Answer:
Option C is correct.
Cash basis $0
Accrual Basis $24,000
Explanation:
The reason is that under the cash basis, the company would record revenue of $72,000 in the first year which ends on 31 Dec, 2021. And on next two year, there is no revenue recorded under cash basis accounting. But under accrual basis, the expenses and associated revenues must be recorded when they are realized. In the first year the realized amount would depend on the number of months the property was in possession of the Rent Inc. If the number of months that the property was in possession was 12 months then the rental expenses realized would be $24,000 ($72000*12/36). So the correct option would be option C.
Answer:
the amount that should be reported for Liabilities in Kylie's consolidated financial statements is $2,187,382
Explanation:
The computation of the amount that should be reported for Liabilities in Kylie's consolidated financial statements is shown below:
= $793,972 + $1,601,119 - $207,709
= $2,187,382
Hence, the amount that should be reported for Liabilities in Kylie's consolidated financial statements is $2,187,382
The same should be considered
Start to advertise to older people a little more since they spend more time on cruises than younger people
Answer: The earliest the funds could be disbursed would be Wednesday the 6th.
Explanation:
Federal holidays and Sundays are not counted when considering the 3business days rescission period for loans principal residences. The borrower has the opportunity till midnight on these 3 business days after landing papers are signed, the days are Saturday, Monday and Tuesday. With this consideration's, the earliest the funds could be disbursed would be Wednesday the 6th.
