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3 years ago

14

Wesley owns and operates the cheshire chicken ranch in turpid, nevada. the income from this ranch is $49,000. wesley wishes to u

se the easiest possible tax form. he may file:

1 answer:

VLD [36.1K]3 years ago

6 0

He may file an form 1040.
Hope this helps!

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A $300,000 bond was redeemed at 98 when the carrying value of the bond was $292,000. the entry to record the redemption would in

Kobotan [32]

Answer:

correct option is a. loss on bond redemption of $2,000

Explanation:

given data

bond = $300,000

redeemed at = 98

carrying value of bond = $292,000

to find out

entry to record the redemption would include

solution

we know here that Redemption value is

Redemption value = bond × redeemed

Redemption value = $300,000 ×98%

Redemption value =$294,000 ................1

and here Carrying value is $292,000

so we paid excess amount that is

paid excess amount = $294,000 - $292,000

paid excess amount = $2000

so here correct option is a. loss on bond redemption of $2,000

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