Answer:
Journal Entry
Explanation:
Cash Dr, $63,360
Loss on sale receivable Dr, $6,640
Receivable from factor Dr, $6,200
To resource liability $4,200
To Accounts receivable $72,000
(Being transfer on the books of Mountain High is recorded)
Working Note :-
2% × $72,000 = $1,440
Cash = ($72,000 × 0.90) - ($72,000 × 0.02)
= $64,800 - $1,440
= $63,360
Loss on sale receivable = ($4,200 + $72,000) - ($63,360 + $6,200)
= $76,200 - $69,560
= $6,640
Answer:
$213
Explanation:
For computing the owed amount, first we have to compute the daily rate per day which is shown below:
= HOA fee ÷ number of days in a month
= $355 ÷ 30 days
= 11.83 per day
We know that the number of days in a month is 30 days and the townhome is sold on March 12, so the remaining days would be 18 days ( 30 days - 12 days of march month)
Now the owed amount would be
= Remaining days × per day rate
= 18 days × 11.83
= $213
Levels of cyclical unemployment will rise.
Unanswered levels of frictional unemployment may rise as people looking for jobs will find it harder to get new jobs.
Unanswered levels of structural unemployment are likely to rise as businesses look for specific types of workers.
Answer: Options A, B and G.
<u>Explanation:</u>
In Economics, a recession is a business cycle constriction when there is a general decrease in monetary action. Downturns by and large happen when there is a far reaching drop in spending.
A recession happens when there are at least two back to back quarters of negative monetary development, which means GDP development contracts during a downturn. As organizations battle with less money and income, they first attempt to lessen their expenses by bringing compensation or stopping down to procure new specialists, which can stop business development.
Answer:
Bob’s realized gain on the sale is $55,000,
Explanation:
The first step is to find the Book Value of the Rental Property Sold.
<u>Book Value of the Rental Property Sold.</u>
Cost $260,000
Less Accumulated Depreciation ($37,000)
Book Value $223,000
Gain or Loss on Sale = Selling Price - Cost of Sale (Book Value) - Other Selling Expenses
= $290,000 - $223,000 - $12,000
= $55,000
<u>Conclusion :</u>
Bob’s realized gain on the sale is $55,000,
