You receive a tax refund from the IRS if your tax liability is less than the tax you paid for a fiscal year. This means that the tax you owe is less than what you paid for your taxes. Another circumstance is when you are entitled to tax credits
Answer:
$4,455
Explanation:
The computation of total decrease in earnings (pretax) in Morris Dec. 31, 2021, income statement is given below:-
Interest expense upto 31 Dec 2021 = (Total present value of lease payment - Lease payment on July 1, 2021) × 6% × 6 ÷ 12
= ($58,500 - $7,500) × 6% × 6 ÷ 12
= $51,000 × 6% × 6 ÷ 12
= $1,530
Depreciation expense upto 31 Dec 2021 = Fair value of equipment ÷ Useful life × 6 ÷ 12
= $58,500 ÷ 10 × 6 ÷ 12
= $5,850 × 6 ÷ 12
= $2,925
So, the total decrease in earnings (pretax) in Morris Dec. 31, 2021, income statement = Interest expense upto 31 Dec 2021 + Depreciation expense upto 31 Dec 2021
= $1,530 + $2,925
= $4,455
The stylist would win. The contract modification is enforceable because it is supported by additional consideration for both parties--Sally gets the highlights that had not been included in the original contract for the cut, and the stylist gets the additional money.
D. Violates public policy
For Example: you can not enter into a payment arrangement for illegal drugs lol
In my opinion, I would say it is the interest rate.