It’s practical qualifications that basically relate to a specific job or career sector.
Answer:
Notifying Serena of any material changes
Explanation:
With Serena now serving as their (Mark and debbie Calhoun) agents, it is paramount that Serena (the agent) be notified about any material changes made by the buyers. The buying agents (in this case Serena) is an individual or organization that is responsible for purchasing goods or property on behalf of another person. They are usually license professionals who search and undergo the purchasing procedure of products that their clients is interested in owning.
Answer:
1. $3,067
2. B) $129,127.
Explanation:
a. The computation of amount deposit in transit is shown below:
The amount of deposit in Transit = Balance as per Cash Book as on 30th Sept - Cheque outstanding realized - Bank charges - Balance as per Bank Book
= $12,596 + $6740 - $16 - $16,253
= $3,067
Deposit in Transit inflates the general ledger initially till it is credited in the bank book.
b. The computation of balance should Cardinal's Cash account show
Cash Account should show a balance = Bank Statement Balance as on May 31 - Outstanding Cheque on May 31
= $180,974 - $51,847
= $129,127
As we can see that the cash account balance is less because there is an outstanding
Answer:
$20 loss
Explanation:
Karen Smith bought a coca-cola stock for $475 in March 31, 20X1
She received a non taxable distribution of $155 on November 15, 20X1
The first step is to calculate the adjusted basis
= $475-$155
= $320
Karen sold the stock for $300 on December 22, 20X1
Therefore, her gain or loss on the sale can be calculated as follows
= $300-$320
= $20 loss
Hence Karen has a loss of $20 on the sale
Answer:
Helmut's basis at year-end is $3,900.
Explanation:
Beginning Basis = $2,000
Add: January 1 Liabilities at the rate of 10% = $20,000 × 10% = $2,000
Add: Increase in liabilities by the rate of 10% = $5,000 × 10% = $500
Less: Loss incurred at the rate of 10% = ($6,000 × 10%) = $600
Basis at the end of the year = $2,000 + $2,000 + $500 - $600
Basis at the end of the year = $3,900.
