Answer:
A) (I) is true, (II) false.
Explanation:
Banks are financial intermediaries that accept deposits and make loans.
However the term "banks" does not regularly include firms such as credit unions, insurance companies, and pension funds.; because credit unions are not-for-profit organisations and insurance companies are a non-bank financial institution that provides its customers risk protection depending on the level of policy they have sold to such customers. Pension funds are more like deposits made against retirement.
Answer: Mortgage interest is a loan.
Explanation:
Answer:
0.04 *60,0000= 2400
Debt Credit
Bad debt expense 2400
Accounts receivables 2400
Allowance for doubtful accounts 2400
Bad dent expense 2400
Explanation:
Explanation:
a)
Mid-month MACRS convention is applicable here because real property is placed in service in the middle of the month in which acquired.
b)
The life of the asset following MACRS is 39 years.
c)
Cost recovery deduction:
The building is listed as the non-residential real property holding 39 years lifetime
Cost recovery deduction for 2015:
= $3,800,000 x 0.535%
= $20,330
Cost recovery deduction for 2019:
= $3,800,000 x 2.564% x (6.5/12 months)
= $52,776
Answer:
$36.79
Explanation:
Calculation to determine What will be the IPO price per share
First step is to calculate the Cumulative shares
Cumulative shares = 375,000 + 400,000 + 250,000 + 400,000 + 2 million
Cumulative shares = 3.425 million
Now let calculate the IPO price
IPO price = $14 × $9 million / 3.425 million
IPO price= $36.79
Therefore What will be the IPO price per share is $36.79