Answer:
D. Both A and B
That is bill of sale and financial statements.
Explanation:
Bill of sale is a document that is used to transfer ownership of goods and services to another person.
Financial statement shows activity and a business's financial position at a given point in time.
When selling the business to Simon, Lois will provide him the financial statements and bill of sale.
Answer:
The correct answer is: decrease.
Explanation:
If Aggregate Supply (<em>AS</em>) is higher than Aggregate Demand (<em>AD</em>), it implies somehow consumers are keeping their income with them. Economic activity will <em>contract </em>as a result but to promote consumption, for instance, banks lower their interest rates on loans with the confidence that consumers will have enough money to cover their debts.
Answer:
Answer:
Explanation:
These are the sales, cash receipts, cash disbursements, and purchases journals.
Answer:
Arianna's basis for loss $277,335
Arianna's basis for gain $308,,150
Explanation:
Calculation for Arianna's gain basis and loss basis
Since the original basis for loss on personal use assets that is been converted to either the business or the income producing use is the lower or lesser of the property's adjusted basis or fair market value on the date of conversion which means that the gain basis for the converted property will tend to be the property's adjusted basis on the date of conversion.
Arianna's basis for loss will be $277,335 (lower of $308,150 adjusted basis and fair market value of $277,335).
The amount of $30,815 that was been decline in value is a personal loss whichncan never be recognized for tax purposes this means that Arianna's basis for gain is $308,,150 (adjusted basis).
Answer: Not a wise investment as Cost exceeds Receipts.
Explanation:
As the amount is a constant payment, it is an annuity and as it is in future we are looking for the future value of an annuity:
Future Value of Annuity = Annuity * [ ( 1 + rate ) ^ time period - 1] / rate
= 7,000 * [ ( 1 + 5%)⁸ - 1] / 5%
= $66,843.76
Speculator pays $66,843.76 for loan and sells for $50,000.
The speculator would be paying more for the loan than they will sell the land for so this is not a wise investment.
