Answer:
Net income for the year = $257,000
Explanation:
Retained earnings for the year= Net income - dividends paid.
Since no dividends were paid, retained earnings for the year = net income for the year. At the end of each accounting period, retained earnings are reported on the balance sheet, and the retained profits for the year are added to the beginning balance of retained earnings, to give a cumulative ending balance of $2,499,000.
therefore retained earnings for the year = ending retained earnings balance - beginning retained earnings balance = $2,499,000.-$2,242,000= $257,000.
Net income for the year is thus = $257,000 since no dividends were paid.
Answer:
Short-selling long-term bonds and taking long position on short-term assets
Explanation:
When the yield curve ascends, the long-term bond's price will go down. Hence, do short-sell the long-term bonds. On the other hand, short-term asset's price will be depreciated because Fed tightens credit and raise short-term rate, which is the chance to purchase and make profits from capital gains.
Answer:
For this situation agent isn't right in any way. The back up plan should acknowledged the essential duty to pay for all the harms that are brought about by the Dmitri. As this isn't an instance of misrepresentation as the safety net provider would consent to pay on the behalf of Dmitri on the off chance that he failed to pay.
Answer:
Shally will not having any amount of bad debt deduction for the present year.
Explanation:
In the present year, Shally will not having any amount of bad debt deduction because she has a gain or income of $5,000. As, last year she has account receivable of $60,000 but this year she settled the account by receiving the $65,000 amount. So, she has received more amount than the basis in the receivable. Therefore, she will not have any bad debt deduction this year.
