Please help me with this homework

Mahmoud wants to start a business making designer chairs. To do this he will need:

prisoha [69]

Mahmoud will be needing many things such as. A loan of money , Maybe a wed site to spread him company so more people can see it and materials to build chairs such as wood , springs , foam.

4 0

3 years ago

ABC Corporation has E & P of $240,000. It distributes land with a fair market value of $70,000 (adjusted basis of $25,000) t

stealth61 [152]

Answer: Paul has a taxable dividend of $15,000.

Explanation:

From the question, we are informed that ABC Corporation has E & P of $240,000 and distributes land with a fair market value of $70,000 (adjusted basis of $25,000) to its sole shareholder, Paul. We are further informed that the land is subject to a liability of $55,000.

The taxable dividend will be the difference between the fair market value of land and the liability on the land. This will be:

= $70,000 - $55,000

= $15,000

Therefore, Paul has a taxable dividend of $15,000.

5 0

3 years ago

Joe Donney operates a roller skating center. He has just received the monthly bank statement at August 31 from Citizens National

dlinn [17]

Answer:

Donney actually have $1,577 at August 31, 2014

Explanation:

Prepare a Bank reconciliation to determine the accuracy of the Cash Balance using the following steps

Step 1

Update the Cash Book (Bank Column) Balance

Cash Book (Bank Column)

Debit :

Balance as at August 31 $1,620

Rent collection $375

Total $1,995

Credit :

Service charge $9

Dishonored Checks $137

Printing Charge $20

Error : Understatement $252

Balance as per updated CB $1,577

Total $1,995

Step 2

Prepare a Bank Reconciliation Statement

Bank Reconciliation Statement as at August 31

Balance at Bank as per updated Cash Book $1,577

Add Unpresented Checks $756

Less Lodgements not yet credited ($1,695)

Balance as per Bank Statement $638

Conclusion :

Now that we have reconciled the Updated Cash Balance of $1,577 to the Bank Statement we can safely say Donney actually has $1,577 cash at August 31, 2014.

3 0

3 years ago

Kristoff Walker operates his own catering service. Summary financial data for February are presented in equation form as follows

wariber [46]

Answer:

- $17,600

Explanation:

The computation of the net decrease in cash during the month is shown below:

= $40,600 - $17,400 - $30,200 - $2,300 - $8,300

= - $17,600

After calculating the items which are presented in the column 1 represent the net decrease in cash for $17,600 amount.

The net decrease in cash represents an outflow of cash. In this, the chances of loss may be higher than the loss.

8 0

3 years ago

Read 2 more answers

You are involved in an Information Systems project. The project's scope has widened, but there is no change in cost, quality, an

LenKa [72]

Answer:

True

Explanation:

Project scope deals with the specific requirements or tasks necessary to complete the project. Scope is important to manage on any project, because if you can’t control the scope of the project, you’re not likely to deliver it on time. Also should the scope get widened it will result in time taken to complete the project.

Every project is faced with the triple constraint, which are the time, scope and cost.

Kindly see the attached for further clarity

3 0

3 years ago