Answer:
agents
Explanation:
Tourism uses agents to commercialize the travel packages.
Interest Expense
The cost of borrowing money is referred to as interest expenditure. Interest expenditure in the income statement might represent the cost of borrowing money from banks, bond investors, and other sources.
Main Content
$50
A note payable is a type of financial instrument. In this case, the note payable is due in three months. So, after one month, we will record the following interest on the note payable:
15000*4%*(3/12) = 150
For 1 month = 150/3 = 50
The note payable was sold on December 1, and we must calculate its interest on December 31, which is one month later. As a result, we will divide total interest 150 by 3. This will provide us with one month's interest.
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Answer:
$35,000
Explanation:
Given that,
Revenues earned:
cash = $32,000
on account = $18,000
Expenses incurred:
cash = $5,000
on account = $10,000
Net Income:
= Income - Expenses
= (Cash revenue + account revenue) - (cash expenses + Expenses on account)
= ($32,000 + $18,000) - ($5,000 + $10,000)
= $35,000
Therefore, the net income for the month of May is $35,000.
Answer:
Section 121 exclusion
Explanation:
In simple words, IRC section 121 requires a person to deduct up to $250,000 ($500,000 for dual filers) of profit from the selling (or exchange) of land that was purchased and utilized as a primary home for at minimum two of that five years preceding the sale. Thus, from the above explanation we can conclude that the correct answer is section 121 exclusion.
