Answer:
Use the same estimations and computations as accounts receivable to determine cash realizable value.
Explanation:
Notes receivable is a balance sheet item, that records the value of promissory notes that a business is owed and has the right receive payment for.
Short term notes receivable are due within a period of one year from the balance sheet date and are catergorised under current assets in the balance sheet.
Answer:
Kate policy will pay 1500 dollars while Johns policy will pay 250 dollars
Explanation:
kates policy will pay 1500 dollars while johns policy will pay 250 dollars.
Since Kates deductible is 500 dollars, this deductible will be subtracted from the 2000 dollars collission loss that occurred when John borrowed her car. which gives $1500. therefore her policy will get to pay 1500 dollars. while johns policy will have to pay $250
Answer:
$9,240 loss recognized
$43,000 basis
Explanation:
Tax basis of share purchase is the cost of share together with any tax related to this purchase.
Mr. Slake's loss recognized on the February 13 sale is $9,240 = total cost of 1,580 share purchased in the past - total amount collected from sales of these share = $49,240 - $40,000 = $9,240
His tax basis in purchase of 1,600 shares on Mar 2 is $43,000, the total cost he paid to acquire 1,600 shares
Becky wants an account that will let her spend her money as much and as often as she needs. - CHECKING ACCOUNT is the best since it allows her to spends as per her needs, but the downside is the she gets no interest
Sanjay - SAVINGS ACCOUNT. Since Sanjay wants some amount of interest and also withdrawal, the savings accounts suits him the best because here you get an interest and are also allowed withdrawals but not as often as with checking account
Neveah- Certificate of deposit (CD) - Since Neveah does not want to spend any money immediately and has a defined time frame of two years after which she wants to spend the money, a CD is best suited since this is a time deposit rather than a demand deposit
