Answer: $82,500
Explanation:
Saleh's salary for fiscal year ending September 30 = $330,000
Salary that should be paid between October 1 - December 31, if the corporation is to continue to use it's fiscal year without negative tax effect.
To avoid negative tax effect, the Saleh's salary should be atleast equal to the amount being given for the fiscal year which ended in September 30.
October 1 - December 31 = 3 months
Saleh's monthly salary = total slary during fiscal year ÷ 12
$330,000 ÷ 12 = $27,500
October 1 - December 31 = $27500 * 3 = $82,500
The correct answer is Neutral stance
Answer:
Mortgage, 20%, 80%
Explanation:
Typically required on Mortgage loans when the down payment is less than 20% and loan-to-value ratio is in excess of 80%. Loans with higher LTVs don't conform to Fannie Mae/Freddie Mac guidelines, so a lender may require PMI to offset the risk.
Answer: $825
Explanation:
Total seminar cost for the team;
= 150 * 5 people
= $750
Two cars need to be driven the 100-mile round trip at 37.5 cents per mile.
= 2 * 100 * 37.5
= 7,500 cents
= $75
Cost of Seminar = 750 + 75 = $825
Answer:
III. I, II, III, and IV.
- I. It is part of the double-entry procedure that keeps the accounting equation in balance.
- II. It represents a decrease to assets.
- III. It represents an increase to liabilities.
- IV. It is on the right side of a T-account.
Explanation:
The debit-credit balance is necessary for maintaining the accounting equation in balance, i.e. all the debits must have a corresponding credit.
Asset accounts increase when they are debited and decrease when they are credited.
Liabilities accounts decrease when they are debited and increase when they are credited.
Debits are on the left side of a t-account and credits are on the right side.
