Cash basis of accounting is the one that recognizes when cash has been paid and received unlike accrual basis.
<h3>What is cash basis of accounting?</h3>
Cash basis of accounting is the one that recognizes when revenue when received unlike accrual basis.
It is important to know that cash basis of accounting ensures the company always knows how much cash flow it has.
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Answer:
A. Combining related value-chain activities of different businesses into a single operation.
Answer:
The answer is to Configure Files Connect and include the External object in the global search
Explanation:
To configure files connect and include external data is creating an external lookup relationship as the data type between the two community.
<u>Solution and Explanation:</u>
• The Significant dangers and awards of responsibility for products have been moved to the purchaser.
• The dealer holds neither proceeding with the administrative contribution to the degree generally connected with the possession nor powerful authority over the products sold.
• The measure of the income can be dependably estimated.
• It is plausible that the monetary advantages related to the exchange will stream to the vender.
• The cost brought about or to be acquired in regard to the exchange can be estimated dependably. In such conditions, any thought previously got for the offer of merchandise is perceived as an obligation. So therefore, receipt of $1000 received by Tesla as a reservation payment from a customer is recorded as short term liability in its books.
Entry shall be as follows:-
Bank/Cash A/c Dr. $1000
To Advances from Customers $1000
Answer:
The sale results in an ordinary loss of $100,000 and long-term capital loss of $25,000.
Explanation:
Stacy, who is married and sole shareholder of ABC Corporation, sold all of her stock in the corporation for $100,000. Stacy had organized the corporation in 2009 by contributing $225,000 and receiving all of the capital stock of the corporation. ABC Corporation is a domestic corporation engaged in the manufacturing of ski boots. The stock in ABC Corporation qualified as Sec. 1244 stock. The sale results in AN ORDINARY LOSS OF $100,000 AND LONG-TERM CAPITAL LOSS OF $25,000.
