Option D
Under the First Amendment, Rita is guaranteed the freedoms of religion and speech.
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Explanation:</u></h3>
The First Amendment to the US Constitution is the section of the Bill of Rights and defends center American civil rights. The First Amendment defends Americans’ rights to the freedom of speech, press, assembly. Ere the twentieth century, most free speech concerns associated prior prescription.
The Court has also acknowledged a list of protests to provisions shielding the freedom of speech. Speech associated with national security or state secrets may likewise not be defended. Particular kinds of speech are not shielded, such as vulgarity, fight words, valid threats, child obscenity
Answer: The total Asset is $531,225, The total owners Equity is $1,494,000
Explanation:
A balance sheet is a summary of debit and credit balances of asset and liabilities in a ledger. It is a financial statement prepared in order to determine the financial position of a business, in the event of acquisition of a subsidiary by a parent company, then a consolidated balance sheet will be prepared to unite the two entities. A consolidated balance sheet is a financial statement prepared to record the asset and liabilities of the two entities as one entity.in this case the aquisi
Consolidated Balance Sheet As At 1/1/××
$ $
Fixed Asset
PPE Asset (undervalued ) 81,000
Less : Depreciation. 5,400
----------
75,600
Goodwill. 162,000
----------------
Total Fixed Asset 237,600
Other Asset
Patent. 261,000
Amortization. 32,625
--------------
293,625
----------------
Total Asset. 531,225
Owners Equity
Common Stock 1,494,000
---------------------
Total owners Equity 1,494,000
Answer:
The answer is d. wholly owned subsidiary
Explanation:
A wholly owned subsidiary is a company whose entire stock is held by another company, called the parent company. In this case Fun Times will own 100% of Events & Adventures' common stock.
Answer:
Wei Company
Journal Entry:
Debit Allowance for Doubtful Accounts $7,800
Credit Accounts Receivable $7,800
To write-off accounts determined to be uncollectible.
Explanation:
a) Data and Calculations:
Allowance for Doubtful Accounts (Balance) = $35,000
Uncollectible accounts:
Oakley Co. $1,400
Brookes Co. $6,400
Total = $7,800
b) The amount of $7,800 considered to be uncollectible is written off against the Accounts Receivable. This reduces the Accounts Receivable while correspondingly increasing the Allowance for Doubtful Accounts.
Answer:
Sunset Corporation's taxable income is $3,000
Explanation:
Calculation of Sunset Corporation's taxable income is as worked below
Taxable Income = Operating Income - Operating Expenses + Capital Gains - Capital Losses
Taxable Income = $200,000 - $175,000 + $30,000 - $52,000
Taxable Income = $3,000. Hence, Sunset Corporation's taxable income is $3,000
Note that taxable income is the amount of income used to calculate how much tax an individual or a company owes or is going to pay the government in a particular tax year.
