Milton is experiencing cash flow problems during the current year. Rather than foreclose on the $120,000 mortgage loan on his principal residence, his bank agrees to reduce the debt to $90,000 . Prior to the debt reduction, Milton's total assets were $400,000 and his total liabilities were $390,000 . How much income must Milton recognize from the reduction of his bank loan?
a. - 0 -
b. $10,000
c. $20,000
d. $30,000
a
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Answer the following statements true (T) or false (F)
1. The first two steps in applying a situational theory should be to identify leadership behaviors and to identify situational conditions. 2. A leader who focuses on clarifying employees' roles and task requirements and providing rewards and punishments contingent on performance is called a transformational leader. 3. Apple's new CEO, Tim Cook, has been described as a "logistics whiz" and an "operations genius," which is evidence that he is a transformational leader. 4. The best type of leader for a rapidly changing situation is a transactional one.
During meetings, Tomas has a habit of disagreeing with any point someone is trying to make. It seems clear that Tomas enjoys being the center of attention during these disputes and that he’s only objecting so that the attention turns to him. Tomas appears to be a(n) ______ in terms of the types of problem members in a meeting.
a. bored member b. arguer c. silent type d. wanderer
Social movement unionism would serve employee interests by:
A. Capitalizing on workers' identification with their occupations, rather than their industry or employers B. Encouraging employees to have ownership control over their organizations they work for C. Cooperating with management to look for ways to improve efficiency D. Using social and political means to improve rights of workers
The Sales Tax Payable balance has decreased during the year. How would this affect the Statement of Cash Flows operations section under the indirect method?
A) It is already included in the net income. B) It would be added back to net income. C) It would be subtracted from net income. D) It does not affect the cash flow from operations.