When proprietors decide to combine their business and form a partnership, gaap usually requires that non cash assets be taken over at : C. fair market vale
The data will be used to calculate the percentages of ownership of each combined companies
hope this helps
Answer:
I am from Long Island but live in NC
Explanation:
Answer:
D. Ensure that she credits the loan amount accurately to the customer’s account
Explanation:
Financial institutions are companies that offer a wide range of monetary and financial services to various customers. The financial institutions include; commercial banks, brokerage firms, investments firms and currency exchange companies. The services offered are; cash deposits and withdrawals, loans, investment services and currency exchange services.
These services can be offered to individuals or even companies that might need a wide range of financial services. In order for these services to be conducted in an orderly fashion, the services offered have to be regulated. This means that the service providers and the customers have to operate within a legal threshold. A knowledge of the legal responsibility of each party is therefor important in these type of environment.
In our case, the legal responsibility of Erin who works as a representative of the financial institution would be to ensure that she credits the loan amount accurately to the customer's account since Erin had already approved the customer's housing loan.
Answer:
The euro has gained strength against the dollar.
Explanation:
Exchange rate is a measure of the value of one countrie's currency compared with another. For example how many dollars can be exchanged for a euro.
Most exchange rates are free floating, meaning their value is determined by market forces (demand and supply).
Some countries however peg their currency value.
So in this scenario Thomas is giving more dollars for fewer euros because the euro has more value.
Answer:
The answer is: D) Crimson’s dividends received deduction is $21,000
Explanation:
The dividends received deduction (DRD) allows a company that earns dividends from another company, to deduct those earnings (dividends) from its income tax.
The three tiers of possible deductions are:
- If the company owns ≤20% of the second company, it can deduct 70% of the dividends received.
- If the company owns ˃20% but ≤80% of the second company, it can deduct 80% of the dividends received.
- If the company owns ˃80% of the second company, it can deduct 100% of the dividends received.
Since Crimson owned 15% of the second company, then it can deduct 70% of the dividends it received, which equals $21,000 ($30,000 x 70%).
