The amounts collected by the lender and held in a trust or impound account for future payment are called Reserves.
Reserves are earnings that have been appropriated or set apart, for use for a selected cause in addition down the road. A few examples of specific reserves include capital redemption reserves, contingency reserves, debenture redemption reserves, and dividend equalization reserves. each of these reserves has a particular purpose, but, if important, specific reserves can every so often be used for bills that are not their meant functions.
Reserves may be funded by way of annual working surpluses, or thru a funding plan. These price ranges are considered to be "savings bills" so no fees can be charged without delay to them; the simplest transfer object codes must be utilized to reserve money owed.
A lender is a man or woman, a set (public or non-public), or an economic institution that makes finances available to a person or business with the expectation that the price range could be repaid. Compensation will include the charge of any hobby or costs.
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Answer:
$405,000
Explanation:
The calculation of total amount is shown below:-
If the company disposes of the equipment to buy the new equipment, the sunk cost will be the old equipment's book value.
Sunk cost = Book value of the old Equipment
Sunk cost = Cost of equipment - Accumulated Depreciation
= $550,000 - $145,000
= $405,000
Therefore for computing the sunk cost we simply deduct the accumulated Depreciation from cost of equipment
Economic classes refer to the position of people on the earning ladder. For Sarjit and Rhonda, the theory that classifies them into the same economic class is that of;
According to Karl Marx, there are two economic classes, namely, the bourgeoisie and the proletariat. The bourgeoisie are the rich and working-class members of society while the proletariats are the workers.
Given this classification, Sarjit and Rhonda belong to the same economic class of workers.
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Answer:
Option A, total debits to the inventory account would be $37,800, is correct
Explanation:
The cost of the merchandise inventory to Wilson Company is the cost of the inventory purchased and the freight-in cost.
In other words, the amount to be recognized in merchandise inventory account is the sum of both amounts i.e $35,000+$2800=$37,800
This would be debited to merchandise inventory and $2,800 would be credited to the cash account while $35,000 is credited to accounts payable
Answer:
$15,000
Explanation:
Calculation to determine How much of the casualty loss will be a tax deduction to Zeta, Inc.
Using this formula
Casualty loss tax deduction=Casualty loss-Insurance recovered
Let plug in the formula
Casualty loss tax deduction=$45,000-$30,000
Casualty loss tax deduction=$15,000
Therefore the amount of the casualty loss that will be a tax deduction to Zeta, Inc. is $15,000
