1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Andru [333]
3 years ago
7

How much interest, if any, can jaxon deduct in year 0 if his business uses the cash method of accounting for tax purposes?

Business
1 answer:
kaheart [24]3 years ago
6 0
<span>Jaxon can deduct in year 0 if his business uses the cash method of accounting for tax purposes $750 under either cash or accrual method of accounting. Jaxon can only deduct two months of interest ([$4,500/12] Ă— 2) because prepaid interest is not deductible under either method of accounting.</span>
You might be interested in
President of the United States promises to produce more defense goods without any decreases in the production of other goods. Th
anastassius [24]

Answer:

The correct answer is option b.

Explanation:

A production possibilities frontier shows the maximum possible bundles of two goods that an economy can produce using its given resources and level of technology.  

Because of the scarcity of resources, the production of a good can be increased only by decreasing the production of the other good.  

It is possible to increase the production of a good without reducing the production of the other only if the economy is producing at a point below the production possibilities curve.

8 0
4 years ago
For observation to be a useful skill, what are 2 key points to avoid "cluttering" your mind with unimportant information?
julsineya [31]

When you observe information, it's important to make sure you aren't cluttering your mind with unimportant information. Unimportant information refers to anything that you are observing while learning that won't matter overtime or, doesn't directly pertain to your situation. Observation can only be a useful skill if what you are observing you remember and can do after watching on your own.

4 0
3 years ago
A manufacturer uses activity-based costing to assign overhead costs to products. Budgeted cost information for selected activiti
salantis [7]

Answer:

$35 per purchased order and $19.90 per square foot

Explanation:

The computation of the activity rates is shown below:

For Purchasing, it would be

= $175,000 ÷ 5,000 purchase orders

= $35 per purchased order

For factory, it would be

= ($34,500 + $74,950) ÷ (5,500 square foot)

= $19.90 per square foot

We simply divided the cost by the activity level and the same is applied for purchasing and for the factory

5 0
3 years ago
Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations:
Drupady [299]

Answer:

1. Cash will increase by $18,700 for the services to be rendered over the 12 months.

2. Cash will reduce by $64,000 for the legal service acquired.

3. No effect on cash as the transaction is on accounts.

4. Cash will decrease by $1,250 for the supplies purchased.

5. Cash will decrease by $6,000 for the dividends paid.

6. Cash will decrease by $20,000 due to operating expenses

7. no effect on cash

8. no effect on cash.

Explanation:

The business transactions recorded by Hart, Attorney at Law, These transactions have impact on the cash. The inflow and outflow of cash is recorded in the cash flow statement. Transaction no. 3, 7 and 8 will have no effects on cash balance of the company.

6 0
3 years ago
"Keeping track of securities owners for payment of interest or dividends is usually done by the company's"1. Treasure2. Broker3.
Vilka [71]

Answer:

The correct answer is 3

Explanation:

Transfer agent is the one who plays an important or vital role among the investor and the registrar of the company or business. They are those who closely maintain the account balances of the investor and make sure that the shareholders receive the dividends payment in the timely way.

So, the transfer agents of the company, keep or maintain the track of the securities owners for the payment of dividends or interest.

8 0
3 years ago
Other questions:
  • 4. Describe two methods you would use to find potential employees if you were in charge of advertising a job for a company. Expl
    14·1 answer
  • The subject has $8,000 pool and a $2,000 chimney but no porch. a comparable that sold for $199,000 has a $3,000 porch but no poo
    6·1 answer
  • If men and women respond dissimilarly to the marketing efforts for a root beer-flavored malt beverage, they are considered _____
    7·1 answer
  • A European call and a european put on a stock have the same strike price and time to maturity. At 10:00 am on a certain day, the
    9·1 answer
  • A supermarket runs an advertisement promoting a special offer of a $50 gift card to a local restaurant for all of their customer
    14·1 answer
  • A supply curve shows the relationship between the​ ______ and​ _____ when all other influences on selling plans remain the same.
    7·1 answer
  • Here were four items mentioned in today's homeroom session that are needed to achieve greatness. fill in the blank for the item
    14·2 answers
  • A category of assets that typically has zero in the Free Assets column in a Statement of Affairs is:
    9·1 answer
  • Text written for advertising and marketing campaigns is referred to as
    10·1 answer
  • What is micro environment​
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!