Answer and Explanation :
The presentation is shown below:
As per the data given in the question,
Assets = Liabilities + Equity Revenue - Expenditure = Net income Cash flow
Cash + Acc. Rev.
NA $94,850 NA $94,850 $94,850 NA $94,850 NA
$93,901.5 -$94,850 NA -$948.5 NA -$948.5 -$948.5 $93,901.5
We simply present the transactions on the financial statements
Answer:
$300,000
Explanation:
From the above passage, the information given is that the land was valued at $300,000 which is the fair market value price as at when Tobin's father died. What this means is that the amount of $300,000 will be Tobi's basis in the land although the land was purchased by his father at the cost of $19,000 in 1970.
Since the federal estate tax return was filed, and the value of the land was $300,000, hence his basis(Tobin) in the land would be $300,000
Answer:
C. the actual unit price of raw materials or the actual quantities of raw materials used was greater than the standard unit price or standard quantities of raw materials expected.
Explanation:
If the actual direct material cost used is greater than the standard direct material cost, it implies that the cost of material that was actually used in carrying the project is greater than the usual standards for such project or the budgeted standards for such project. When the actual cost is greater than the standard cost, we have an unfavorable variance. When the actual cost is greater than standard cost, it usually implies that the price of unit per raw material used is greater or/and the actual quantities of raw material used is greater.
The automatic option is "extended term".
An extended term insurance refers to a non-forfeiture option which is given by life insurance companies to those policy holders that holds whole life insurance policy. Considers the utilization of cash balance which is held in whole life insurance policy to pay for term life insurance.
Diversifying. It is so that they can tap into other markets.