Answer:
b. Credit to Fair value adjustment for $5,000
Explanation:
Particulars Amount
Beginning balance of fair value adjustment $20,000
Less: Unrealized gain on Dec 31, year 3 <u>$15,000</u> ($515,000-$500,000)
Credit to Fair value adjustment <u>$5,000</u>
So, Credit to Fair value adjustment for $5,000 will be included in the related journal entry dated December 31, Year 3.
The freshly developed lot currently has a $177,500 appraised value. as an illustration: plottage
Plottage is the increase in value obtained by joining two or more neighboring pieces of land into one bigger tract. Assemblage describes the procedure of bringing the parcels together. In most cases, the total value of a parcel will be more than the sum of its smaller parts.
What does plottage increment mean?
The value added by fusing the lots is referred to as plottage increment. As an illustration, Steve is the owner of two adjacent plots. It costs $40,000 for each one. The overall valuation has increased by $10,000 and is now $90,000 when consolidated into a single property.
To know more about Plottage
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Answer: Option C
Explanation: In simple words, critical dilemma refers to the confusions and problems that may arise and are pretty hard to solve.
While implementing fiscal policies in an economy the authorities must have proper information however the information takes time and cost to get collected and processed.
This situation is called information lag and is a critical dilemma as the individuals in authority have to decide whether to go for information processing and collecting or not.
<span>You have 20 days to file a motion to request a hearing for a violation of the TABC. If the motion is denied, the permitee then has 30 days to file an appeal. The District Court then has 10 days to set the date for the hearing for the appeal.</span>
Answer:
D. $ 10,300
Choice D is correct: Net income = $ 10,300
Explanation:
Cash Received = $ 16000
Less Rent Paid= ( $ 2000)
Add income = $ 3000
Less Salaries for the month of March = ($ 6200)
Less utilities paid ($ <u>500)</u>
<u>Net income=</u> $ 10,300
Treatments.
Net income is found by deducting expenses from revenues earned
$ 100,000 is the retained earnings so it is not accounted for net income.
Equipment is an asset so it is not accounted for net income.
Cash received is the revenue so it is accounted.
Rent is an expense account so it is subtracted.
Income for service $ 3000 provided is also taken into account on matching principle basis.
Advance received will be adjusted when the services will be rendered on matching principle.
