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3 years ago

Help me to answer thi Q! Thanks!

Business

1 answer:

cestrela7 [59]3 years ago

7 0

Divide the numbers on the first graph by 1’s and you get your answer

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On November 1, year 1, Jamie (who is single) purchased and moved into her principal residence. In the early part of year 2, Jami

Deffense [45]

Answer:

correct option is $31,250

Explanation:

given data

home sold gain = $45,500

to find out

gain may Jamie exclude from gross income in year 2

solution

as given November 1 purchase home February 1 sold

so we know here that Maximum exclusion will be

Maximum exclusion = $250,000 × $\frac{3}{24}$

Maximum exclusion = $31,250

so here $31,250 may Jamie exclude from her gross income in year 2

correct option is $31,250

7 0

3 years ago

businesses are required to follow laws and regulations, but they ___ follow ethical standards in a code of ethics

leonid [27]

Answer:

businesses are required to follow laws and regulations, but they choose to follow ethical standards in a code of ethics

3 0

2 years ago

Posada Company acquired 7,000 of the 10,000 outstanding shares of Sabathia Company on January 1, 2019, for $840,000. The subsidi

V125BC [204]

Answer:

1.-The balance in investment account as of the October 2013 before sale : 1,140,650

2.-Balance in investment account after the sale

977,700

Explanation:

1.Investment balance as on 1st Jan 2013 1,085,000

Add : Share of Profit for 9 month of 2013 63,000 =120000/12*9*70%

Less: Amortization of acquisition premium for 9 month 7,350 =70000/5*9/12*70%

Investment balance as on 1st Oct 2013 1,140,650

Less : Cost of Sales of Investment 162,950 =1140650/7000*1000

Balance after sale of Investment 977,700

Calculate the effect (profit or loss) from the sale of the 1,000 shares

Number of shares as on 1st Oct 2013 7,000.00

Value Per share (1,140,650/7,000) 162.95

Number of shares sold 1,000.00

Value of investment sold 162,950.00

Less : Sales consideration of investment sold 191,000.00

Gain on Sale of Investment 28,050.00

2.-Investment balance as on 1st Jan 2013 1,085,000

Add : Share of Profit for 9 month of 2013 63,000 =120000/12*9*70%

Less: Amortisation of acquisition premium for 9 month 7,350 =70000/5*9/12*70%

Investment balance as on 1st Oct 2013 1,140,650

Less : Cost of Sales of Investment 162,950 =1140650/7000*1000

Balance after sale of Investment 977,700

5 0

2 years ago

In a free market system, price controls can include both floors and .

DochEvi [55]

<span>False! In a free market is wrong to use any kind of price control, once it would turn the "free" in a "state managed" market, which means contradictory from the classic approach of the free market philosophy of economy. Some kind of partial free market policy can establish a floor price or a ceiling price, but it is not a free market.</span>

3 0

3 years ago

Read 2 more answers

A company ages its accounts receivables to determine its end of period adjustment for bad debts. At the end of the current year,

noname [10]

Answer:

Bad Debts Expense 21,550

To Allowance for Doubtful Accounts 21,550

Explanation:

Before passing the adjusting entry, first we have to determine the adjusted amount which is shown below:

= Ending balance of accounts receivable + debit balance of Allowance for Doubtful Accounts

= $21,000 + $550

= $21,550

Now the adjusting entry would be

Bad debt expense A/c Dr $21,550

To Allowance for doubtful debts $21,550

(Being estimated bad debts is recorded)

6 0

3 years ago