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Ratling [72]
3 years ago
6

Rainey Enterprises loaned $40,000 to Small Co. on June 1, Year 1, for one year at 6 percent interest. Required Show the effects

of the following transactions in a horizontal statements. In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). (Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells in the "Statement of Cash Flows" column may require an input - leave cells blank if there is no corresponding input needed.) (1) The loan to Small Co. (2) The adjustment at December 31, Year 1. (3) The adjustment and collection of the note on June 1, Year 2.

Business
1 answer:
MariettaO [177]3 years ago
7 0

<u>Explanation:</u>

Cash flow is a statement which shows the amount of cash inflow and outflow of the company. With the help of the cash flow statement the company can determine its efficiency in managing the debt and credit in the company.

The operations of the company can be found with the CFS. The investors to the company can understand the position of the company with the cash flow statements. Financial strength of the company can be determined with cash flow statement.

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Meredith is a passive 30% member of the MNO LLC. She is not a managing member and she does not participate in any activities of
goldfiish [28.3K]

Answer

b.$0 SE tax; $90,000 NII tax.

The answer and procedures of the exercise are attached in the following image.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

7 0
3 years ago
Mariah Dover cashed her $100 traveler's check in Riga, the capital of Latvia. At the current _____ rate, she received $61.82 in
zhannawk [14.2K]

Answer:

current floating exchange rate

Explanation:

Exchange rate is the rate at which one currency will be exchanged with another. For example, 1 United States Dollar is equivalent to 4.24 Poland Zloty as of March 2020.

There are two common types of exchange rates:

1. Floating exchange rate: This is set by the FOREX market, and is based on the current supply and demand of currencies. When demand for a currency is high, its value increases and vice versa.

2. Fixed exchange rate: A fixed or pegged exchange rate is whereby a government entirely determines the rate and value of the currency.

Generally, a floating exchange rate system is used in the global market. This does not mean countries allow their currencies to fluctuate endlessly. The central bank of a country and it's government does intervene and manipulate the currency to make it favorable for them during international trade but it is done in a more indirect manner as opposed to a fixed exchange rate system.

4 0
3 years ago
You were able to purchase two tickets to an upcoming concert for $100 apiece when the concert was first announced three months a
dusya [7]

Answer: $450

Explanation:

Total tickets purchased = 2

The cost of one ticket three months ago = $100

Current price of one ticket = $225

Total cost of two tickets = $225 × 2

                                        = $450

The opportunity cost is the benefit that is foregone by selecting some other alternative. So, here two options are available that either attend the concert or resell the ticket at $450. Therefore, the opportunity cost of attending the concert is $450.

4 0
3 years ago
Consider the following invoice:
hichkok12 [17]

Answer:

maybe bills and rent

Explanation:

4 0
2 years ago
which of the following is not a requirement of the unlimited marital deduction? a.in order to claim a marital deduction on the 7
tamaranim1 [39]

The gross value of qualifying property left to the surviving spouse is included in the marital deduction. This is not a requirement of the unlimited marital deduction.

Hence, option D is the correct answer.

Unlimited marital deduction is a clause that enables a person to give their spouse limitless property at any time. This clause belongs to the federal estate of the United States. No limitation on the transfer of property is imposed.

There is no requirement for the gross value of the property that is kept for the surviving spouse under the unlimited marital deduction.

Option a is wrong because a husband and wife must be married in order to qualify for the unlimited marital deduction, this choice is incorrect.

Option b is improper since the property should be passed to the spouse through real estate under unlimited marital deductions.

Option c is erroneous because, in order to qualify for the unlimited marital deduction, the surviving spouse must be a citizen of the United States.

To know more about unlimited marital deduction: brainly.com/question/17983054

#SPJ4

5 0
1 year ago
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