Answer:
0
Explanation:
Because she is a chronically ill individual, Julia may exclude the full amount she receives as it is less than the amount of actual expenses and the daily limitation of $300 established by law.
That's why the taxable amount is 0.
Answer:
$710,000
Explanation:
A flexible budget is a type of budget that changes in relative to the volume of output
<u>Workings</u>
Monthly Fixed manufacturing cost - $50,000
Variable cost /Ton - $12
Production in March -55000
Variable cost of production in March - $(12*55000) = $660,000
Total manufacturing cost = Fixed cost + Variable cost
$660,000 + $50,000= $710,000
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Answer:
b. how much wealth people want to hold in liquid form.
Explanation:
Money demand refers to the amount of liquid assets or wealth, which can be quickly converted to cash, an individual desires hold at a particular point in time, which enables the individual to easily carry out transactions such as exchange of goods and services. It is simply referred to as the desire of people to hold cash. It does include illiquid physical assets that cannot be quickly converted to cash. It includes cash or bank deposits.
Answer:
Time period from September 1 - December 31 is 4 months and this means that the tenant has occupied the place for 4 months. Hence, 4 months rent would be accrued.
12 Month rent amount = $24,000
Per month rent amount = $240,00/12 month = $2,000
So, Rent for 4 months = 4 month * $2,000 = $8,000
Adjusting Entry
Date Account titles Debit Credit
Dec 31 Unearned Rent Revenue $8,000
Rent Revenue $8,000
