Answer: A - Throughout the course of the trading day, an investor performs several cash transactions in his account which total $12,000.
Explanation: Currency Transaction Reports mandated by Anti-Money Laundering rules require a report to be filed when any of the below stated transactions occur in an account.
1. If the daily aggregate cash transactions of an individual exceeds $10,000
2. if 2 different transactions within a 12 months period seems related and their aggregate exceeds $10,000 must be reported.
3. Any suspicious customers action that suggest that they are laundering money or otherwise violating federal criminal laws and committing wire transfer fraud, check fraud, or mysterious disappearances should be reported
The relationship between Wilma and the seller is called a sub-agent relationship
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What is a sub-agent relationship?</h3>
A sub-agent relationship happens when the agent or broker brings a buyer to purchase a property from him whereaS he is not the property's listing agent.
In conclusion, the relationship between Wilma and the seller is called a sub-agent relationship
Read more about sub-agent
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Im gonna guess tax deduction
Answer: Debit Petty cash $408; Credit Cash $408.
Explanation: Petty cash is a small amount of fund set aside for immediate or urgent minor expenses. In most organizations, there is a limit to the petty cash amount that a business unit can have. And someone is always saddled with the responsibility of managing the fund. It has its business rule in the sense that the amount should not be withdrawn beyond zero balance to throw it into debit.
In the instance of the question, the petty cash is $460 and within September, total expenses of $316 were incurred and paid for, leaving a balance of $144. However, the accountant determines that this cash should be increased by $92 on 1 October, so reimbursement to the fund would be the amount already spent ($316) and the proposed increment ($92), making $408.
Answer: Equipment Cr. $208,831.00
Explanation:
The Asset was purchased at a cost of $208,831.00 and this was reflected in the Equipment account.
When disposing of the Equipment therefore, the Equipment account has to be credited by a total amount corresponding to the same amount which is $208,831.00 to ensure that the asset will be removed from the Equipment account as it is no longer in the company.
