Answer:
Total Assets $350,000
Expenses $250,000
Explanation:
The company (ABC) has spent on research and development costs of $250,000. These costs are associated on the assets which are currently under development and benefit of which would be derived in the near future. Therefore, in the accounting treatment these costs will be recorded as expense.
The patent is considered as an intangible asset. This is due to the fact that they do not have any physical substance and provides benefit in the long run for the company who owns them. Their treatment in which case would be same as any intangible asset. ABC should treat the purchasing of patents as asset.
Hence, research and development costs incurred for new horse transport is expenses at $250,000 and the purchasing of patents would be recorded as an asset at $350,000.
Answer:
Correct option is A.
<u>Interest on a loan for a 90-foot yacht (a qualified residence) with a kitchen, 3 baths and 5 bedrooms</u>
Explanation:
Assesses are permitted a conclusion for unmistakable intrigue paid or collected during the expense year. Sum and sort of derivation is reliant intentionally for which cash is obtained. Enthusiasm on credit for lease, business and eminence exercises is deducted for balanced gross pay. Enthusiasm on credit if there should be an occurrence of individual utilise like speculation intrigue, qualified home intrigue, contract intrigue prepayment punishments, intrigue identified with aloof action. Enthusiasm on credit used for buying resources producing charge excluded salary isn't deductible.
Following interest is not deductible as an itemised deduction:
1. Credit investigation fees
2. Service charges
3. Premium on convertible bonds
4. Interest paid to carry single premium life insurance
If Z best, inc. issued $1,000,000 of common stock for cash. by accident, z best recorded the transaction by increasing cash and decreasing stockholders' equity. as a result of this entry,
- Common stock is understated
- Stockholders' equity is understated
- The accounting equation is out of balance
<h3>
Common stock for cash</h3>
Since the company issued the amount of $`1,000,000 of common stock for cash.
The journal entry will be
Debit Cash $1,000,000
Credit Common stock $1,000,000
Hence, if the company recorded the transaction by increasing cash and decreasing stockholders' equity this means that Common stock is understated, Stockholders' equity is understated and the accounting equation is out of balance.
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The correct option is b) 1.5-4. The best estimate for personal distance in Western cultures is around 1.5 to 4 feet.
<h3>What is meant by personal distance?</h3>
The term personal distance is often used to describe the physical space distance between communicating parties in western cultures. For example, when people are talking in a group setting or in a one-on-one setting, the physical distance between them that is viewed as appropriate makes up for the personal distance range.
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Based on the amount earned and the monthly expenses, Eric should set aside <u>$16,200</u> for an emergency fund.
It is generally recommended that when settling cash aside for an emergency fund, the amount that one sets aside be 3 times their monthly expenses.
Eric's monthly expenses are $5,400 so the amount to be set aside should be:
= 5,400 x 3
= $16,200
In conclusion, Eric should set aside $16,200 for the emergency fund.
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