Answer:
Yes, there is no legal limit on the number of escrow accounts a broker can have.
Explanation:
A broker transaction facilitates sale between a buyer and a seller.
The broker states a price for the buyer that is an addition of the seller's price and his commission.
An escrow account is one that recieves the buyer's money and notifies seller to transfer goods to the buyer. Once reciept of the goods has been confirmed by the buyer, seller's money is released to him and broker commission paid to him.
There is no legal limit to the number of escrow accounts a broker can have. So Ron can open seperate escrow accounts for each transaction he is doing.
Answer:
-$40,000
Explanation:
Data provided as the question
FMV = $90,000
Assumed Liability = $80,000
Stock basis = $50,000
The computation of recognize is shown below:-
= FMV of property - Assumed Liability - Stock basis
= $90,000 - $80,000 - $50,000
Recognize Loss = -$40,000
Therefore for computing the recognize loss we simply deduct the assumed liability and stock basis from FMV of property.
Answer:
Which inventory method reflects the most recent costs of inventory on the balance sheet?
LIFO
What implications might this have that would be relevant for users of the financial statements to know?
This will mean that the profitability ratios will be smaller under LIFO .
The profitability ratios include profit margin, return on assets, and return on stockholders' equity.
Explanation:
LIFO, the most recent costs of products purchased (or manufactured) are the first costs to be removed from inventory and matched with the sales revenues reported on the income statement. This means that the oldest costs remain in inventory.
<span>Who is better off: a person using credit cards or a person refraining from any loans? A person using credit cards is better off </span>from a person refraining from any loans. A person using credit can often purchase more and have more flexibility with their money over someone who only uses cash. There are items and services that do not take cash as a form of payment, so without a credit card the person can not make the purchase.
