Answer:
c. debit to Interest Expense of $1,000.
Explanation:
The adjusting entry is as follows:
Interest expense Dr ($50,000 × 6% × 4 months ÷ 12 months) $1,000
To Interest payable $1,000
(Being the interest expense is recorded)
Here interest expense is debited as it increased the expense and credited the interest payable as it also increased the liabilities
Therefore the correct option is c.
Answer:
A
Explanation:
In this question, we are asked at what value should the land be recorded in White Repair services records.
Technically, the value of land is to be recorded as purchase price plus improvements.
Generally, what we mean by improvements include such fees such as attorney fees. Looking at the question, we cannot find any of the entries that speaks about payment yo an attorney or any general land issue. This means that we only record the value of the land as purchase price only.
Looking at the question, the purchase price is the accepted seller’s counter offer. This value is $115,000. Hence, it is the value at which the land would be recorded in White repair service records
Answer:
D) Both A. and B. are true.
- A) The schedule provides no information as to whether Jurisdiction M's tax is horizontally equitable.
- B) Jurisdiction M's tax is vertically equitable.
Explanation:
When we are talking about horizontal equity of a tax, we are talking about how the tax base is measured and the ability that taxpayers have to pay the tax. There is nothing here about tax base or taxpayers' ability to pay.
On the other hand, vertical equity deals with the tax rate structure. In this case, the tax rate is progressive, meaning that it increases as the taxpayers' income increases. Progressive taxes are vertically equitable.
<span>The Structural Approach to kinesics studies all movement and sees all behaviors as important and communicative, and studies the KINE or the smallest unit of movement or motion. The External Variable approach however must be interpreted for it to be considered communication, and to be studied. Behaviors must also be full and completed, and it studies the KINEMORPH or the combination of lines, and specific whole movements. And it's also distinguished by idiosyncratic and shared info (personal behaviors/tendencies and behaviors with meaning for the particular group).</span>
