Answer:
December 31
- Dr Equity Investments account (Blue Mission) 34,000
-
Cr Revenue from Investments account 34,000
Explanation:
Since Base owns 34% of Blue, they should record 34% of Blue's net income = $100,000 x 34% = $34,000
December 31
Dr Equity Investments account (Blue Mission) 34,000
Cr Revenue from Investments account 34,000
Equity investments account is an asset account and it increases, therefore it should be debited.
Revenue from investments is a revenue account and all revenue is credited.
The replacement period ends on December 31,2023 based on the information given about the insurance.
<h3>How to explain the information?</h3>
It should be noted that the replacement period is the period beginning and ending the reimbursement of an equipment.
It should be noted that the replacement will begin on the date when the equipment was stolen. In this case, it will then end two years after the close of the first tax year where the part of gain is realized.
Therefore, the replacement period ends on December 31,2023
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Options
A) September 30, 2023
B) December 31, 2023
C) December 31, 2022
D) December 31, 2021
<span>Integrative negotiation </span>
Answer:
$20,000
Explanation:
Calculation for the liability that should be reported for vacation pay
Using this formula
Liability=Vacation weeks*Compensation averaged per week for Year 1
Let plug in the formula
Liability=20 weeks × $1,000 per week
Liability = $20,000
Therefore the amount of liability that should be reported for vacation pay will be $20,000
