Answer:
Logan Horse Ranch
The most accurate is:
e. None of the above are correct
Explanation:
Logan's payment to his brother, Luke, of $500 per hour, is not a reasonable business expense that can be deductible. Surely, $500 per hour is not a going rate for cleaning the horse stalls per hour. With Lucy doing grocery shopping for Logan, it does not resonate like an ordinary and necessary expense for the business. Therefore, options A to D are not correct. This leaves only option E as the most accurate.
Answer:
A. an outflow or decrease of $1,000.
Explanation:
Ending balance of cash = Opening balance of cash + Net cash flow of the period
Ending balance of cash = Opening balance of cash + ( Cash flow from operating activities + cash flow from investing activities + cash flow from financing activities )
$11,000 = $4,000 + $10,000 + cash flow from investing activities - $2,000
$11,000 = $12,000 + cash flow from investing activities
Cash flow from investing activities = $11,000 - $12,000
Cash flow from investing activities = -$1,000
Answer:
c is the answer to the question
Explanation:
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Answer:
The Journal Entry is shown below in the explanation section
Explanation:
The first step to take is to make use of the Journal entry.
Journal Entries for issuing Bonds
1 May Cash 800,000
Bonds Payable 800,000
1 Nov Interest expense 24,000
Cash 24,000
(800,000* 6%*6/12)
31 Dec Interest expense 8000
Interest Payable 8000
(800,000* 6%* 2/12)
Ratio and proportion is a useful method in determining a value using a known constant in ratio form. In this case, the ratio of cost to price is always 1/4. Hence, the solution goes as follows:
1/4 = 33.85/price
Price = 33.85*4
Price= $135.4