On december 15,2013, rigsby sales co. sold a tract of land that cost $36 for $45. rigsby appropriately uses the installment sale method of accounting for this transaction. terms called for a down payment of $5 with the balance in two equal annual installments payable on december 15,2014, and december 15,2015. ignore interest charges. rigsby has a december31 year-end

q1: in 2013, rigsby would recognize realized gross profits of

q2: in 2014, rigsby would recognize realized gross profits of

q3: in its december 31, 2013, balance sheet, rigsby would report:

a realized gross profit of $1

b: deferred gross profit of $1

c: installment receivables(net) of $32

d: installment receivables(net) of $4

q4: at dec 31,2014, rigsby would report in its balance sheet:

a: realized gross profit of $5

b: deferred gross profit of $4

c: realized gross profit of $4

d: cost of installment sales $16

Which of the following statements is correct? large corporations are taxed more favorably than sole proprietorships. corporate stockholders are exposed to unlimited liability. due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u.s. businesses (in terms of number of businesses) are organized as corporations. most businesses (by number and total dollar sales) are organized as partnerships or proprietorships because it is easier to set up and operate in one of these forms rather than as a corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, mainly because corporations have important tax advantages over proprietorships and partnerships. most business (measured by dollar sales) is conducted by corporations in spite of large corporations’ often less favorable tax treatment, due to legal considerations related to ownership transfers and limited liability.

Perez, inc., applies the equity method for its 25 percent investment in senior, inc. during 2018, perez sold goods with a 40 percent gross profit to senior, which sold all of these goods in 2018. how should perez report the effect of the intra-entity sale on its 2018 income statement?

How are interest rates calculated by financial institutions? financial institutions generally calculate interest as (1) interest or (.