Answer:
$23,000
Explanation:
LLC interest for $18,000 +$5,000 one-fourth share of the LLC’s debt
=$23,000
Therefore If Andy bought Bruce’s LLC interest for $18,000, Andy’s outside basis in Arlington, LLC will be $23,000 because Andy's basis would equal the amount he paid for his LLC interest plus his share of the LLC debt which is why he would have a starting basis of $18,000 + $5,000 of LLC debt, or $23,000
Answer:
Explanation:
The journal entry is shown below:
1. Accounts receivable A/c Dr $160
To Sales discounts forfeited $160
(Being sales discount is recorded)
The computation of the sales discount is shown below:
= (Sales value - payment made) × discount rate
= ($40,000 - $24,000) × 1%
= $160
2. Cash A/c Dr $16,000
To Accounts receivable A/c $16,000
(Being cash is received)
Answer:
Inflation refers to the general rise in price levels of goods and services in an economy.
2014 Inflation;
= 4.7%
2015
= 4.39%
2016
= 3.48%
2017
= 5.39%
What is the most common function performed by electronic data interchanges? S<span>ending electronic equivalents of structured documents between different organizations. An electronic data interchange is an interchange between computers to other computers within the same type of business. These interchanges are used for the programs to communicate electronically. </span>
Answer: $193,800
Explanation:
Based on the information given in the question, the expense that Holyoak should report for its promotional coupons in its 2021 income statement would be calculated as:
= 11400 × 85% × 20
= 11400 × 85/100 × 20
= 11400 × 0.85 × 20
= $193,800
