Quebec could not legally secede.
Answer:
Under the installment sales method, the total contract price is $85,000
gain on the sale is $58,800 ( 85,000 + 15,000 - 40,000 - 1,200)
and the amount of gain reported in 2018 is $3,459.
Answer:
$12,300
Explanation:
I will assume that Joseph invested in the fund on July 14, 2013.
We have to calculate the future value to March 15, 2014 (8 months later).
since the interest is compounded semi annually, it will earn interest on January 14, 2014.
Future value = $12,000 x (1 + 2.5%) = $12,300
since the fund is going to earn interests again on July 14, 2014, the value on march 14 is the same = $12,300
Answer:
A. Asset exchange transaction
B. Asset exchange transaction
C. Investing activity
D. Investing activity.
Explanation:
In the question, the Riley company paid cash to Smally company, and the Smally company paid the amount for the land.
So,
A. For Riley company, it is an asset exchange transaction as the asset exchanges between Riley and Smally company.
B. For Smally company it is an asset exchange transaction as the asset are the exchange between Riley and Smally company.
C. Investing activity. As the Riley company deals in the purchase and the sale of the fixed assets.
D. Investing activity. As the company deals in the purchase and the sale of the fixed assets.
The most difficult to construct.
