Answer:
c. Debit to Fair value adjustment for $30,000
Explanation:
The first step of accounting process is Journal entry and it is made to record the transactions for process of book keeping, it defines the accounts involved and effects of transactions on the account by debit or credit.
As the bond price is amortized earlier by 5,000 then its net realizable value was $195,000 ( $200,000 - $5,000 ). on December 31, year 3 the fair value adjusted to $225,000. so the adjusted value will be $30,000 ( $225,000 - $195,000 ). The journal entry is as follow
Dr. Cr.
Dec 31, year 3
Fair value adjustment account 30000
Unrealized gain on available for sale securities 30000
True. When you analyze the key elements of a country's economic perspective environment, it is best to apply a systems perspective. When you follow the systems perspective you should be taking all of the behaviors, attributes and actions of a system when it's in its environment. instead of individualizing people and things within, it's an overall evaluation of the system.
the board of governors of the federal reserve system
Answer:
The corporation's tax liability is $ 228,820.
Explanation:
To calculate tax liability we first have to find net profit. Detail calculation is given below.
<u><em>Net profit Calculation</em></u>
Sales $ 3,130,000
cost of goods sold and the operating expenses ($ 2,080,000)
Interest expense ( $ 377,000)
Net profit $ 673,000
<u><em>Tax liability Calculation</em></u>
Income fall under Tax bracket of 34% ($75,001 to $10,000,0000 for corporate tax. No additional surtax will be charged as income do not fall under its net.
Tax liabilty = 673,000 * 34% = $ 228,820
Lee lives in a nation that has a worldview that values subordination of the individual to the goals of the group. Lee's country also follows the principle that people should be judged by their contribution to the group. Lee's country is collectivism.
<h3><u>
Explanation:</u></h3>
The principle that gives importance and priority to the group rather than the individuals is called as collectivism. It gives importance to the group for instance a family rather an individual in that family. For instance consider the activity of a child who has been brought up in a collectivist society.
He will have the tendency to take care of the parents who are older and when they are not feeling well instead of taking care of themselves. In the given example, the country in which LEE lives is giving priority to the group and thus Lee's country is collectivism.
