B. Car payments must become part of the budget.
Answer: $32000
Explanation:
It should be noted that ministers or clergymen can exclude the home rental value or housing cost from the calculation of the gross income
Rev. Snider's self-employment income
Therefore, in this case, Rev. Snider's self-employment income will be:
Salary = $20,000
Add: Housing allowance = $12000
Total = $32000
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Your goal is to have $15,000 in your bank account by the end of four years. The interest rate remains constant at 4% and you want to make annual identical deposits.
<u>End of the year:</u>
To calculate the annual deposit, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (15,000*0.04) / [(1.04^4) - 1]= $3,532.35
<u>Beginning of the year:</u>
A= {(FV*i)/ {[(1+i)^n] - 1]} / (1+i)
A= 3,532.35/ 1.04= $3,396.49
The difference resides in the interest compounded. At the beginning of the year the interest compound for one more period.
Answer:
The Journal entry with their narrations shown below:-
Explanation:
The Journal Entry is shown below:-
1. Petty cash Dr, $271
To Cash $271
(Being establishment of petty cash fund is recorded)
2. Freight-in Expenses(delivery charges) Dr, $76
Supplies expenses Dr, $41
Postage expenses Dr, $49
Loan to employees (Accounts receivable) Dr, $33
Miscellaneous expenses Dr, $52
Cash short and over Dr, $8
To Cash $259
($271 - $12)
(Being disbursement of cash is recorded)
3. Petty cash Dr, $116
To cash $116
(Being increase in petty cash is recorded)
The answer: Kelly owns a massage studio and is offering free 15-minute massages to the participants of a popular 5K race event. This is an example of advertising
