Answer:
Mio's foreign earned income exclusion s $94,361
Explanation:
The foreign earned income exclusion limit for 2016 is $101,300
So, the foreign earned income exclusion based on days equals to
= Foreign earned income exclusion limit × (2016 days ÷ total number of days in a year)
= $101,300 × (340 days ÷ 365 days)
= $94,361
We assume 365 days in a year as it is not given in the question
Answer:
Dr Sale returns and allowance 500
Cr Account receivable 500
Dr Merchandise inventory 350
Cr Cost of goods sold 350
Explanation:
Since we were told that On October 4, Carr made a return of some of the merchandise in which the merchandize selling price was the amount of $500 while the cost of the merchandise returned was the amount of $350. This means that the Journal entry or entries in which Mutch must make on October 4 will be :
Dr Sale returns and allowance 500
Cr Account receivable 500
Dr Merchandise inventory 350
Cr Cost of goods sold 350
Answer:
Points along and inside the PPF (Production Possibilities Frontier)
Explanation:
PPC stands for Production Possibility Curve, which measures or evaluates the maximum output of the two goods and that is using the fixed amount of input.
The point on the curve states how much or amount of each good is to produced when the resources are shifted or moved from making more of one good or less of the other one.
Therefore, the attainable production points on the PPC are the points that are inside and along the production possibilities Frontier (PPF).