Answer:
The interest expense may she deduct this year is $18200.
Explanation:
interest expense deducted this year = interest on home load + marginal interest for the purchase of stock
= $15,100 + $3,100
= $18200
Therefotr, the interest expense may she deduct this year is $18200.
The plan initiated by Sheng can be best categorized as a vision statement based on the plans he wants to implement in his business.
<h3>What is Vision Statement?</h3>
This refers to the statement which contains the goals and objectives of which an organization wants to achieve in a given time period.
With this in mind, we can see that Mr Sheng is making use of vision statement by the plans he is making on how to implement his business and also to hire a marketing team to establish his business.
Read more about vision statement here:
brainly.com/question/4269555
The answer should be D) a higher income pays a higher percentage in taxes or the fourth option.
<h3>
Answer:</h3>
<h3>
Explanation:</h3>
The formula for calculating the Monthly payments P for the sinking fund is as follows:
where,
P = Monthly payments to be made
A = Total amount to be accumulated
i = Interest rate for given time period
n = Number of time period
Assuming interest is applied at the beginning of each period.
We are given two scenarios.
<h3><u>
Scenario (i) - Deposit is made during the year:</u></h3>
In this scenario, as some of the year is already passed (assume 6 months), to complete the time period of 3.5 years the interest will compound 3 times (as the 0.5 year payments can be adjusted in the remaining part of the first year and no interest is applied on it). Hence, the interest will be applied 3 times.
<h3><u>
Scenario (ii) - Deposit is made at the beginning of the year:</u></h3>
For this case, the interest will be applied 4 times to complete the time period of 3.5 years for payment.
Answer:
the inventory should be recorded at $8,500
Explanation:
As we know that according to GAAP, the inventory should be recorded at a cost or net realizable value whichever is lower
So as per the question
Historical cost is $12,000
And, the net realizable value is
= Expected selling price - expected selling cost
= $9,000 - $500
= $8,500
So, the lower cost is $8,500
Hence, the inventory should be recorded at $8,500
