income tax majorly they depend majorly on income tax
Answer:
Generally, you report any portion of a scholarship, a fellowship grant, or other grant that you must include in gross income as follows: If filing Form 1040 (PDF), include the taxable portion in the total amount reported on the "Wages, salaries, tips" line of your tax return
Answer:
a. $750
b. $750
Explanation:
The first thing to do is calculate the monthly interest as follows:
Monthly interest = Total interest ÷ 12 = $4,500 ÷ 12 = $375
The rent for two months in year 0 (November and December) = $375 × 2 = $750.
Prepaid expenses (January to October of year 1) = $4,500 - $750 = $3,750.
Decision:
Prepaid expenses is not deductible under either cash accounting method or accrual accounting method for tax purposes.
Therefore, Jaxon can deduct only $750 two months (November and December) relevant for year 0 under both cash accounting method and accrual accounting method.
The prepaid expenses of $3,750 is not deductible in year 0 but can only be deducted in year 1.
Answer:
the least cost rule
Explanation:
Imperfect markets are those where all the conditions for perfect markets don't exist. In perfect markets, the profit maximizing rule for hiring labor is that you will continue to add labor until marginal revenue product = marginal cost of labor. The same applies for capital or land which are the other factors of production.
But on imperfect markets, this is not that clear, the equation in this case would be:
least cost rule ⇒ marginal product of labor / marginal cost of labor = marginal product of capital / marginal cost of capital
Answer:
Total= 42,400 units
Explanation:
Giving the following information:
Houseman, Inc. anticipates sales of 43,000 units, 41,000 units, and 44,000 units in July, August, and September, respectively. Company policy is to maintain an ending finished-goods inventory equal to 30% of the following month's sales.
We will assume that the beginning inventory for July equals the 30% policy.
Production:
Sales for July= 43,000
Ending inventory= (41,000*0.3)= 12,300
Beginning inventory= (43,000*0.3)= (12,900)
Total= 42,400 units
