The right answer for the question that is being asked and shown above is that: "d. It s a list of account titles in the order in which they can be found in the ledger." The statement that best describes a chart of accounts is that d. It s a list of account titles in the order in which they can be found in the ledger.<span>
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$39,000 was Quentin's retained earnings balance on December 31, 2013.
Retained Earnings in the Beginning (December 31, 2013) =
2014 Retained Earnings - Net income =44,000-5,000 =39,000(Answer)
current Ratio = Current Assets / Current Liabilites =90,000 /72,000= 1.25
Calculating the outstanding balance is very simple. Simply divide the company's current assets by its current liabilities. Current Ratios are assets that can be converted into cash within one year, and current liabilities are liabilities expected to be repaid within one year.
current Ratio relate to the company's financial obligations to be paid within one year. A higher liquidity ratio is clearly advantageous for business. A good cash ratio is between 1.2 and 2. This means that the company has liquid assets twice as much as its liabilities to cover its liabilities.
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Answer:
C. managing broker over Agent Smith
Explanation:
a managing broker is someone is held liable over the actions of another broker office or agency that act on the managing broker's behalf. Thse office or agnecy are allowed to act without direct order from the managing broker, but managing broker will be the one that receive all the consequences.
All the profit that is made by managed entity (in this context agent smith) will have to goes to managing broker first and the managing broker will share the profit on a private term with Agent Smith.
In return, the managing broker will have to ensure that all of the agents that he/she has under disposal have to follow the compliance rule that is made by the government. He will manage the licence and annual tests of the agents in order to ensure consumer safety.
Answer:
Option (A) is correct.
Explanation:
Given that,
Purchasing price of taxi = $32,000
Adjusted basis = $2,000 at the time of the accident
Cost of repair = $2,500
Insurance reimbursed Don = $700
Lesser of Adjusted basis at the time of the accident and Cost of repaired is the amount of causality loss before adjustments.
So, lesser amount is $2,000 as compared to the cost of repair ($2,500).
Therefore,
Amount of causality loss before adjustments = $2,000
Hence,
Don's casualty loss deduction:
= Amount of causality loss before adjustments - Insurance reimbursed
= $2,000 - $700
= $1,300
