Answer:
Interest receivable 480 Interest revenue 480
Explanation:
The adjusting entry is shown below:
Interest receivable Dr 480 ($9,000 × 8% × 8 months ÷ 12 months)
To Interest revenue 480
(Being the interest receivable is recorded)
The interest receivable is debited as it increased the assets and credited the interest revenue as it also increased the revenue
The eight months are considered from May 1,2018 to December 31,2018
Answer:
Owners Equity/Net Worth is $106,080
<u>Explanation:</u>
<u>Assets</u>
Cash $33,700
Supplies $5,780
Accounts Receivable $12,600
Equipment <u>$77,400</u>
Total Assets <u>$129,480</u>
<u>Liabilities</u>
Accounts Payable $23,400
<em>Owners Equity (Balance) </em><u><em>$106,080</em></u>
Total Liabilities and Equity <u>$129,480</u>
The answer is 4, purchase a product based on a social media influencer.
this would not be an informed purchase
Answer:
a. Is Catherine eligible for the foreign income exclusion for 2020?
Yes
b. Catherine may exclude <u>$45,104</u> from her gross income for 2020.
Explanation:
In order for Catherine to qualify for the foreign income exclusion, she must have lived in a foreign country for at least 1 one (physical presence test). She lived for more than 1 year if we combine her residence in Germany and Slovenia.
The foreign income exclusion amount for 2020 is $107,600, and Catherine can exclude up to (153 days / 365 days) x $107,600 = $45,103.56 ≈ $45,104.
<span>a contractionary fiscal policy that will shift the aggregate demand curve to the left by an amount equal to the initial change in investment times the spending multiplier.</span>