Answer:
accrued basis income: 14,300
cash basis income: 9,500
Explanation:
accrued: we reocgnize base on the time of transfer of goods and the expense are mathced when the period they occur.
revenues 33,700
operating expense <u> (19,400) </u>
net income 14,300
cash basis: we recognize based on the cash collection or disbursement:
collected from customer 25,900
paid expenses (13,600)
insurance paid <u> (2,800) </u>
net income 9,500
Answer:
greater than both the current yield and the coupon rate.
Explanation:
A discount bond is a bond that at the point of issuance, it's less than its face or par value.
When a bond is trading for less than its face value in the market, it's known as a discount bond.
The yield to maturity on a discount bond is greater than both the current yield and the coupon rate. This simply means that the coupon rate is usually lower than the yield to maturity of the discount bond.
Additionally, the yield to maturity can be defined as the bond's total rate of return required by the secondary market while the coupon rate is defined as the annual interest of a bond divided by its face value.
For instance, when a bond is issued at a par or face value of $5,000, at maturity the investor would be paid $5,000. But because bonds are being sold before its maturity, it would trade below its face value.
Hence, a bond with the face value of $5,000 could trade for as low as $4,800, thus making it a discount bond.
Answer:
The answer is option (b)$4,000
Explanation:
Solution
Given that:
Now
The income of George and Martha is =$119.650
For year 2019 child tax credit is $2,000 per dependent child subject to a minimum income of $2,500.
The Income limit for Married Jointly Filed is= $400,000.
Thus
They are eligible for $2,000 tax credit per child.
So,
Tax Credit = $2,000 * 2
= $4,000
Note: The AGI limit phaseout begins at $400000 for joint tax filers
You might be required to provide a social security number if you want to rent a car. This implies the correct answer is D.
A social security number is a number that is provided by the US government and issued to the citizens. The social security number can also be given to eligible residents if they apply for it. A social security number (SSN) contains nine-digit numbers and it serves many purposes.
<h2>Further Explanation</h2>
The social security number is used by the government to monitors your earnings and also to know the number of years that you have worked.
If as a retiree, you are entitled to get a social security disability income, the government of the United States will use the details regarding the contributions you make towards your social security.
This information is used to determine whether you are qualified to receive social security benefits and also to calculate how much you have contributed.
However, you will be required to provide your social security number in the following scenarios:
- When you need to apply for a federal loan
- When you need to apply for some kinds of public assistance
- When renting a car
- When you enroll in Medicare
- When you need to get a driver’s license and many more
LEARN MORE:
KEYWORDS:
- renting a car
- medicare
- social security number
- federal loan
- nine digits
Answer:
Debit Accounts Receivable, credit Allowance for Doubtful Accounts.
Explanation:
To record the collection of accounts receivable previously written off when using the allowance method, the first step is to debit Accounts Receivable, and then credit Allowance for Doubtful Accounts. This purpose of this to reverse the already written off amount.
The next step after that is to complete the entries by debiting Cash, and crediting the Accounts Receivable to record the cash collection in respect of previously written off accounts receivable.
