Jason, your client, is developing a subdivision of 140 houses. He may place deed restrictions on as many as 140 (100%) properties.
<h3>What is a deed restriction?</h3>
This is the term that is used to refer to the written agreements that are done in order to restrict and limit activities that may go on in a property.
These are private agreements that are made. It has to be 100 percent on the properties.
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Savannah Corporation should report revenue from investment for 2017 in the amount of $80,000.
<h3>Amount to be reported as revenue</h3>
First step
Percentage ownership=35,000/140,000 shares ×100
Percentage ownership=25%.
Second step
Using equity method
Revenue from investment=25%× $320,000
Revenue from investment=$80,000
Therefore Savannah Corporation should report revenue from investment for 2017 in the amount of $80,000.
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Answer:
c.
Explanation:
Based on the information provided within the question it can be said that in order for it to be enforceable, a writing is required for the employment agreement. This is because the employment requires initial work for a month before receiving payment for the services provided. Unlike the other two purchases, since money is being exchanged directly for a product or service at the exact moment.
Answer:
firm-specific risk.
Explanation:
Firm-specific risk can be regarded as unsystematic risk tht is associated with a specific investment in a particular firm, and as regards to theory of finance this is completely diversifiable.
Under this risk, It is possible for an investor to lower their risk through increament of the number of investments that they are having in their portfolio. As regards investor,
specific risk can be regarded as hazard which applies to a specific company.
It should be noted that The risk that cannot be diversified away is firm-specific risk.
Answer:
a. $13,000
b. $17,000
c. $27,000
Explanation:
a= Net income (loss) = Service revenue - Other operating expenses
Net income (loss) = $25,000 - $12,000
Net income (loss) = $13,000
b. Ending retained earnings = Beginning retained earnings + Net income - Dividends
Ending retained earnings = $5,000 + $13,000 - $1,000
Ending retained earnings = $17,000
c. Total assets = Cash + Accounts receivable + Supplies + Equipment
Total assets = $15,000 + $3,000 + $3,000 + $6,000
Total assets = $27,000
