Answer:
Date Account title and explanation Debit Credit
March 1 Equity investment $32,000
($612,000/17%)*8% - $256,000)
Unrealized holding gain $32,000
(To adjust the value of equity investment)
Note: On 1 march, value of the investment value is increased which is unrealized based on 31 December fair value
Answer:
c. An overdraft is a fee your bank charges you for opening a checking account.
Explanation:
Checking account is a deposit account with a bank or any financial institution that allows the owner of such account to make withdrawals and deposits. They are also known as demand accounts or transactional accounts. They are very liquid and allows for countless deposits and withdrawals and can be obtained by using automated teller machines, checks and electronic debits, and a number of other methods.
A checking account is unlike other bank accounts like less liquid savings or investments account it allows for countless withdrawals and unlimited deposits, and savings accounts sometimes limit both.
The statement that an overdraft is a fee that banks charges for opening a checking account is false.
Overdraft is a form of extension of credit from a finiancial institution and often granted when an account reaches zero. it allow such account holder to continue withdrawing money even though the account has no funds or insufficient funds that would cater for and cover the amount of the withdrawal. So it is not the fee that bank charges for opening a checking account, instead what checking account offers is overdraft protection in which if a checking account owner write a check or make a purchase than the funds in the checking account, the bank may cover the difference.
Answer:
Gabbie is in the Information Search phase of the consumer decision process. This is the second phase.
Explanation:
The Consumer Decision Process is a situation in which a consumer passes through the phases listed below in order to make a final purchase decision.
1. The first phase where the consumer recognizes a need they have to fulfil.
2. The second phase in which Information search is carried out in order to determine how best to meet this need.
3. The third phase which Alternative Evaluation phase. Here, the consumer evaluates each medium that can fulfil their needs.
4. The fourth phase, which is the decision making phase. Here, the consumer makes their purchase decision based on the evaluation of alternatives in the previous phase.
<span>A facility manager is the person responsible for coordinating all the employees and entities involved in the facility to ensure that they work on behalf of the facility and help meet its short- and long-term goals and objectives. Many people are in fact facility managers in their daily lives and do not realize it. The person who is the head of a household is really a facility manager. That person needs to purchase the house, pay the mortgage, paint the rooms, install new equipment such as air conditioners, maintain existing systems such as the roof, manage facility "subletting" (as in determining who is going to get which room), interact with government entities to pay taxes, and employ tradespeople such as plumbers and electricians.
Hope this helps.</span>
Answer:
$12,500 income tax; $1,250 penalty
Explanation:
The distribution from the traditional IRA is fully taxable since he Tyson receives a distribution of the entire $50,000 balance of his traditional IRA
($50,000 x 25%) = $12,500.
Therefore Tyson must pay a 10% penalty on the portion of the distribution that he did not contribute to a Roth IRA despite Tyson receives a distribution of the entire $50,000 balance of his traditional IRA in which he retains $12,500 to pay tax on the distribution
($12,500 x 10%) =$1,250
Therefore $12,500 will be his income tax amount and $1,250 will be his penalty amount
