Answer:
The correct answer is True.
Explanation:
The two areas are responsible for the physical management of any economic transaction of the entity, therefore effective control means the custody of said documents for proper internal management of financial information. Both checks and remittances are care transactions that must be properly supported.
Lower than for questioning a
Answer:
$185,000
Explanation:
According to the given situation, the computation of gain is shown below:-
Recognized gain = Amount realized—stock - Adjusted basis of property transferred
= $200,000 - $15,000
= $185,000
Therefore, for computing the recognized gain we simply applied the above formula.
Hence, the gain realized on the transaction is $185,000
Answer:
= $ 41,940
Explanation:
Purchased machine for $178,000 cash on January 2
And readies it for use the next day at a $2,840 cost
On January 3, it is installed costing $1,160
Total Acquisition Cost = $ 181,640
Salvage value $14,000
Useful Life = 6 years
Depreciation Straight Line Method= Cost - Salvage Value/ Useful Life
Depreciation Straight Line Method= $ 181,640 -$14,000/6
= $ 167,640/6= $ 27,940
After 5 years its Value would be = $ 181,640 -$ 27,940*5
= $ 181,640 - 139,700
= $ 41,940
It must be disposed off to get a value at least equal to $ 41,940 which is its value .
Answer:
November 6th is the last date to exercise the rights.
Explanation:
The shareholders have right to sell the rights to other shareholder, for which the shareholders need to exercise the rights before the right issue. If the shareholders doesn't makes any exercise of right issue before date then he is not entitled to rights anymore. The last date is the date on which the payment is made.