<span>If these are the missing choices:
</span>A : the Securities and Exchange Commission, income principle
<span>B : GAAP, revenue recognition principle
C : GAAP, expense recognition principle
D : the IRS, tax principle </span><span>
My answer is: </span><span>B : GAAP, revenue recognition principle
</span><span>
The cash-basis is not in accordance with GAAP, and mahogany is in violation of the REVENUE RECOGNITION PRINCIPLE.
GAAP refers to Generally Accepted Accounting Principle.
It is stated that income must be recognized when it is earned not when cash is received. Because the company is using cash-basis, they will only report income earned on July 12 when they received the money not when they earned it which is before their fiscal year ending June 30.
They should recognized receivables from customers before closing the books for the fiscal year. </span>
Answer:
Carryover basis
In a Type A merger, the basis of the assets and liabilities carries over to the surviving entity.
Explanation:
It would most likely it would be false
Answer:
after tax yield on corporate bonds = 6.3 %
Explanation:
given data
federal plus state tax bracket = 30%
corporate bonds yields = 9%
solution
we get here yield that must municipals offer for the investor is express as
after tax yield on corporate bonds = corporate bonds yields × ( 1 - federal plus state tax bracket ) ......................1
put here value and we will get
after tax yield on corporate bonds = 9% × ( 1 - 30% )
after tax yield on corporate bonds = 0.09 × ( 1 - 0.30 )
after tax yield on corporate bonds = 0.063
after tax yield on corporate bonds = 6.3 %
Answer:
Explanation:
$120= the amount to pay for the shoe
$20 paid for the month
Balance to pay = $100
Then 3% interest rate on credit card = 3% of $100=$3
Therefore amount to pay = $3+$100=$103
