Answer: $3500
Explanation:
In the general rule section 117(d)(1), it should be noted that when calculating the gross income, the reduction in tuition isn't included.
Based on the above reasoning, Graham's gross income will not include the $5,000 tuition reduction that was offered by the chemistry department.
Therefore, the amount that Graham must include in his gross income will be $3500.
Answer:
The amounts to be recorded for the building and for Forman's Capital account are $80,000 and $60,000 respectively
Explanation:
According to the accounting principles, the fixed assets should be recorded at cost or market value whichever is lower
So, in the question, it is mentioned that the building has a market value of $80,000 so by $80,000 the building is recorded.
And, for the Forman's Capital account, the $60,000 should be recorded because we have to deduct the $20,000 building mortgage from the market value of the building so that the accurate value can be come.
Answer:
The answer is "
".
Explanation:
Variable cost net income
Less: Fixed overhead start
Add: Fixed overhead termination
Net revenue at cost of absorption 
Answer:
$89,000
Explanation:
Explanation:
Let the salary at the beginning be A
Interest increment is i = 4.15℅
Future value aimed for is F = $215000
Number of years is n=20
The formula for the future value of a present sum is given as
F = A(1+I)^n
215000 = A(1+0.0415)^20
215000 = A(1.0415)^20
Taking log of both sides
Log215000 = LogA + 20Log1.0415
LogA = Log215000 - 20Log1.0415
LogA = 4.95
Taking anti log of 4.95
We have that ;
A = $89,000
No definitely not
Is this an assessment question?