Answer:
The cash a/c is debited as it is an asset for the business and the capital a/c is credited as it is a liability for the business according to the business entity concept.
The answer is C. Renters' insurance is an excellent idea for tenants.
But the decision to purchase is up to the renters. There are many
options for coverage levels and companies available. The landlord should
have property insurance, but the renter should also have their own
insurance to cover their belongings.
Answer:
529 Plan
Explanation:
A 529 plan is a tax-advantaged savings plan designed to encourage saving for future education costs.
Answer:
$88,920
Explanation:
capitalized interest = weighted average accumulated expenditure for the year x interest rate of the loan = $889,200 x 10% = $88,920
Capitalized interest can be added to the basis of the new building that is being constructed. This way, the building's depreciable value will increase.