Answer: $369,500
Explanation:
The Cost concept of accounting calls for the recording of Assets at their cost.
Clementine Repair services offered to buy the land at $350,500 when it was priced at $388,500.
The seller countered with $369,500 and Clementine accepted this.
This means that Clementine bought the land for $369,500 which makes it the cost price.
They should therefore record it at $369,500.
A) Opportunity cost
because an opportunity cost is for example you have to pick from a xbox one or a ps4. You saw that the ps4 was more scarce for you but you had to give up the xbox one to obtain the ps4. Nothing is free in life!!! You sacrificed the xbox one for the ps4
Answer:
2nd place
Explanation:
I feel like this is the right answer, I'm just guessing.
*A limited partner's signature on the subscription agreement grants the general partner power of attorney to conduct the partnership's affairs. The subscription agreement for a limited partnership is deemed accepted when the general partner signs the subscription agreement.
<h3>What is a subscription agreement for a limited partnership?</h3>
The subscription agreement, when executed by a limited partner, gives the general partner the authority to manage the business of the partnership. When the general partner signs the subscription agreement, it is considered approved for a limited partnership.
<h3>What does the general partner's signature on the subscription agreement mean?</h3>
The limited partners are given authority to manage the partnership's affairs by the general partner's signature. The subscription agreement, when executed by a limited partner, gives the general partner the authority to manage the business of the partnership.
<h3>What is a recourse note in a limited partnership?</h3>
Recourse notes obligate the limited partner to make payments regardless of what transpires. He is legally responsible for the $40,000, making his tax base and possible maximum loss $50,000.
A) manage partnership assets on behalf of the partnership as an agent. B) offer the limited partnership real estate.
Learn more about Limited partnership:
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Answer: a.19.59% b.15.11%.
Explanation:
Average tax rate is given as the total tax paid divided by total taxable income which is expressed as a percentage and must be less than the marginal tax rate.
Chandler is single and reports
taxable income of $132,200.
Tax liability: 25,903
Marginal rate: 24 %
Average rate: 17.94 x % = wrong
Average rate = total liable tax/ total income= 25, 903/ 132,200=0.195937 rounded to 0.1959
0.1959 x 100 = 19.59%.correct
b. Lazare, a head of household, records
taxable income of $80,600.
Tax liability: 12,176
Marginal rate: 22 %
Average rate: 12.30 X %= wrong
Average rate = total liable tax/ total income= 12,176/ 80,600= .0.15106= 0.1511
0.1511 x 100 = 15.11%.correct.
