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3 years ago

In her study of real estate and inequality, graduate student shania looks for the "aspen effect." she is looking for:

1 answer:

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Aspen Effect is the outcome of increased economical inequality causing the middle class people to commute long distance for serving the socially wealthy people. In real state, Aspen denotes the wealthy communities and to meet their needs of service, people from service industry, most of them being middle class people and with low wage, travel back and forth. They commute long distance because the service provider simply cannot afford to live by renting or buying housing in the wealthy Aspen communities. Such long hours requirement of commute cause traffic congestion and other challenges. This effect was termed as Aspen Effect by the Cornell University Economics professor Robert H. Frank.

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Cedric Company recently traded in an older model of equipment for a new model. The old model’s book value was $252,000 (original

vfiekz [6]

Answer:

Explanation:

General Journal

Dr Cr

Equipment - new 348,000

Accumulated depreciation 300,000

Cash 68,000

Equipment - old 552,000

Gain 28,000

Workings:

Equipment – new ($280,000 + 68,000) = $348,000

Gain ($280,000 – 252,000) = $28,000

7 0

3 years ago

On September 12, Vander Company sold merchandise in the amount of $2,200 to Jepson Company, with credit terms of 2/10, n/30. The

Vlad1618 [11]

Answer and Explanation:

The Journal entry is shown below:-

Cash Dr, 1969.80 (2010 × 98%)

Sales discount Dr, 40.20

To Account receivable $2,010 ($2,200 - $190)

(Being the entry is recorded)

Here we debited the cash and sales discount as it increased the assets and we credited the accounts receivable as it reduced the assets

3 0

3 years ago

Suppose that the Town of Mapledale is considering hiring an additional firefighter. The expected benefit is estimated to be wort

Radda [10]

Answer:

(B) Hire the firefighter if the cost of the new firefighter is less than $75,000.

Explanation:

The city should hire the Firefighter only if the cost of new firefighter is less than $75,000.

Since $5 x 15000 residents = $75, 000.

Therefore it is still beneficial to hire a new firefighter if the cost is less than $75, 000

5 0

3 years ago

Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. In 2020, Betty had the

Alexeev081 [22]

Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. In 2020, Betty had the following income and expenses. You may assume that Betty will owe $2,562 in self-employment tax on her salon income, with $1,281 representing the employer portion of the self-employment tax. You may also assume that her divorce from Rocky was finalized in 2016 and that Betty itemizes her deductions this year.

Interest income $12,960

Salon sales and revenue 87,460

Salaries paid to beauticians 45,820

Beauty salon supplies 23,510

Alimony paid to her ex-husband, Rocky 6,550

Rental revenue from apartment building 33,200

Depreciation on apartment building 13,450

Real estate taxes paid on apartment building 11,540

Real estate taxes paid on personal residence 6,560

Contributions to charity 4,600

Required:

Determine the Betty's AGI value.Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. In 2020, Betty had the following income and expenses. You may assume that Betty will owe $2,562 in self-employment tax on her salon income, with $1,281 representing the employer portion of the self-employment tax. You may also assume that her divorce from Rocky was finalized in 2016 and that Betty itemizes her deductions this year.

Interest income $12,960

Salon sales and revenue 87,460

Salaries paid to beauticians 45,820

Beauty salon supplies 23,510

Alimony paid to her ex-husband, Rocky 6,550

Rental revenue from apartment building 33,200

Depreciation on apartment building 13,450

Real estate taxes paid on apartment building 11,540

Real estate taxes paid on personal residence 6,560

Contributions to charity 4,600

Required:

Interest income $12,960

Salon sales and revenue 87,460

Salaries paid to beauticians 45,820

Beauty salon supplies 23,510

Alimony paid to her ex-husband, Rocky 6,550

Rental revenue from apartment building 33,200

Depreciation on apartment building 13,450

Real estate taxes paid on apartment building 11,540

Real estate taxes paid on personal residence 6,560

Contributions to charity 4,600

Required:

Determine the Betty's AGI value

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3 years ago

Fractions or percentages computed by dividing one account or line-item amount by another are called a.returns. b.industry averag

Studentka2010 [4]

Answer:

Common size statements

Explanation:

A common size statement is when line items in a financial statement are shown as percentages of a common base figure. For example, line items are shown as percentages of value of revenue in the income statement.

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3 0

3 years ago

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