Answer:
December 31, year 9
Explanation:
Here, we want to state that date that is possible for Milo to acquire qualified replacement property.
In order to avoid being taxed on a gain resulting from an involuntary conversion, the property subject to the conversion must be replaced within a specified time, measured from the end of the calendar year in which the proceeds are received.
Generally, the period is 2 years, but it is 3 years when the involuntary conversion results from government condemnation or eminent domain and is extended to 4 years when the loss is in connection with a declared federal disaster area.
We are told from the question that Milo received the recovery on January 2, Year 5, the property would have to be replaced within 4 years from the end of Year 5 or by December 31, Year 9
Answer:
The correct answer is letter "A": on the line following each journal entry.
Explanation:
<em>Brief descriptions</em> can be added after each entry of the journal whenever necessary. The note must be included in the next line of the entry that might need extra explanation or clarification. <em>Accuracy </em>is relevant for accounting purposes since companies tend to be audited and they must demonstrate their transactions are transparent.
The theory that quantity supplied and price are positively related, other things constant is referred to as the law of supply. The law of supply states that when there is an increase in the prices of goods and services there is also an increase in the supply of such goods and services.
Answer:The supply of plumbers in country A is greater than the supply of plumbers in country B.
Explanation:
The state of demand and supply of labour has a great effect on wages of workers. If the supply of plumbers is grater than the number s of households demanding plumbering services the wages for the plumbers will fall because more plumbers are available for the few works available and this is the situation why plumbers in country A earn less than B though the demand in both countries are the same but they do not vary in the same proportion with their demands.
The supply of plumbers in B is not greater than A and this why B earn more. Productivity refers to measuring the level of outputs in relation to the inputs such labour, capital in production and this does not have impact on wages compare to demand and supply of labour but it's impact is on production.
