I believe the answer is: A) You own a home.
The 1040EZ is created to favour a more bare-bones return (for people who had no dependants i.e wife&kids and generally make under $ 100,000 a year). 1040 on the other hand, is a form that created to favour someone who typicall make more than $ 100,000 and own properties
Answer:
I don't know what are the options available but I know how to account for the cash discounts. For example if the company $10 of discount to the customer for purchasing $100, then the accounting treatment will be as under:
Dr Cash discount (Expense in nature) 10
Dr Cash Received 100
Cr Sales 110
Answer:
Cr. Dr.
Equipment $66,880
Account Payable $62,600
Cash $4,280
Explanation:
All the costs incurred to make asset usable should be capitalised.
Equipment Cost = Purchase Price + Sales Tax + Freight Charges + Insurance Charges + Installation
Equipment Cost = $59,000 + $3,600 + $840 + $1,040 + $2,400
Equipment Cost = $66,880
