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.
Answer:
The correct option is;
Loss of national monetary and exchange rate policy
Explanation:
The disadvantages of the establishment of monetary unions includes;
1) The loss of independence in monetary policy
2) The associated problems that arise due to the the initial establishment of the union
3) Tedious nature of the task of attaining comprehensive capital mobility
The advantages are;
1) Lack of uncertainty in exchange rate variation
2) Reduced cost of doing business
3) Improved fiscal stability as well as control of the inflation rate by supranational central bank.
Answer:
trying to close the sale
Explanation:
When someone is closing a sale, he/she is trying the complete the sales process by effectively getting a purchase order. In this case, the salesperson is trying to convince the client to finally place an order for 20 cases of Ecco brand golfing shoes. The whole selling process is carried out to finally be able to close the sale, it is the climax of the sales process, the salesperson either makes it or not.
Answer: B. $5,000 inventory, $0 accounts receivable
Explanation:
Daniel's basis in JRD is $21,000
Inventory fair value is $16,000
$21,000 - $16,000 = $5,000
Accounts receivable inside basis is $0.
Inside basis is basically each partner's tax basis in the partnership.
Answer:
c) Unearned Revenue $ 500, Revenue $ 500
Explanation:
When the cash was received on August 01, no accounting services were provided so the entry would have been:
Cash Debit $ 1,200
Unearned revenue Credit $ 1,200
Unearned Revenue is a liability account
On December 31, a recognition needs to be made for the services revenue earned and hence the amount for 5 months amounting is debited to unearned revenue and revenue credited with $ 500.
