Answer:
123,196
Explanation:
Recognized gain
= Liability on transferred real estate - Adjusted basis
= 771,596 - 648,400
= 123,196
Basis = 0
Answer:
a. $1,000 will be recognized as service revenue using the cash basis.
b. $2,400 ($1000 plus $1400) will be recognized as service revenue using the accrual basis.
Explanation:
Given that as of the end of the year, Peaceful Home has collected $ 1,000 from cash-paying customers while Peaceful Home 's remaining customers owe the business $ 1,400.
Revenue to be recognized using;
$1,000 will be recognized as service revenue using the cash basis.
On accrual basis, revenue is recognized when the service has been provided irrespective of whether cash has been collected or not.
A total of $2,400 ($1000 plus $1400) will be recognized as service revenue using the accrual basis.
Answer:
monthly payment = (total amount owing+interest to be paid) / 12 months
Explanation:
Monthly repayments include the total amount owing on the credit card, plus the interest to be paid. This amount should then be divided into 12 monthly payments in order to get one constant amount to be paid each month for the 12 month period. We will assume there are no other factors affecting the amount, other than interest.
The formula to calculate the monthly repayments in the credit card is as follows:
(total amount owing + interest) / 12 months
For example, say the amount owing was $100 and the total interest to be paid was $20; the monthly repayment would be calculated as ($100+ $20) / 12 months. This would mean the credit card holder pays $120/12 = $10 per month in order to repay the debt.
Answer:
Option C
Explanation:
f a $100 drop in the price of a $10,000 car resulted in an increase in the quantity of cars purchased from 100 to 110 and a $100 drop in the price of a $1,000 vacation rental resulted in an increase in the quantity of weekly vacation homes rented from 100 to 110, the price elasticity of demand the same for both the car and the vacation rental.
The elasticity remains unchanged because the percentage change in price and percentage change in quantity are tne same in both cases.
