Answer:
Accrual basis of accounting
Explanation:
As we know that the income statement only reports the total expenses incurred and total revenues generated in a given period of time.
This accounting basis refers to the reporting of the transactions when they are earned or incurred instead of received or paid.
In this, it also follows the matching principle that stated the expenses should be matched with the revenues of the same period.
Mac and June, who file as married filing jointly with a modified AGI of $430,000 and a tax liability of $20,000.
Option D
Explanation:
For every eligible minor child under the age of 17 at the end of the tax year, the Child Tax Credit is granted to US taxpayers. In December 2017, the recent tax legislation doubled the loan to 2,000 dollars per child, making much of it reimbursable. 1 It was a non-refundable bonus of $1,000 previously.
If the taxpayer is filing jointly then the claim of child tax credit will be up to the tax liability. Thus, Mac and June has tax liability of $20,000 and the maximum limit of child credit is $2,000. Thus, they can claim full $2,000 claim and reduce their liability to $18,000.
Answer:
Begining Cash 40,000
receipts from sales 255,000
payment to supplies (104,500)
payment of wages (40,000)
other cash expenses<u> (60,000) </u>
Ending Cash 90,500
Explanation:
raw materials disbursment for the month of september
80,000 x 35% = 28,000 for August purchases
110,000 x 65% = <u> 71,500 </u>for September purchases
Total payment 104,500
the depreciation and accrued expenses along with the interest payable (which are also a accrued expense) will not be included as they don't represent neither a cash inflow nor outflow.
Answer: . an increase in aggregate demand and short-run aggregate supply
Explanation:
From the question, we are informed that during the 1990s, the economy of the United States was experiencing long-run economic growth, low unemployment, and a stable inflation rate.
The reason for this is due to an increase in aggregate demand and short-run aggregate supply. This two factors will lead to the long run economic growth which the United States experienced.
Answer: Your answer would most likely be C. Physical attributes.
Explanation: