Answer:
A purchase means to take possession of a given asset, property, item or right by paying a predetermined amount of money for the transaction to be completed successfully. In other words, its' an exchange of money for a particular good or service.
Answer:
A. $90,800
B. $87,575
Explanation:
Calculation to determine Daniel's gross income and his AGI
A. Calculation for the Gross income using this formula
Gross income=Salary income + Net rent income + Dividend income
Let plug in the formula
Gross income= $87,000 + 2,500 + 1,300
Gross income=$90,800
Therefore her Gross income is $90,800
B. Calculation to determine the AGI using this formula
AGI=Gross income - (Contribution to traditional IRA + Loss on sale of real estate)
Let plug in the formula
AGI= $90,800 - ($2,400 + $825)
AGI=$90,800-$3,225
AGI=$87,575
Therefore her AGI is $87,575
Answer:
The opportunity cost of each pipe and what is the sunk cost is $77 and $67 per pipe respectively.
Explanation:
Opportunity cost: The opportunity cost is that cost which is incurred to choose the best options with the available options.
Sunk cost: The sunk cost is that cost which is not recovered in the future. Its other name is the past cost. It does not help to make future decisions as if it is incurred then it cannot be recovered again
So, the opportunity would be the current price i.e $77
And, the sunk cost is $67 per pipe ($77 - $10)
Answer:
The correct answer is B. Cumulative currency-translation adjustments.
Explanation:
A cumulative translation adjustment (CTA) is an entry in the comprehensive income section of a translated balance sheet that summarizes the gains / losses resulting from changes in exchange rates over the years. A CTA entry is required under rule No. 52 of the Financial Accounting Standards Board (FASB) as a way to help investors differentiate between actual operating gains / losses and those generated through translation.
By knowing what a company has earned or lost through its daily business operations, rather than through an accounting practice, investors are better able to make sound financial decisions. Accumulated adjustments for conversion are an integral part of the financial statements of companies with exposure to international markets.
The CTA is an item within an accounting statement or balance sheet that handles any gain or loss that has occurred due to participation in foreign currency markets or activities. The individual item is clearly recorded, separating the information from other gains or losses. The CTAs provide additional information on the current state of the business, providing valuable information to both internal employees and shareholders.