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larisa [96]
3 years ago
5

Which option best defines taxable income?

Business
1 answer:
Paha777 [63]3 years ago
7 0

Taxable income is The amount of your income, after it has been reduced by exemptions, deductions, and credits, that is used to calculate the tax you owe.

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The Nelson Company has $1,522,500 in current assets and $525,000 in current liabilities. Its initial inventory level is $395,000
Pie

Answer:

$308,750

Explanation:

Current ratio = Current asset / Current liabilities

To get the short term debt increase, to the value of current assets and current liabilities, an amount must be added whereas the result must be 2.2

1,522,500 + y / 525,000 + y = 2.2

1,522,500 + y = 2.2 × (525,000 + y)

1,525,500 + y = 1,155,000 + 2.2y

1,525,500 - 1,155,000 = 2.2y - y

370,500 = 1.2y

y = 370,500 / 1.2

y = 308,750

It therefore means that the maximum amount that should be borrowed to purchase the inventory is $308,750

5 0
2 years ago
The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and eddie has $10 to spend on both goods. the m
marysya [2.9K]

If peanuts cost .25 per bag, you would divide $10 by .25 to determine how many bags you are able to buy.

3 0
2 years ago
Alexandra wants to play soccer & also work at McDonald's. She cannot do both so she decides to play soccer. What is her oppo
Tanya [424]

Answer:

Opportunity cost is giving up the working at Mc Donald's

Explanation:

Opportunity cost is the term which is stated as the profit, value of something or the benefit which is given up for something in order to acquire or accomplish something else.

In this case, Alexandra wants to work at Mc D and play soccer. So, she decided to play soccer. Therefore, the opportunity cost is working at Mc Donald in order to play.

4 0
3 years ago
Specific barriers to entry for monopolistics​
egoroff_w [7]
Ans: These barriers include: economies of scale that lead to natural monopoly; control of a physical resource; legal restrictions on competition; patent, trademark and copyright protection; and practices to intimidate the competition like predatory pricing.
6 0
3 years ago
Brief Exercise 12-8 have a carrying Ayayai Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill
blsea [12.9K]

Answer:

Explanation:

Since the fair value of the division is less than the carrying value of the division so the loss on impairment is recorded

The journal entry to record the impairment of the goodwill is shown below:

Loss on impairment A/c Dr $30,000

                       To Goodwill A/c $30,000

(Being loss on impairment is recorded)

The computation is shown below:

= Carrying value - fair value  

= $300,000 - $270,000

= $30,000

4 0
3 years ago
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