In the past several years, shakira had loaned money to shakira inc. (an s corporation) to the corporation keep afloat in a downturn. her stock basis in the s corporation is now $0, and she has deducted $49,500 in losses, reducing her debt basis from $110,000 to $60,500. things appear to be turning around this year, and shakira inc. repaid shakira $22,000 of the $110,000 outstanding loan. what is shakira’s income, if any, on the partial loan repayment?

Which of the following pairs is most similar to each other? a. barter goods and fiat money b. digital money and barter goods c. fiat money and digital money d. commodity money and digital money

All of the industries and businesses in the country of marksenia are privately owned and sell products at different prices that are not controlled by the government or any other organizational body. consumers in marksenia are free to buy as much of the products as they like from the businesses they want. the country of marksenia has a

Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000.  ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account.  iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620.  iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account.  v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books.    required: 1. prepare the journal entries to correct the errors.  (narrations required)                    14.5 marks  2.    prepare the suspense account showing clearly the original trial balance error.          8 marks