Answer:
A
Explanation:
You can think about this like how you put money into a bank and let the interest pile up over time.
Answer:
See explanation section.
Explanation:
The correct journal to record this transaction is -
Cash Debit $40,000
Common stock Credit $40,000
Note: As Callie Taylor invests the amount in exchange for common stock, An asset (cash) will be increased, and equity (common stock) will be increased. An increase in asset means debit, while an increase in equity means credit.
Answer:
The correct answer is Any one of the five criteria specified by GAAP regarding accounting for leases.
Explanation:
According to the information in FAS 13, criteria for accounting for financial and operating leases must be followed, such that the asset must be recognized all the risks according to the property, considering the times of the lease and in other cases the future purchase options the which must be reasonably recorded. If these criteria are not met it should be classified as an operating lease.
Answer:
Option A is correct.
deficit; negative
Explanation:
In a small open economy, starting from a position of balanced trade, if the government increases domestic government purchases, this produces a tendency toward a trade <u>deficit </u>and <u>negaive</u> net capital outflow.
This corresponds to the concept of twin deficits where a budget deficit that results from increased government purchases, also results in current account deficit. Since trade deficit implies negative NX there is a negative NCO.
Answer:
$3,875
Explanation:
Data given in the question
Selling value of the home = $155,000
Commission rate = 5%
Share basis = equally
So, by considering the above information, the Muller received amount is
= Selling value of the home × commission rate ÷ share basis
= $155,000 × 5% ÷ 2
= $7,750 ÷ 2
= $3,875
By considering the all the information given in the question we can easily find out the received amount by the Muller
