Answer:
d. the Circular Flow Model
Explanation:
Based on the information provided within the question it can be said that this statement is an example of the Circular Flow Model. This model (like mentioned in the question) illustrates the flow of cash from different people or company's in different industries. Where one person/company pays another, which takes it in as income and uses that to pay another company for what they need and so on.
Answer:
$20,700 ordinary loss
Explanation:
Based on the information given if the first Operating assets generated a gain of the amount of $38,700 while the second assets generated a loss of the amount of $59,400 after been sold out which indicate or means that Hugo should recognize the amount of $20,700 ORDINARY LOSS which is calculated as :
Ordinary loss =-$59,400+$38,700
Ordinary loss =-$20,700
Therefore As a result of these sales, Hugo should recognize:$20,700 ORDINARY LOSS
Answer:
b. Disclosed and accued as a liability
Explanation:
Expropriation occurs when the government or an authority takes property from its owner to use it publicly.
Answer:
Total cash collection may= $362,000
Explanation:
Giving the following information:
Wallace Publishers Inc. collects 50% of its sales on account in the month of the sale and 50% in the month following the sale.
Sales on account:
April= $380,000
May= $334,000
<u>Cash collection May:</u>
Sales on account from May= 344,000*0.5= 172,000
Sales on account from April= 380,000*0.5= 190,000
Total cash collection may= $362,000
