Answer: Debit Accounts receivable for $600.
Explanation:
The customer had not been billed so that means that they still owe the company. This would make them an accounts receivable so the adjusting entry will have to debit the Accounts Receivable account for $600 to show that it is increasing.
This amount will be credited to the Accrued revenue account to show that the cash has not yet been received.
That's a statement.
If its T/F, That is true <span />
Answer:
d)$1,100 long-term capital gain
Explanation:
Given the information from the question. We know that a long-term capital gain or loss comes from investment that was possessed for a year or longer. However in this case, since the necklace was a gift .Therefore, there were no capital gain in 2014. In 2016, Lindsey sold the necklace for $1200. Therefore, the capital gain on the necklace will calculated as $1200- $100 = $1100. Where the $100 is a cost purchase for the previous owner. Therefore, long-term capital gain is $1100 which is option D.
Answer:
He should roll the funds over into a new IRA in the spouse's name
Explanation:
Since the son is expects to retire in 22 years, in which at that time he will be in need of the funds to pay for his or his Family annual living expenses the best advice I would give the son is for him to roll all the funds over into a new IRA in the name of spouse's because the IRA Account which is fully known as INDIVIDUAL RETIREMENT ACCOUNT is an individual retirement plan that can help to provides all tax the advantages that an individual needs for their retirement savings.
To prevent monopolies. The law was also created to make competition in the market place.
