Business, 01.10.2019 04:30 richaeviney
If a previously unrecorded expense is recorded when it is paid with cash recording the the transaction will : group of answer choices increase expenses and increase liabilities. decrease expenses and increase liabilities. increase expenses and decrease expenses by an equal amount. increase expenses and decrease assets. increase expenses and increase retained earnings.
Answers: 3
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The movement of an economy from one condition to another and back again
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What common business mistake can cost you everything
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Barry owns a 50 percent interest in b& b interests, a partnership. his brother, benny, owns a 35 percent interest in that same partnership, and the remaining 15 percent is owned by an unrelated individual. during 2016, barry sells a rental property with a basis of $60,000 to b& b interests for $100,000. the partnership intends to hold the rental as inventory for resale. what is the amount and nature of barry’s gain or loss on this transaction?
Answers: 1
If a previously unrecorded expense is recorded when it is paid with cash recording the the transacti...
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