Answer:
$127,000
Explanation:
Calculation for the amount to be reported as taxable income
Using formula
Taxable income=[Year 8 Income Statement + Rent received in advance -Income from exempt municipal bonds -(Depreciation deducted for income tax purposes-Depreciation deducted for financial reporting)]
Let plug in the formula
Taxable income=[$130,000+$ 22,000 -$ 17,000 -( $ 18,000 -$ 10,000 )]
Taxable income=$130,000+$ 22,000 -$ 17,000 -$8,000
Taxable income=$127,000
Therefore the amount that Packer should report as taxable income will be $127,000
banks basically make money by lending money at rates higher than the cost of the money they lend.
Which is basically, they charge for deposits and they collect interest from loans and interest payments
<span>The federal organization charged with monitoring illegal workplace discrimination is called the equal employment opportunity commission (EEOC).
When you are applying for a job or working for a company it is illegal for them to not pick you of something based on what you look like or your gender, nationality and the characteristics that make you, you. Each person regardless of what they look like have to be treated the same and given equal employment opportunity. If there is known discrimination in the workplace, there is a hotline that employees can call to report their workplace to the EEOC.
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Answer:
December 31 2021 Interest expense $2000 Dr
Interest Payable $2000 Cr
Explanation:
The interest on note payable is an expense. Assuming that the year end adjusting entries are made on 31 December, we will accrue the interest on note that relates to this year i.e. 2021 following the accrual basis of accounting. The interest that relates to 2 months of 2021 i.e. November and December will be:
Interest expense = 100000 * 0.12 * 2/12 = $2000
The interest will be recorded as interest expense and the interest expense account will be debited. As the interest is due but will be paid on maturity, we will credit interest payable account by the amount of interest due.
The safest you can be is with rubber gloves let be serious little kids put in battery ok back to question, dont go near water or hot places make sure power off
