Answer:
Gain recognized by Tom is $10000
So option (b) will be correct answer
Explanation :
We have given liability on bulding assumed by Paul Corp = $30,000
Tom's adjusted basis in the building = $20,000
Since the liability assumed by Paul Corp on the building is greater than Tom's adjusted basis, Tom must recognize gain equal to the difference between the liability on the building and his adjusted basis.
So gain recognized by Tom = $30,000 - $20,000 = $10,000
Answer: The answer is: Debit Salary and wages expense $9,900, Debit Salaries and wages payable $37,900, Credit Cash $47,800
Explanation: Since the company has $37,900 sitting in salaries and wages payable account at the end of the month and the payroll revealed that actual amount to be paid is $47,800, this means the company has a shortfall of $9,900 from the salaries and wages payable account. Therefore, this amount that was not accrued for would impact salary and wages expense by $9,900.
Answer:
people can do what they want (with limitations)
people can say what they want (with limitations)
people can believe in what they want
and thats all ive got. good luck on the last two tho
Answer:
The store manager must decide to buy 3
Explanation:
Given that:
- The first: $200 a year
- The second $150
- The third $75,
- The fourth $50
- Interest rate is 12 percent
- Investment: $500
As we know that the rate of return will be: Income / Investment
So the rate of return of:
- The first: $200 / $500 = 0.4 = 40%
- The second $150 / $500 = 0,3 = 30%
- The third $75 / $500 = 0.15 = 15%
- The fourth $50 / $500 = 0.1 = 10%
Only three rug cleaners have the rate of return greater than the interest rate so the store manager must decide to buy 3
