Answer:
$692,000
Explanation:
The computation of cost of renovating is shown below:-
Cost of renovating = Salary dropped + Owned money + Borrow money + Total interest
= $50,000 + $200,000 + $400,000 + ($700,000 × 6%)
= $50,000 + $200,000 + $400,000 + $42,000
= $692,000
Therefore for computing the cost of renovating we simply applied the above formula.
Answer:
C. Private companies can go public by choosing to sell stock to attract permanent financing through equity ownership of the company.
Explanation:
Private companies could go to the general public by selecting to sale the stocks in order to attract permanent financing via equity ownership of the company because they can sale the shares easily on the primary market in order to increased the finance also it will be help for raising the firm for the long period as the equity financing is considered for the long term financing
Hence, the option c is correct
Answer:
Bourne Inc.
Journal entries
Date Account Name Debit Credit
1-Dec Supplies $2,000
Accounts Payable $2,000
1-Dec Cash $6,000
Deferred Revenue $6,000
1-Dec Land $40,000
Notes Payable $40,000
15-Dec Accounts Payable $2,000
Cash $2,000
Adjusting entries
Date Account Name Debit Credit
31-Dec Supplies expense $1,900
($700 + $2,000 - $800)
Supplies $1,900
31-Dec Deferred Revenue $1,000
($6,000/6)
Service Revenue $1,000
31-Dec Interest expense $400
($40,000*12%* 1/12)
Interest Payable $400
Answer:
a. promptly notify ABC of the intent to cure.
Explanation:
After making a mistake, the first thing you need to do is to communicate with the buyers and try to make amends. You can explain the reason for the mistake and hope that the buyer will be understanding enough to allow you to fix the mistake. This might minimize your lost because of this mistake.
Keep in mind that at this point, the buyer have the full right to cancel the order and abandon his part of the contract.
If the buyer decided to do that, Big Board Games need to accept that decision professionally and prevent similar mistakes from occurring in the future.
Answer:
A title search is done to insure that there are no leans are owed on the property. Its to insure that the property is clean of any debt.