Answer:
$833
Explanation:
As per accrual basis of accounting, an income is recognized when it is earned and not when cash is received for it.
In the given case, customer purchased a service for 3 months.
The position as on 31st Dec is that only one third i.e 1 month of services out of 3 months has been provided and 2 months of services is due which is yet to be provided against the collective cash received.
Hence, the spa should recognize 2500/3 i.e <u>$833 </u>in revenue on it's December 31st, 2022 financial statements.
Answer:
Option B:ABC Equity Income Fund
Explanation:
Mutual fund
This iss simply a form of an investment that comes or raises from the hands of investors, pools the money, which is directly invested on stocks, bonds, and other investments. It is said that under mutual funds, investor involved do owns a share of the fund proportionate to his/her investment but do not actually directly own securities. It pools money from investors with similar financial goals
It therefore necessary to achieve both current income and growth of income best suits the objectives and investment profile of the client. The capital appreciation and biotechnology funds not only fail to provide income; they are too risky for this retired person.
Advantages of Mutual funds
-diversification
-professional management, managers have access to high quality information
Advantage of mutual funds
1. Minimal transaction costs includes:
2. B/C mutual funds trade in high volume, they can negotiate lower transaction costs.
Answer:
Those who have historically been discriminated against.
Explanation:
Affirmative action seeks to make up for past inequities by providing more opportunities to those who were passed over before.
Answer:
$300,000
Explanation:
Calculation to determine How much current taxable income must Lincoln report as a result of its ownership of the CFC
Using this formula
Taxable income=Subpart F income * Ownership percentage
Let plug in the formula
Taxable income=$600,000*50%
Taxable income=$300,000
Therefore The amount of current taxable income that Lincoln must report as a result of its ownership of the CFC is $300,000
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