Answer:
$25,000 will be an ordinary income(FMV)
Explanation:
Kate received an offer of unrestricted partnership capital interest for the expertise services. so, Kate recognizes it's an "ordinary income"which should be booked at the fair market value of the partnership interest so offered.
i.e $25,000 is ordinary income (FMV)
Answer:
B. Debit insurance expense for $13,500 and credit prepaid insurance for $13,500.
Explanation:
If 6 months past from the beginning of the contract then these past 6 months must be reflected as expenses in the balances.
$13,500 reflect the expenses of the past 6 months from July 1 to December 31, then the entry Debit insurance expense for $13,500 and credit prepaid insurance for $13,500 reflect the proper balances at the end of the year.
John's reaction is an example of the bystander effect.
It means that he will just continue staring at the accident because he is curious as to what happened and he wants to see how the event is resolved, however, he is not really willing to do anything to help the people involved - he will just assume someone else will do that.
Answer:
Free trade focuses on the reductions of barriers and policies of nations.
Fair trade seeks to bring favor to the right of the worker.
Explanation:
Answer:
$343
Explanation:
Andrea and Phillip's annual premium cost can be calculated using the cost per thousand formula:
cost per thousand = annual premium / thousands of coverage
- cost per thousand = $0.98
- thousands of coverage = $350,000 / $1,000 = 350
$0.98 = annual premium / 350
annual premium = $0.98 x 350 = $343