Answer:
Taxable Income = $29,100
Explanation:
Itemized Deductions=$3000
Standard Deduction for head of household=$8500
Personal and dependency exemptions=2*3700=$7400
Taxable income=45000-7400-8500=$29,100
Answer:
Financial accounting
Explanation:
The Generally accepted accounting principle (GAAP) is the standard, principles and procedures that accountant must follow or adhere to when compiling financial statements. The major objective of GAAP is to make the accounting process uniform so financial reports are comparable from one company to another.
Answer:
Please refer to the below for Journal entries
Explanation:
The journal entries are seen below
1. Cash A/c Dr $58,523
Discount on bond payable A/c Cr $4,477
To bonds payable A/c Cr $63,000
(Being the issuance of bond that is recorded)
2. Interest expense A/c Dr $2,048
To discount payable A/c Cr $158
To cash A/c Cr $1,890
(Being the first interest payment that is recorded)
Note:
Interest expense
= $58,523 × 7% × 6 months ÷ 12
= $2,048
Cash
= $63,000 × 6% × 6 months ÷ 12
= $1,890
Full question:
Classify each possible change listed according to whether it will make small farms more efficient or less efficient based on the information in the Washington Post article Small vs. Large: Which Size Farm Is Better for the Planet:
Plant more disease-resistant crops, reduce the number of different crops planted, avoid planting genetically modified crops, rely more on organic rather than synthetic methods of farming,
Answer and Explanation:
Plant more disease-resistant crops is classified under more efficient and Less costly. The writer believes disease resistant crops increase efficiency as there is reduced occurrence of death of crops and consequent increased losses and costs
Reduce the number of different crops planted is classified under more efficient and less costly. The writer emphasizes specialization in farming whereby for example planting rice or corn should be done alone and not mixed with other crops as this would be less efficient and costly.
Avoid planting genetically modified crops is classified less efficient and more costly. The writer encourages planting genetically modified crops as genetically modified plants are geared towards increased plant product and yield from genetically optimized plants
Rely more on organic rather than synthetic methods of farming is classified less efficient and more costly. In the article, the writer believes chemically induced crops are bad for the environment and don't yield much in efficiency with time
