Answer:
Accounts Payable $3,812 credit
<h3>
Explanation:</h3>
Equipment $4,445 debit,
Cash $633 credit,
now, $4445- $633 = $3,812
The correct entry would be $3,812.
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Answer:
$198,000 and $0
Explanation:
The calculation is shown below:
The Cost of the land is
= Purchase price + Real estate commissions + Legal fees + Expenses of clearing the land + Expenses to remove old building
= $178,000 + $15,300 + $1,100 + $2,300 + $1,300
= $198,000
As the property is buy for the building site so here no cost will be recognized and allocated to the new building cost
hence, it would be zero
Answer:
C.Greater than the effective interest.
Explanation:
<u>example</u>
face value 1,000,000
issued at 1,100,000
premium of 100,000
the bond rate is 8%
and the effective rate is 6%
1,100,000 x 6%/2 = 33,000 interest expense
cash proceeds 1,000,000 x 8%/2 = 40,000 cash
amortization on premium 40,000 - 33,000 = 7,000
The cash payment (40,000) are greater than the effective interest (33,000)
If that wouldn't be the case, he premium won't depreciate
The answer is Independent Contractors.
According to the law, An independent contractor is a person who contracts with another to do something for him (or her) but who is not controlled by the other nor subject to the other's right to control with respect to his (or her) physical conduct in the performance of the undertaking. He (or she) may or may not be an agent.
Some examples of independent contractors include:
- Subcontractors and building contractors both work independently. The way a contractor and subcontractors carry out their work is not under the authority of the property owner who engages them to finish a project.
- Independent contractors are those who own their own trucks and hire them out on a job-by-job basis; however, those who regularly drive business trucks are typically employees.
Hence, In the context of agency law, outside accountants and subcontractors hired to perform construction projects are examples of Independent contractors.
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An example is the purchase of insurance policy. Make sure it's safe before doing it, because you never know what can happen! :3
-Mabel <3