Answer:
d) Sec. 179 deduction $900,000
Carryover $150,000
Explanation:
The amount of Susan allowable Sec. 179 deduction is $1,050,000 (cost of asset) but it is limited to her business income ($900,000)
Hence,
Sec. 179 deduction $900,000
Carryover $150,000
Answer:
$20,450
Explanation:
With regard to the above, the adjusted cash balance would be computer as;
= Bank balance + deposits in transit - outstanding checks
= $19,400 + $6,550 - $5,500
= $20,450
or
= Bank balance - service fees - NSF checks
= $21,525 - $70 - $1,005
= $20,450
Answer:
a. It will take her 5 years to pay for her wardrobe
b. She should shop for a new card once she is done paying for this one.
c. She should shop for a new card after finishing paying for this card since going further into debt with the current card would be a bad idea. This is due to the fact that an annual interest rate of 16% is very high. The best option would therefor to finish her payments on the credit card, then shop for a new card with a lower annual interest rate.
Explanation:
Use the formula below to determine the number of months it would take Rachel to pay off her debt;
C *{1-(1+r)^(-n×t)}/(r/n)=PV
where;
C=annuity
r=annual interest rate
n=number of compounding periods in a year
t=number of years
PV=present value
In our case;
PV=$10,574
C=$260
r=16%=16/100=0.16
n=12
t=unknown
replacing;
260*{1-(1+0.16/12)^(-12×t)}/(0.16/12)=10,574
1-(1+0.16/12)^(-12×t)={10,574×(0.16/12)}/260
1-{1.013^(-12 t)}=0.542
(1-0.542)=1.013^(-12 t)
ln 0.458=-12 t (ln 1.013)
t=-ln 0.458/12×ln 1.013
t=5
It will take her 5 years to pay for her wardrobe
b. She should shop for a new card once she is done paying for this one.
c. She should shop for a new card after finishing paying for this card since going further into debt with the current card would be a bad idea. This is due to the fact that an annual interest rate of 16% is very high. The best option would therefor to finish her payments on the credit card, then shop for a new card with a lower annual interest rate.
The closing cost of the house mortgage is lower than the envisioned by 0.5%.
<h3>What is the closing cost?</h3>
Closing expenses are the prices over and above the property's rate that consumers and dealers generally incur to finish an actual property transaction.
Those expenses may also encompass mortgage origination fees, cut price points, appraisal fees, name searches, name insurance, surveys, taxes, deed recording fees, and credit score file charges.
The lender is required by regulation to expose those expenses in the form of a mortgage estimate within 3 days of a domestic mortgage application.
Gifts of equity (actual property income given to a relative or close pal at a below-marketplace rate) can also incur a few closing cost.
So, from the above announcement, it's clear that alternative D, decreasing by 0.5%, is an appropriate answer.
Learn more about closing cost, refer to:
brainly.com/question/1084194
Answer:
D. 26,000; 23,000
Explanation:
Equivalent Units (Weighted Average Method) = Beginning Goods In process + Units Completed + Ending Goods x % of completion
Direct Materials: 5,000 + 15,000 + 6,000 x 100% = 26,000
Direct Labor: 5,000 + 15,000 + 6,000 x 50% = 23,000
Remember: In the weighted average cost system the opening inventory units count as a full equivalent unit of production.
