Answer:
c-$20,000 to discounts
d-$520,000 to cash
Explanation:
At 2/1/18 the balance of investment account is debt $500,000 and discount account is credit $20,000. On sale of Investment $520,000 the cash and discount account will be debited. Journal Entry Should be as follow:
Account DR. Cr.
Discount $20,000
Cash $520,000
Securities Investment $500,000
Gain on sale $40,000
Answer:
Answer is given below.
Explanation:
Dean charitable deductions can be calculated according to below mentioned information.
Cost of the antique painting is $5440 which is also the dean charitable contribution deduction.
Charity is the sole purpose of painting and if it is used otherwise, then its income will be treated as ordinary one and will no longer remain capital gain property.
In earlier case its AGI limit was 30% which will now become 50%.
Agriculture and clothing are the two industries receiving protection.
Protectionism in agricultural trade takes numerous shapes from charges and red tape at the border to so-called non-tariff measures such as agricultural and nourishment security guidelines that surpass those suggested by international public health bodies. The World Trade Organization (WTO) does not set benchmarks but emphatically energizes part nations to utilize universally acknowledged science-based benchmarks at whatever point available along with that The textile and apparel sectors are the foremost ensured segments within the world. not at all like the assurance managed other manufactured items, the materials and apparel segments within the created nations show up to be the beneficiaries of changeless security. Beneath the MFA, trades from creating nations are restricted by sending out shares coming about from bilateral courses of action arranged with bringing in created nations. MFA was at first aiming to supply an efficient but controlled liberalization of universal exchange in materials and attire.
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Answer:
$84,842,000
Explanation:
The book value is total assets less total liabilities
Book value = initial equity + equity issued + net income
$77,842,000 + $4,000,000 + $3,000,000 = $84,842,000
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