Ur at a 50:50 chance of getting right. Just guess :p
Answer:
The importer accepts this price, so his bank will <u>debit</u> the importer's account in the amount of <u>$500000</u>
Explanation:
Debiting an account removes money from the account. Crediting an account adds money to the account.
The bank will therefore <em>debit</em> his account because the money will be taken out and paid to the exporter.
The amount that the importer pays in dollars can easily be calculate as:
€512,100 / €1.0242 = $500000
Answer:
$175,000
Explanation:
The computation of the amount recorded as a compensation expense is shown below:
= Number of shares of restricted stock issued × fair value per share + Additional number of shares of restricted stock issued × fair value per share
= 10,000 shares × $20 + 20,000 shares × $25
= $200,000 + $500,000
= $700,000
This $700,000 represents the four year period but we have to find out for one year so it would be
= $700,000 ÷ 4
= $175,000
We simply multiplied the number of shares with the fair value per share so that the compensation expense could come
Answer:
a. $24,000
b. $9,000
Explanation:
a. The amount of income or loss from the partnership is limited to the share of the loss rather than its partnership interest
In the given case, the partnership interest is $45,000 and the share of his loss is $24,000
So, $24,000 is reported in his individual income tax return
b. The computation of the Wilson's basis in his partnership interest is shown below:
= Basis in his partnership interest - share of the loss - cash distribution received from the partnership
= $45,000 - $24,000 - $12,000
= $9,000
