Answer:
This is <em>false. </em>
Explanation:
You only have so much room on a resume, and refrences can be a waste of space. Typically, refrences are given upon request.
Hope this helped.
Answer:
Part - (a)
Since A constructively holds stock through her son and a prohibited interest within the 10 years of divestment, she will not receive a favorable treatment.
Part - (b)
The sale may qualify for redemption if A decides to become a creditor within a 10 years period. Creditors do not hold prohibited interest in corporations, typically because they hold no voting rights.
Part - (c)
The act of replacing, or office held by a family member, does not constitute a prohibited interest. Therefore: the sale should qualify.
Part - (d)
Accepting the stocks as gift would trigger a prohibited interest. The size of the gift and her son's shares and will nullify the 10 year rule.
Answer:
Explanation:
The adjusting journal entry is shown below:
Interest receivable A/c Dr $200
To Interest revenue A/c $200
(Being the interest earned is recorded)
Since the interest would not be received but it is earned so we debited the interest receivable account and credited the interest revenue account.
The other accounts which are given in the brackets are wrong.
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