Answer:
$13,000
Explanation:
Given that:
Jeremy operates a business as a sole proprietorship which uses a cash method of accounting. Now he is planning transfer them into a new corporation in exchange for its stock.
The assets are :
$10,000 of accounts receivable with a zero basis
have a basis of $20,000 and an FMV of $40,000
Liabilities
payable of $12,000
The note payable on medical equipment is $7,000.
Therefore , Jeremy's basis for his stock is : $20,000 -$7,000 = $13,000
since that will reduce the basis by amount of the note payable.
The liabilities payable will be deducted and taken care of by the corporation.
Answer:
Being productive means to be able to get more things done in a period of time and six suggestions to ensure that your telephone calls on the job are productive are:
-Plan an agenda to handle the call to know what you need to discuss.
-Have a clear goal to accomplish with the call to avoid discussing things that are not relevant to this.
-Avoid small talk that can take a lot of time and doesn't allow to get to the point.
-Limit the duration of the call to get people to focus on the important things.
-Summarize the points of the call to make sure that everyone is on the same page.
-End the call when the goal that was set has been accomplished.
Answer:
July 19;
Dr: Cash -----------------$784
Dr: Sales Discount----$16
Cr: Accounts Receivable--------$800
Explanation:
On July 19, the business must have factored in the $100 goods that was returned on July 12, so this will automatically reduce the accounts receivable to $800($900 - $100).
The discount does not reflect if paid on the last day of the month, so the discount of 2percent is still on as at July 19. The discount will be $16(2% of $800) and the amount of cash to be expected will be $784($800-16).
Therefore, the adjusting entry will be:
July 19;
Dr: Cash -----------------$784
Dr: Sales Discount----$16
Cr: Accounts Receivable--------$800
Answer:
D) has a market price that exceeds par value
Explanation:
Option A, incorrect, because duration is not less than 1 always and here duration might be less than or equal to maturity.
Option B, incorrect, the face value is less than market value in premium bond.
Option C , incorrect, because a premium bond could be non callable
Option D, correct, because market value of of bond is higher than par value on premium bond.
Option E, correct, it is a discount bond when price is less than par value
Answer:
$25,200
Net operating income would reduced by $25,200
Explanation:
As per the given question the solution of financial advantage (disadvantage) of dropping B90D is provided below:-
Net operating income of Dropping B90D = Sales - Variable Expenses - Fixed Manufacturing Expenses - Fixed Selling & Administrative expenses
= $794,600 - $412,900 - $191,000 - $165,500
= $25,200
So, we have calculated the financial advantage (disadvantage) of dropping B90D by using the above formula.
Net operating income would reduced by $25,200