The difference is called the range
Answer:
B) No change in total assets.
Explanation:
Since it is given that the company accepts a six-month note receivable so that it replaces the account receivable of the customer. Due to which there is an increase in note receivable and a decrease in account receivable.
Since the increase and the decrease is taking place in the assets that reflects there is no change in overall total assets
Answer:
$15,000 and $17,000
Explanation:
The computation is shown below:
But before that we have to determine the total dividend of preference stock i.e
= 3,600 shares × 5% × 50%
= $9,000
Now the 3,100 is paid, so the remaining amount is
= $9,100 - $3,100
= $6,000
So the total dividend paid to preference shareholders is
= $9,000 + $6,000
= $15,000
And for common shareholders, it is
= $17,000 - $15,000
= $2,000
Answer:
Option C) Littman's $179 expense will be greater than $100,000
Explanation:
Data:
Littman LLC placed in service on July 29, 2019, machinery and equipment (seven-year property) with a basis of $600,000. Littman's income for the current year before any depreciation deduction was $100,000
From the options, In order to minimize depression, Littman's $179 expense will be greater than $100,000. This will come from the profit loss reconciliation. Hence option C will be the correct option in this case.
Answer:
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