Answer:
Debit Cash $20,000
Credit M. Alice capital $20,000
Explanation:
We recognize the admission of new partner by debiting the cash that the partnership received in the amount of $20,000 and then record the interest of the new partner by crediting her capital, M. Alice, capital $20,000. Basically, the old partners will agree as to what amount of interest that the new partner will be credited to the partnership. But in this scenario, the problem is silent as to the agreement of interest that M. Alice will be credited, in effect, the books will recognize M. Alice' interest equal to the cash she invested to the partnership.
Answer:
1.) Business cycle/ True
2.) True
3.) The unemployment rate declined
Total real income increase
Explanation:
Business cycle can be explained as the rise and fall in production output of goods and services in an economy. Business cycle are generally measured using the rise and fall in the gross domestic product(GDP), either nominal or adjusted for inflation. Business cycle is closely related to the economic cycle and trade cycle.
Every nation's economy fluctuates between periods of expansion and contraction. These changes are caused by levels of employment, productivity, and the total demand for and supply of the nation's goods and services. In the short-run, these changes lead to periods of expansion and recession. But in the long-run, economic growth can occur, allowing a nation to increase its potential level of output over time.
In 1950, during the experience in increase in real GDP, U.S had about 8.7% increase in growth, a declined rate of unemployment to about 4.3% with the inflation rate of 5.9% , this era was considered to be expansion and korean war.
Answer:
$150,000 (land (400,000) - current BP (250,000)
Explanation:
Hope this helps
Answer:
D.
Explanation:
D. All of the above.
A certified volunteer preparer should;
Make sure all questions on Form 13614-C are answered
Change "Unsure" answers to "Yes" or "No" based on a conversation with the taxpayer
Verify the return is within your certification level
before starting the tax return.
