Answer:
$46,000
Explanation:
We can find out the the revaluation gain that need to be reported at the year end by just deducting the the cost of the investment by its current fair value .
DATA
Fair value = 588,000
Cost = 542,000
Revaluation gain = Current fair value - Cost
Revaluation gain = 588,000 - 542,000
Revaluation gain = $46,000
The revaluation gain of $46,000 will be reported in other compreensive income of smith's financial statements.
The answer is c. 10-20 seconds
Answer:
Real property consists of the land, land rights, and anything permanently attached to the land, while real estate consists of a structure attached to the land
Explanation:
Real estate refers to land that has a physical existence and the resources, structures are attached to it also it expands with respect to the rights of ownership and usage
While on the other hand the real property comprises fo land, rights of the land, and the thing that is permanently attached with respect to the land
Therefore the last second option is correct
Answer:
A) Recession
Explanation:
Recession is a term in economics that refers to a situation where there is decline in economic growth. Specifically a recession is said to have occurred if for two or more consecutive quarters a negative economic growth is observed meaning that there is a decline in the gross domestic product (GDP). The implication of recession is that companies have less cash and revenue, so they will seek to reduce cost by cutting down on wages and employment which will generally lead to reduced output, income and jobs. Recessions are usually triggered by financial crises in an economy and government usually tackles it by spending more and reducing the cost of taxes
In 2019, Sauder should record interest expense of $63,397.
Explanation:
- The equipment has an estimated useful life of 7 years and no salvage value. Sauder uses the straight-line method of depreciation for all of its fixed assets.
- The minimum lease payments were determined to have a present value of $833,972 at an effective interest rate of 10%.
- The easiest way to calculate the record interest expense is that to multiply a debt of a company by the average interest rate of its debts.
- Interest expense can be considered both as liability and also an asset.
- These items can be taken on the balance sheet, which can be completed from the accounting software.
- Interest occurred, but it has not been paid as according to the balance sheet date, it is referred to as the accrued interest. An interest rate that has incurred.
- In 2019, Sauder should record interest expense of $63,397.
