Which document must a prospective buyer of an existing (resale) condominium unit receive?

Answer:

using supplies

Explanation:

An expense can be described as cost incurred by a company in a bid to earn revenue.

When supplies are used no explicit cost is incurred in the process so it doesn't qualify as an expense.

I hope my answer helps you

Expenses include making a payment on account, using supplies, and paying wages for production workers for work performed during the current period.

What is not considered an expense?

However, paying for electricity used during the current period is not considered an expense. Instead, it is categorized as an operating cost or utility cost.

Expenses typically refer to the costs incurred by a business in its day-to-day operations, such as purchasing inventory, paying wages, or using supplies.

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Answer: Please see the analysis below

Explanation: The following are the financial statement effects

                                  Assets Liabilities Stockholders Equity Income Expense

Write-off of $10,000     -           -                   Nil                           Nil         Nil

Bad debt of $8,000     -           +                   -                                -             +

• Write-off of customer balances of $10,000 would lead to reduction in assets and also reduction in liabilities (since the provision for doubtful accounts reports to liabilities but mapped to the accounts receivable to show the net amount). Here, we have assumed that there is an existing allowance for doubtful accounts that has $10,000 buffer or more. If the write-off was not initially provided for, it would hit expense by debiting bad debt expense and crediting the accounts receivable. Its effects are therefore decrease in asset, decrease in liabilities.

• Bad debt expense of $8,000 affects the expense and the liabilities/assets. Journal entries to record the bad debt expense is Debit Bad debt expense $8,000; Credit Allowance for doubtful accounts $8,000. So, it affects the expense, liabilities and ultimately the assets (allowance for doubtful accounts is a contra to the accounts receivable). Its effects are increase in expense, increase in liabilities, decrease in stockholders equity, decrease in income and decrease in assets

Answer:

Assets =Liabilities +  Stockholders Equity

-8000=                                           - 8000

Explanation:

Allowance for Doubtful  Debts $10,000

Bad debt expense $8,000

Assets =Liabilities +  Stockholders Equity

-8000=                                           - 8000

The write off does not affect the realizable value of accounts receivable. Neither total assets nor net income is affected by the write off a specific account.Instead both assets and net income are affected in the period when bad debts expense is predicted and recorded with an adjusting entry.

Answer:

Correct option is A.

The lawyer should make a motion for summary judgement

Explanation:

A movement for rundown judgement is Sled offer the disclosure procedure attesting that no truthful debates exist and that if the appointed authority applied the law to the undisputed realities, her solitary sensible choice would be agreeable to the moving party.

Answer:

$10.49

Explanation:

The computation of the net asset value of the fund is shown below:

= (Market value of the assets - market value of the liabilities) ÷ number of oustanding shares

where,

Market value of assets is

= (200,000 × $35) + (300,000  × $40) +  (400,000 × 20) + (600,000 × 25)

= $42,000,000

So, the net asset value of the fund is

= ($42,000,000 - $30,000) ÷ (4,000,000)

= $10.49

Answer:

The quarter has 3 months so all 15 weeks shall have following taxes:

Employee Wages Exempt under FUTA or SUTA

Employee 1  

Wages = 15 week x 900 = 13.500  

Exempt under FUTA or SUTA = 13,500 - 7,000 = 6.500

Employee 2  

Wages = 15 week x 1200 = 18.000  

Exempt under FUTA or SUTA = 18.000 - 7,000= 11000

From the above table.

The JM pays employee 1: 900 and employee 2: 1,200. For 15 weeks they were paid,

Employee I is paid, 900 x 15 weeks

= 13,500

Employee 2 is paid, 1200 x 15 weeks

= I 8,000

For employee 1,

= 13,500 - 7,000

Here, SUTA tax is 5.4% on the first 7,000 the employer pays an employee = 6500

For employee 2,

=18,000 - 7000

Here, the SUTA tax is 5.4% on the first 7000 the employer pays an employee =11000

The taxable wages are obtained by deducting.

= (13,500 +18000) - (6,500 +11,000)  

= 31500 - 17500

= 14000

The SUTA and FUTA taxes that JM pays at the end of quarter 1 and 2 is, SUTA,

0.057 x 14,000 = $798

FUTA.

0.008 x 14000

= $112

Hence. The SUTA and FUTA taxes paid are $798 and $112 respectively.

Final answer:

Jean Michaud will pay a state unemployment tax of $1,556.10 and a federal unemployment tax of $163.80 per quarter for his two employees.

Explanation:

The question pertains to calculating the unemployment taxes that Jean Michaud will have to pay for his two employees at a state rate of 5.7% and federal rate of 0.6%. Firstly, we calculate the total wages paid to both employees per quarter. One quarter comprises 13 weeks, therefore the total wages paid per quarter would be ($900+$1200) * 13 = $27,300.

Next, we calculate the unemployment taxes. The state unemployment tax would be $27,300 * 5.7% = $1,556.10 and the federal unemployment tax would be $27,300 * 0.6% = $163.80.

Therefore, the state and federal unemployment taxes Jean will pay at the end of quarters 1 and 2 are respectively $1,556.10 and $163.80. Note, these calculations assume that these are the only two employees and their wages are constant throughout these quarters.

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