According to the new tax regulation, the federal tax that is to be paid on $17,000 is $1,100.
Answer:
Explanation:
Dr Building, Asset (73,000+6000+35,000) 114,000
Dr Land, Asset (107,000+10,000) 117,000
Cr Cash (73,000+107,000+16,000+35,000) 231,000
Answer: Constant price and Current price
Explanation:
Real income and nominal income is calculated respectively at the constant price and the current price.
The constant prices has to do with the real values that has taken inflation into consideration. They are typically in real value.
The current prices are the prices of goods and services at a particular point in time. Current prices are typically in nominal value.
Therefore, the answer is option D.
Answer:
$120,000.00
Explanation:
Depreciable cost is the amount of money that can be depreciated over time from the value of an asset. It is the total book value an asset loses for being in production in its useful life. Depreciable cost is important is calculating the annual depreciation.
Depreciable cost is a result of the cost of an asset minus its expected salvage value.
In case case: $150,000- $ 30,000
=$120,000.00
Depreciable value is $120,000
