Answer:
This is very simple, they should start billing their clients right away.
You don't have to bill your clients for the full legal expenses, but they for sure need to start making some money.
It is very normal that new businesses don't get enough revenue to cover their operation expenses right away. Even for big corporations, like Amazon and FB, it may take years to reach the break even point.
When you open a business you have to keep some money as reserve to cover some expenses for at least a few months.
Answer:
It will be counted as investment in 2016 and negative investment in 2017.
Explanation:
National income refers to the total value of a country's final output of all new goods and services produced in one year. There are various ways of measuring national income, e.g. GDP, GNP, etc
Therefore, following national income accounting practices, the car would be counted as part of the investments and GDP of 2016, and negative investment in 2017, because that was the year in which it was produced.
Answer:
The solution of the given query is explained throughout the segment below.
Explanation:
The given values are:
Company issued amount,
= $6,500,000
Rate of interest,
= 6%
Time,
= 10 years
Now,
On bonds payable amortization, the discount will be:
= 
= 
= 
($)
Interest expenses will be:
= 
= 
= 
($)
Answer:
A
Explanation:
In the accounting process extracting a trial balance is the final step.
