I think it's B, to prevent unfair or deceptive business practices. I'm might be wrong though, so you may wanna just check with someone else. Hope this helps
Answer: a. $35000
b. $20000
c. $20000
Explanation:
a. The realized gain will be:
= Fair market value - Adjusted basis
= $55000 - $20000
= $35000
b. The basis for LLC Interest will be will be thesame as the adjusted basis which will be $20000
c. The LLC basis for the contributed property will be $20000 as it's the cost of the adjusted basis .
=
It is an opportunity cost.
Because your are choosing to do one out of the two
Answer:
D. The medical and car repair bills for anyone else involved in an accident you caused
.
Explanation:
Liability insurance covers the medical and car repair bills for anyone else involved in an accident you caused
.
Answer:
January 1, 2018
Dr. Cash $70,000
Cr. Bond Payable $70,000
June 30, 2018
Dr. Interest Expense $2,450
Cr. Cash $2,450
Explanation:
If the market rate is equal to the coupon rate of a bond, the bond will be issued at par. Bond is recognised as a liability and recorded in the account of Bond Payable.
Interest is paid on the face value and stated rate of the bond.
Interest Payment = Face value x Coupon rate x 6/12 = $70,000 x 7% x 6/12 = $2,450.