1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
horsena [70]
3 years ago
6

Lew owns five activities, and he elects not to group them together as a single activity under the "appropriate economic unit" st

andard. During the year, he participates for 120 hours in Activity A, 150 hours in Activity B, 140 hours in Activity C, 110 hours in Activity D, and 100 hours in Activity E. Which of the following statements is correct?a. Activities A, B, C, D, and E are all significant participation activities.b. Lew is a material participant in Activities A, B, C, and D only.c. Lew is a material participant in Activities A, B, C, D, and E.d. None of the above.
Business
1 answer:
lys-0071 [83]3 years ago
6 0

Answer:

b. Lew is a material participant in Activities A, B, C and D only.

Explanation:

The correct answer is b. All the activities has material participation except for activity E. The activity is considered significant of the participation by an individual is more than 100 hours. here Lew has 5 activities A, B, C, D and E. All the activities comprise Lew's participation for more than 100 hours but only activity E has participation less than 100 hours. The total of activities A, B, C and D is 530 (120 + 150 + 140 + 110).

You might be interested in
In this course, you learned the way people work is changing. Describe three alternative types of employment that have become pop
UkoKoshka [18]

Answer:

It would be types of work that are different than the traditional full-time, commute to the office, 9-5, Monday-Friday job.

Explanation:

7 0
3 years ago
The tools, skills, organization, and knowledge used to extract energy from nature are the
DENIUS [597]
What kind of energy like solar panels and windmills.
6 0
3 years ago
Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $7,400 cash and
adelina 88 [10]

Answer:

Pose-for-Pics

1. T-accounts:

Cash

Date     Account Title               Debit     Credit

Aug. 1   Common stock       $7,400

Aug. 2  Prepaid insurance                   $3,000

Aug. 5  Office supplies                             970

Aug. 20 Photography Fees   4,231

Aug. 31 Utilities                                         765

Aug. 31 Balance                                  $6,896

Common Stock

Date     Account Title        Debit     Credit

Aug. 1   Cash                                 $7,400

Aug. 1   Photography equipment 34,400

Aug. 31 Balance             $41,800

Photography Equipment

Date     Account Title        Debit     Credit

Aug. 1   Common stock    $34,400

Prepaid Insurance

Date     Account Title        Debit     Credit

Aug. 1   Cash                   $3,000

Office Supplies

Date     Account Title        Debit     Credit

Aug. 1   Cash                    $970

Photography Fees

Date      Account Title        Debit     Credit

Aug. 20 Cash                                 $4,231

Utilities Expense

Date     Account Title        Debit     Credit

Aug. 31 Cash                    $765

2. Trial Balance

As of August 31

Account Title          Debit     Credit

Cash                     $6,896

Common stock                   $41,800

Equipment           34,400

Prepaid insurance 3,000

Office supplies         970

Photography fees                  4,231

Utilities expense      765

Totals                $46,031   $46,031

           

Explanation:

Before transactions are posted to the T-accounts (General Ledger) they are recorded in the General Journal.  The T-accounts summarize the transactions into various ledger accounts.  Periodically, the accounts are balanced and a trial balance is extracted to check if the posting is error-free.

6 0
3 years ago
The following information is from Amos Company for the year ended December 31, 2019.
Juliette [100K]

Answer:

Explanation:

The preparation of the statement of retained earnings for Amos Company is shown below:

Retained earnings at December 31, 2018 (before discovery of error) $858,000

Less: Depreciation expense two years ago -$45,600

Add: net income $209,000

Less: Cash dividends declared and paid during the year -$11,000

Retained earnings at December 31, 2019             $1,010,400

3 0
3 years ago
Suppose that the market for athletic shoes is initially in equilibrium at point A. Further suppose the demand for athletic shoes
elixir [45]

Answer: Correct. When there is an increase in supply and an increase in demand, the new equilibrium quantity increases but whether the equilibrium price increases or decreases is unknown.

Explanation:

When the demand for the shoes increased, it had the effect of shifting the demand curve to the right. At the same time, with six more firms coming into the market, the supply increased as well which had the effect of shifting the supply curve right as well.

The new equilibrium as a result of these movements will see the quantity increase. However, due to the shift of both the supply and the demand curve in the same direction, it is uncertain if the price will change or not.

The general rule is that if the rise in supply is more than rise in demand then the price will decrease. If they rise by the same amount then price will remain the same. It shows therefore that if both supply and demand rise at the same time, the effect on equilibrium price is unknown.

3 0
3 years ago
Other questions:
  • You borrow $2,500. you are to pay back the loan in 36 monthly payments of $79.50. what true annual interest are you paying to th
    14·2 answers
  • An improvement to a local restaurant does not comply with the zoning ordinances because it was constructed prior to the adoption
    5·1 answer
  • Harry recently purchased a new store-brand laundry detergent and was impressed by the product. He has decided that he is going t
    6·1 answer
  • Derek, a manager at an insurance firm, instructs all subordinates to fill in a daily log of their day's work. However, he finds
    12·1 answer
  • In the multiplex industry, Vibrant Movies Inc. is an upscale multiplex that focuses on superior customer experience. The firm ch
    5·2 answers
  • Trinity College sold season tickets for the 2019 football season for $400,000. A total of 8 games will be played during Septembe
    8·2 answers
  • Crawford Corporation incurred the following transactions.
    6·1 answer
  • Please help!! My 9th time posting this please actually help me!
    5·1 answer
  • To create and capture customer value, companies must engage the first step of the marketing process, which is __________.
    5·1 answer
  • Tight monetary policy theory dictates that when the economy is faced with inflation, the government should:______
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!