Answer:
True
Explanation:
Investment considerations have five basic things. They are:
1. Consistency: Without consistency, an investment cannot be successful.
2. Simplicity: Simple investment can make a better future.
3. The risk-return relationship: It will help to understand which investment is beneficial for the investor.
4. Investment objectives: Without setting objectives, an investment can not grow.
5. Diversification: Diversified investments reduce risk.
Answer:
Your friend, Caitlyn, does not think it is important to review her monthly credit card statement. Instead, she just sets up an automatic minimum payment on the 18th of each month. Convince Caitlyn that this is a bad idea.
Caitlyn is working on her own reasoning which is not economical enough, when you make credit card statement review important. it would streamline spending as well as enables one to know where and what every penny is used for
Explanation:
Answer:
<em>In compliance with IRS 351, gain / loss must be acknowledged when the property is sold to the cooperative in order to gain control after the sale.
</em>
Solution (A)
In order to be eligible as a non-taxable trade UIS 351, Ted is attempting to meet the control criteria of section 351, Peggy must join Ted in the transaction. When the specifications are not met, Ted will be recognized as a gain by $80000 on the transfer.
Solution (B)
The legislation provides that stock granted for property whose value is comparatively small is not treated as issued in return for property compared with the value of stock already owned.
Answer:
<h2>
Hennigan Rentals:</h2>
Hennigan is owed $175 from its customers on December 31.
Explanation:
Accounts Receivable
Date Description Debit Credit Balance
Dec. 8 Cash $75 ($75)
Dec. 20 Earned Rentals $750 $675
Dec. 31 Cash $500 $175
When a rental company accepts payment in advance of its service, it increases the cash balance and reduces the Accounts Receivable. In the same way, when cash is received for services already rendered and invoiced, the cash balance is increased and the Accounts Receivable reduced by the same amount.
Accounts Receivable represents the total amount owed to a company resulting from the provision of goods and services on credit. The balance forms part of the current assets in the company's balance sheet.
A journal entry for a sale on account debits account receivable and credits revenue account. When the customer pays on account, cash is debited while the accounts receivable is credited. At the end of the period, the account is balanced.
