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4 years ago

Custer County is considering raising revenues by imposing a $25 fee on couples who obtain a marriage license within the county.

Business

1 answer:

Andreas93 [3]4 years ago

8 0

Answer:

The payment serves as a fee for the service rendered by government. It is slightly different from a transaction-based tax due to the fact that a private party and the jurisdiction are involved in a transaction instead of the normal operation in a market transaction that occurs between two or more private parties. This also gives the payer a certain opportunity which is the right to get married under law.

Explanation:

The payment serves as a fee for the service rendered by the government. It is slightly different from a transaction-based tax due to the fact that a private party and the jurisdiction are involved in a transaction instead of the normal operation in a market transaction that occurs between two or more private parties. This also gives the payer a certain opportunity which is the right to get married under the law.

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No rule 34 stuff people

Rama09 [41]

This is very much factual

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3 years ago

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Rogers, Inc., acquires 15% of Procter Corporation on January 1, 2020, for $70,000. During 2020, Procter reported net income of $

ioda

Answer:

a) Investment Value as at December 31, 2020 / Jan 1, 2021 $64,000

b) Value of Equity Investment Dec 31, 2021 $491, 000

Explanation:

First Part is to calculate the January 1, 2021 entry to adjust the Equity account based on additional acquisition on that date

It should be noted that the investment balance as at 31st December 2020, will also be the value of the investment balance for the start of the next year January 1st 2021.

Therefore,

Step 1: Calculate the Investment Balance as at 31st Dec, 2020

Acquisition Cost of 15% Investment (Procter Corporation Jan 1) $70,000

Subtract: The dividend received 31st Dec, 2020 ($40,000 x .15) ($6,000)

Investment Value as at December 31, 2020 $64,000

Step 2: Calculate the Investment Gain (Equity Investment)

The formula= Market value of Equity (year end) - Carrying Value (calculated in step 1)

= $68,000 - $64,000

= $4,000

Step 3: The journal entry to adjust the equity investment account

Date Particulars Debit Credit

Dec, 31, 2020 Equity Investment $4,000

Gain Unrealized on Equity Investment $4,000

being the journal record adjusting equity investment at the time of new acquisition

Part B: Balance of the Equity Investment Account Dec 31, 2021

The value of the Investment as at 31, Dec, 2020 $64,000

Add: The additional investment in Procter (Jan 1, 2021) $310,000

Add: Net Income Share for Rogers (45% x $300,000) $135,000

(45% because the initial 15% and the 30% additional)

Subtract: Dividend received (45% x $40,000) ($18,000)

Value of Equity Investment Dec 31, 2021 $491, 000

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3 years ago

Susan spector is in the process of putting together the business model for her startup and is currently working on her core comp

Andreas93 [3]

Susan is working on "strategic resources".

Strategic resources are the building squares of upper hand in business. Three standard organization resources that consolidate to make upper hand are an organization's financial strength, its enterprise knowledge and its workforce. For a business to adequately and effectively seek after its business objectives, its human resourcing ought to be lined up with its strategic planning and by and large business objectives.

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4 years ago

Which of the following does not promote increased international trade and economic growth?

LUCKY_DIMON [66]

Answer:

High Tariffs

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4 years ago

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Burr Publishers purchased a building on March 20, 20Y1, for $160,000. Other amounts related to this purchase are as follows:

RUDIKE [14]

Answer:

1. Which amount related to this purchase should be recorded in the accounting records?

d. 160,000.

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2. The resources owned by a business are its _____.

c. assets.

Assets are all the resources a business uses to carry out their normal business activities and operations.

3. The rights and claims of creditors on a company's assets are represented by _____.

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Liabilities represent all the debts that a company has.

4. Which element of the accounting equation represents the rights of owners?

b. owner's equity.

Equity refers to the part of a company owned by its stockholders or owners. A company can finance itself through all equity, or it can have a mixed financing structure with equity and debt (liabilities). The investment made by the owners of a company is represented by the equity part of the balance sheet.

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4 years ago