Answer: <em>Loss = $8000</em>
<u><em>Option (e) is correct.</em></u>
Given:
Jerry sold stock to Julie for $5,000
The stock cost Jerry $10,000
Jerry sold Carol stock for $2,000 that cost $10,000
Here; it should be noted that, Jerry and Julie are brother and sister.
whereas;
Jerry and Carol are unrelated party.
Here, the total loss will be computed in regards with the unrelated party:
Loss = Price of stock - Selling price
Loss = $10000 - $2000
Loss = $8000
Answer:
An app on their phone if I had a guess. Or, they didn't use a smart device and they did those things.
Answer:
Commercial General Liability Policy will not provide compensation for injured caused by softball to the Director
Explanation:
Commercial General Liability (CGL) is an insurance policy that provide protection and assurance to a business organisation against any legal liability arising from the use of its property, while in the premises of the insured, from use of product.
The Commercial General Liability provides the coverage below:
-Liability arising from Bodily injury and property damage
-Liability arising from Personal and advertising injury and Medical payments
In this director scenario, the CGL have in its provision and condition to provide compensation for the injury caused as a result of their actions (e.g. building collapse, left broken bottles, bad product which directly affected third party) but the director was injured by his own accompanied property and have no relation whatsoever with the Land company. Hence no indemnity or compensation will be provided under the Commercial General Liability Policy.
Answer:
cash 16,930
note receivable 15,000
interest revenue 1, 930
Explanation:
Pozzi works his accounting under cash basis. This means it do not recognize any interest revenue over the past of time. It will recognize the gain on the loan entirely at maturity, when the cash is received.
Therefore his journal entry at maturity will be:
a debit to cash forthe received amount
a credit to note receivable, to write-off the balance
and a credit to interest revenue to recognize this gain.