Answer:
C. Nicholas is not required to recognize gross income, but must reduce his cost basis in the land to $130,000
Explanation:
Answer:
$2,700
Explanation:
Calculation for what should this professor be willing to pay in rent per month
First step is to calculate the Transportation cost per week
Transportation cost = ($25*4 hrs)* 3 per week
Transportation cost =$100*3 per week
Transportation cost= 300 a week
Now let calculate the rent per month
Rent per month= $1500 + ($300*4)
Rent per month=$1,500+$1,200
Rent per month= $2,700
Therefore what should this professor be willing to pay in rent per month to live near campus if her hourly wage rate is $25 will be $2,700
Answer:
The correct answer is debit accounts receivable, credit cash.
Explanation:
Note debit is a receipt that a company sends to its client, in which it is notified that it has charged or debited a certain sum or value in its account, for the concept indicated in the same note. This document increases the value of the debt or account balance, whether due to an error in billing, interest for late payment, or any other circumstance that means an increase in the balance of an account.
Answer:
Correct one is Option D.
<u>$6,500</u>
Explanation:
Fair value of its 20% interest in the receivables 8000
Less: Factoring fee=50000*3%
=1500
Amount receivable from factor= 8000-1500=6500
Answer:
$67,000
Explanation:
The total revenue will be income from the 300 rooms and that from 100 rooms
=(300 x $140) + ($100 x 250)
=$42,000 +$25,000
=$67,000
