Answer:
$4,500
Explanation:
Depreciation expense using the straight line depreciation method = (Cost of asset - Salvage value) / useful life
($32,000 - $5,000)/6 = $4,500
The straight line depreciation method allocates the same deprecation expense for each year of the useful life of the asset.
Therefore, the depreciation expense each year would be $4,500.
I hope my answer helps you
Answer:
$0
Explanation:
Given that,
Deposits = $100,000
Required reserve ratio = 25 percent
Total bank reserves = $25,000
Required reserve ratio refers to the ratio of deposits that are kept with the federal reserve.
Required reserves:
= Deposits × Required reserve ratio
= $100,000 × 0.25
= $25,000
Excess reserves:
= Total reserves - Required reserves
= $25,000 - $25,000
= $0
So, there is no excess reserves in this economy.
Money multiplier:
= 1/Required reserve ratio
= 1/0.25
= 4
Therefore, the total money creation potential of this deposit is zero.
Answer:
Jim could file as a head of household and qualify for higher deductions and earned income credit for one child.
Sally should file her taxes as a single filer since she has very low income so she falls under the first tax bracket, she can also file for earned income credit for one child.
Answer:
c) Statement of Net Position; Statement of revenues, expenditures, and changes in fund balances; Statement of Cash Flows
Explanation:
Proprietry funds are accounts that are part of governmental institutions and non profits organizations and these require a high standard of transparency and accountability, so they are require to provide to the government the next statements: tatement of net assets; a statement of revenues, expenses, and changes in fund net assets; and a statement of cash flows.
This is accordingly to the summary of statements N. 34 from the Governmental Accounting Standards Board.
Profit of 10,750. 91,750 - 81000= 10,750/
