Answer:
a) Removal of unwanted buildings
d) Brokerage commission
e) Survey fees and legal fees
f) Purchase price
Debit Accounts Receivable $5,000; credit Tile Sales $5,000
Answer:
Say's law in economics is the ability to purchase something depends on the ability to produce and thereby generate income.
Answer:
The money in the 401(k) account is not taxed until withdrawn.
Explanation:
A 401 (k) can be defined as a type of compensation (savings) plan that is being sponsored by a business firm or company (employer) to avail its employees the opportunity to contribute into. As a company-sponsored and defined-contribution retirement savings plan, it offers tax advantages to the employees because it reduces their income tax for the particular year while taxing their withdrawals.
A good reason to contribute to a 401 (k) retirement account is that, the money in the 401 (k) account is not taxed until withdrawn. Thus, the money contributed by an employee to a 401 (k) will maintain its tax-deferred status until he or she withdraws it.
For example, a 401 (k) would be the best retirement savings option for a 50-year old medical doctor whose employer offers a 5% contribution match.
Answer:
$119,159
Explanation:
The computation of the quick asset is shown below:
Quick assets = Cash + Marketable securities + Accounts receivable
= $18,105 + $36,753 + $64,301
= $119,159
Only these items i.e cash, marketable securities and the account receivable are shown in the quick assets
