Answer
The answer and procedures of the exercise are attached in a microsoft excel document.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
Answer: ✓ an intermediate goal that affects a long-term goal
Answer:
a. CPA exam review course $0
b. Law school expenses $4,000
Explanation:
1a. CPA exam review course will be $0 because the IRS has disallowed any costs that will lead to qualifying for a different trade .
1b. The Law School expenses will be $4,000 . Based on section 222, Samantha is been limited to $4,000 of the tuition paid.
Therefore the balance of $650 is excess tuition $200 + $450 books which will not qualify under the regular education expense deduction due to the negative position of the IRS on law school costs.
A. We find the price where the quantities are equal, to find the equilibrium price, which occurs at the rent (price) of $2,000. The equilibrium quantity is 12,500 apartments at this price.
b. If the government imposes a maximum rent of $1,500, the quantity of apartments demanded equals 15,000 and the quantity of apartments supplied equals 10,000. Thus, there is a shortage of 5,000 apartments (= 15,000 (demand) - 10,000 (supply)). The amounts of apartments rented will be determined by supply here. There is a total of 10,000 available for rent, so only 10,000 will be rented.
c. The quantity of apartments supplied equals 15,000 and the quantity of apartments demanded equals 10,000, If the government imposes a minimum rent of $2,500. Thus, there is a surplus of 5,000 apartments (= 15,000 (supply) - 10,000 (demand)). The amounts of apartments rented will be determined by demand here. There are only 10,000 households that want to rent, so only 10,000 will be rented.
d. Fall to $1500 per month: 2,500 more apartments
Fall for $1000 per month: 5000 more apartments
Fall for $500 per month: 7,500 more apartments
Answer:
Bond's carrying amount = $63,350
Explanation:
This is a very trivial question and can be solved in just a very few lines.
Balance in Bonds Payable Account = $65,500
Discount on Bonds payable Account = $2,150
The bond's carrying amount can be gotten by simply subtracting the discount on Bond's payable account from the balance in bonds payable account.
Carrying amount = (Balance in Bonds Payable Account) - (Discount on Bonds payable Account)
Carrying amount = $65,500 - $2,150
Carrying amount = $63,350