The amount of the sales transaction would include a debit to cash is $970.
<h3>How is the percentage determined?</h3>
- The percentage is a value that has been multiplied by 100. In this manner, expressing 25% of a value is equivalent to expressing 25% out of 100, or 25% divided by 100.
- Simply multiply the total by the percentage to determine the precise number of absentees from the event.
So: 160 x 25% = 160 (25/100) = 160 x 0.25 = 40
This is so that the cash sum received will be equal to the sales values multiplied by one less the credit card fee.
1000 x (1-0,03)
1000 x 0,97 = 970$
So, the amount of debt to cash that would entry to the record sales would be 970$.
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Answer:
$102,000
Explanation:
According to 26 US code Section 704(c) - Partner's distributive share :
Taxable gain to be recognized from sale = Sale value - ( Partner's share * Fair market value )
Brooke contributed the land, the gain realized before the land was contributed = $120,000 - $90,000 will be allocated entirely to her. She will also be allocated 40% of the gain after the contribution was made = ($150,000 - $120,000) x 40% = $30,000 x 40% = $12,000.
So the total gain recognized by Brooke will be $90,000 + $12,000 = $102,000.
Partnerships are pass through entities, the partners are taxed, not the partnership itself.
The computation shows that the amount that will be made will be $420.
<h3>How to compute the value?</h3>
From the information, it was stated that a particular plot of land can produce 700 kg of beef per hectare. beef sells for $4/kg.
It was then stated that if that land is converted to producing corn, which sells for $0.15/kg, approximately how much will the farmer make selling corn.
The amount made will be:
= 700 × 4 × 0.15
= 700 × 0.6
= $420
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Answer: D. Both A and B are correct.
Explanation: Amortization is the reduction or paying off debt over time in a series of payments of interest and principal sufficient to repay the loan in full by its maturity date. As an accounting technique, it is used to periodically lower the book value of a loan or intangible asset over a period of time. Amortization related to overvalued equipment increases consolidated net income and under the equity method (a method used in the valuation of a firm's investment in another when it holds significant influence over the firm being invested in), it increases the parent's reported net income.
