A bilateral is a formal agreement between two or more governments!
Answer: $252,875
Explanation:
This concerns a value in future (2 years) so the future value formula can be used;
= 350,000 * ( 1 - 15%) ²
= $252,875
House will be worth $252,875 at the end of 2 years if it declines in value at 15% per year.
Answer:
$602,000
Explanation:
Since the foreign currency is the functional currency in this case, what is required to be done is the translation of the balance sheet accounts, not a remeasurement of the accounts.
The guiding principle is that when the financial statement of subsidiary is prepared using functional currency, assets and liabilities should be translated using the current rates.
Since $602,000 is the total using the current in the question, the total amount that should be included in Tulip's balance sheet in U.S. dollars is therefore $602,000.
Answer:
(B) I and III
Explanation:
The variable annuity contract allows the investor tho make monthly payment for retirement in two pahses. First it will accumulate on his accounts by mading monthly deposits to yield a return on the fund, stocks or bonds. Then, the investor at retirement age enter the second phase. At which receives payouts from his deposists and earnings.
Therefore, the owner caccounts fluctuate during accumulation period as is ncreaseing or decreasing based on the investment made.
Finally, like all contract is subject to federal and state authority.
The amount deductible by Robert for year 2021 against the meal and entertainment expenses will be 50% that is $420 from the total expense amount of $840.
<h3>What is business deductions?</h3>
The business deductions are the amounts those are allowed to be deducted while filling the income tax. There is certain criteria to deduct different expenses.
As per the IRS regulation, when the tax payer is self-employed then the amount that can be deducted against meal and entertainment can be 50% of the total expense.
Therefore, Robert can deduct only $420 from the taxable income.
Learn more about business deductions, here:
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