/12)
(To record Interest Revenue on Note for 3 month recognized)
Answer:
About 84.2
Explanation:
8% of 78.00 = 6.24
78.00 + 6.24 = 84.24 (Around 84.2
apologies if wrong
Answer: $10,000
Explanation:
If you purchase a house and pass the ownership test of having lived in the house for at least 2 years in the past 5, you can exclude $250,000 from the capital gains as a single person.
Lori passes the ownership test and so can claim the tax exclusion.
Capital gain:
= Cash received - Purchase costs
= (575,000 - 35,000) - (250,000 + 5,000 + 25,000)
= $260,000
After claiming exclusion of $250,000
= 260,000 - 250,000
= $10,000
Answer:
The correct option to the following question is option (A).
Explanation:
Open-source software or OSS is the computer software in which the source code can be modified, enhance and, inspect by anyone but they have to distribute that software free of cost.
The person who modifies and enhances that Open Source software does not apply cost on it because this is illegal. The open-source software is the software that is distributed free of cost in the market.
- The other options are not correct because any programmer can check and modify the quality and again distribute in the market.
Answer: The correct answer is "B. Under the First Amendment, commercial speech is given less protection than non-commercial speech.".
Explanation: The statement "B. Under the First Amendment, commercial speech is given less protection than non-commercial speech." is true when it comes to advertising because the first amendment regulates issues about freedom of expression which determine that, in short, commercial discourses are less protected than non-commercial discourses.
