Answer and Explanation:
The journal entry to record the receipt of the subscription is as follows:
Cash ($28 × 10,500) $294,000
To Unearned Subscription Revenue $294,000
(being the receipt of the subscription is recorded)
Here the cash is debited as it increased the assets and credited the unearned subscription revenue as it also increased the revenue
Answer:
A) If Ray elects to treat both departments as a single activity, he can offset the $60,000 loss against the $100,000 income.
Explanation:
Ray probably decided to separate both departments in order to have a more precise record of each department's performance, but he can decide to treat them as a single unit and combine both departments' revenues and costs. By doing that, the income generated by department A would offset the losses from department B.
C. It is calculated by adding the seasonally adjusted unemployment rate to the annual inflation rate.
Six years ago, Angie invested $50,000 that she inherited from her grandfather into a growth stock mutual fund. Each share of the fund cost $22/share. Yesterday, she perused a mutual fund quote on the Internet. The quotation showed (1) Year To Date Return; (2) Yield; (3) Net Asset Value; (4) Previous Close. Which of these will provide her with an indication of the present price per share she can expect to realize if she calls her broker tomorrow morning and asks her to sell the shares? Group of answer choices:
Answer:
Six years ago, Angie invested $50,000 that she inherited from her grandfather into a growth stock mutual fund. Each share of the fund cost $22/share. Yesterday, she perused a mutual fund quote on the Internet. The quotation showed - Net Asset Value (Option 3).
Explanation:
The Net Asset Value (NAV) reveals the market price for a share of Angie's mutual fund. It is calculated each evening at the close of the trading day. All other shares purchased the following day are traded at the Net Asset Value, calculated the night before and the prices of mutual funds do not fluctuate during the day.
Thus, option 3 is the correct answer choice.
Answer:
Bobby cannot deduct the loss
Explanation:
Bobby cannot claim deductions for theft on his property because from 2018 to 2025 they are not allowed as itemized deductions unless they are federally declared disasters in which case he would still need to have to complete the form 4684 and use the form 1040 schedule A to report his claims