Answer:
($21,000) Unrealized loss
Explanation:
An unrealized loss can be defined as the decreased in cost of an asset which are yet to be sold out due to the fact that one might continue to hold onto such asset after it has declined in price with the expectation that it will gain in value.
$429,000 - $408,000 ($21,000) Unrealized loss
Therefore the amount that should be reported as a charge against income in Sandhill's 2021 income statement if 2021 is Sandhill's first year of operation is ($21,000) which is Unrealized loss because the fair value of the asset realized is lesser than the original cost of the asset.
300,000/(2-1.40) =500,000
The answer to your question is 500,000
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Answer:
b) False
Explanation:
The price reduction will stimulate demand for Rajiv's Fire Engines, in the short run, before competitors catch up or even overtake the firm with price reduction strategies of their own. This will in turn drive sales and the production quantity to increase marginally in the short-run. However, in the long-run, because the market is competitive, Rajiv Company will not totally benefit from the price reduction as the price war intensifies among the competitors.
Answer:
= - $1050
Explanation:
Current Account:
Balance of Trade negative -$600
Balance of Services = +$50
Net Income on Investments negative −$400
Net Transfers -$100
current account (-$600+$50−$400-$100) - $1050
Exports of Goods +$9,900
Imports of Goods - $10,500
Exports of Services +$350
Imports of Services -$300
Income Received on Investments +3,300
Answer: $0
Explanation: As stated in the internal Revenue Code(IRC) as regards the limitations on losses of individuals. Summarily, Losses can only be deducted from tax returns if:
1. Loss is incurred in a trade or business.
2. Loss arising from a profit oriented transaction.
3. Loss arising from theft, casualty or Natural disaster.
However, Loss in the question above can be attributed to abandonment arising from the couple's personal decision which is not covered jn the reasons for loss deduction from tax income stated in the IRC.