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sergeinik [125]
3 years ago
7

Wendy is a self employed certified financial planner and began his business in 2018. During 2018, she purchased a $500 computer

and a $250 desk. She also paid $6,000 in legal/incorporation fees,and spent $12,000 for a new roof for the office building she owns. Which purchase(s) can she expense in 2018 without limitation? a) computer,desk,legal/incorporation fees,roof b) computer,desk,legal/incorporation fees c) computer and desk d) legal fees/incorporation fees, roof
Business
1 answer:
Ann [662]3 years ago
7 0

The correct answer would be option A, computer,desk,legal/incorporation fees,roof.

She also paid $6000 in legal/incorporation fees and spent $12000 for a new roof for the office building she owns. Computer, desk, legal/incorporation fees, roof, purchases she can expense in 2018 without limitations.

Explanation:

Wendy is a financial planner who began his business in 2018. She purchased computers, desks, paid legal/incorporation fees, and also spent money for a new roof for the office building.

All these purchases are already paid by him in the running year. So he does not have to worry about their limitation at least in 2018. These are mostly one time purchases that would need only maintenance in years, or he might have to pay only for the renewal of the legal/incorporation. Otherwise there would be no limitation on him in 2018 at least.

Learn more about Purchase expense without limitation at:

brainly.com/question/8050807

#LearnWithBrainly

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On January 1, 2001, El Salvador "dollarized" its economy. The U.S. dollar circulated throughout the country along with the Salva
solniwko [45]

Answer:

1. The government could not finance it's deficit budget.

2. The Dollar was stable and Through dollar adoption, interest rate would be lowered and investments would increase.

Explanation:

The colon was changed to dollars because El Salvador wanted a boost in it's economy through the US Dollar.

Printing money to finance deficit would no longer be done by the government and inflation would be brought under control. Because of the adoption El Salvador has no control over it's monetary policy.

the government would still be able to run deficits by printing money

with dollars, shocks caused by demand in the economy will be offset more effectively by using monetary policy.

By printing U.S. dollars, the government would still be able to finance deficits.

6 0
3 years ago
Read 2 more answers
Chez Fred Bakery estimates the allowance for uncollectible accounts at 1% of the ending balance of accounts receivable. During 2
steposvetlana [31]

Answer:

See below

Explanation:

Per the above information,

Ending account receivable balance = Beginning account receivable + Credit sales - Collections - Written off amount

$93,000 = Beginning account receivable + $108,000 - $142,000 - $130

$93,000 = Beginning accounts receivable - $34,130

Beginning accounts receivable = $93,000 + $34,130 = $127,130

So, the beginning account receivable would be;

The ending accounts receivable is computed as;

= $930 ÷ 1%

= $93,000

7 0
3 years ago
During last month, your beginning inventory was $17,500, your purchases were $19,252, and your ending inventory was $15,757. Wha
kicyunya [14]

$20,995

Cost of goods sold:

17,500 Beginning inventory

+19,252 Plus purchased inventory

- $15,757 Minus ending inventory

=20,995 Cost of Goods Sold

7 0
3 years ago
If the government uses tax money to pay for long-term investments such as roads or other infrastructure, what happens to the eco
coldgirl [10]

Is this a theory type of question?

If it is and if it took place under president Calvin Coolidge then taxes likely would have gone up.

If you are talking about now, then investment might go up but in order to pay for it, the government will just print more money, so that taxes shouldn't go up.

I'd pick C.

4 0
3 years ago
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Phil, age 20, is single and can be claimed as a dependent on his parent's return. He had $150 in interest income and wages of $7
Korvikt [17]

Answer: B - $7,150

Explanation: Standard taxation is an option by IRS to reduce an inidvidual taxable income. this is subject to an individuals filling status.

Phil who is aged 20, single and who can claim a dependent on his parents tax filling return. As of 2019, his standard tax deduction is limited to his earned income plus $350.

According to the above question, Phil earns $7,000 as wages plus $150 in interest income.

From the above information, Phil has a standard tax of $7,150.

3 0
3 years ago
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