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maksim [4K]
3 years ago
10

Jordan operates a consulting business. He uses his personal credit card for both business and personal uses. The total finance c

harges paid for the year were $942. Jordan's total business charges on this card were 37% of all charges. What amount of interest expenses can be deducted on Jordan's Schedule C?
Business
1 answer:
dezoksy [38]3 years ago
5 0

Answer:

The amount of interest expenses can be deducted on Jordan's Schedule C is $348.54

Explanation:

Allowed expense = $942*37%

                              = $348.54

Therefore, The amount of interest expenses can be deducted on Jordan's Schedule C is $348.54

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Which trade bloc was created to encourage free trade and economiccooperation between Canada, Mexico, and the United States?
Vsevolod [243]

Answer:

B. NAFTA

Explanation:

North American Free Trade Agreement (NAFTA) is a regional agreement between the Government of Canada, the Government of the United Mexican States, and the Government of the United States of America that created a free trade zone.

NAFTA administers the mechanisms stipulated in the Treaty to resolve commercial disputes between national industries or the governments of the party countries in a timely and impartial manner.

8 0
3 years ago
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Assets that are not expected to provide benefits for a number of accounting periods are called __________.
kiruha [24]
Assets that are not expected to provide benefits for a number of accounting periods are called b. fixed assets
5 0
4 years ago
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After deciding to buy a new car, you can either lease the car or purchase it on a three-year loan. The car you wish to buy costs
elena55 [62]

Answer:

It would be better to buy the car.

Nominal 26,446.81 (break even resale price)

Explanation:

We solve the present value of the salvage value at 6% APR

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity  $28,000.0000

time  36.00

rate  0.00500

\frac{28000}{(1 + 0.005)^{36} } = PV  

PV   23,398.0577

Net present worth:

23,398.06 - 43,000 = 19,601.94

Lease option

PV of the monthly payment:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 505.00

time 36

rate 0.005

505 \times \frac{1-(1+0.005)^{-36} }{0.005} = PV\\

PV $16,599.8632

plus the 4,300 downpayment

present worth: -20.899,86‬

As the option from the purcahse gives a lower present worth it is preferable over the option to lease the vehicle

X - 43,000 = -20,899.86

X = 22,100.14

We have to look at which resale price the present value is equal to 22,100.14

PV \: (1+ r)^{time} = Nominal

Principal 22,100.14

time 36.00

rate 0.00500

22100.14 \: (1+ 0.005)^{36} = Nominal

Nominal 26,446.81

7 0
3 years ago
Managers at sprocket inc. have recognized declining sales on their water purifier and must make a decision about what to do. the
lina2011 [118]
I would say that they should test the water purifier with tap water and run it through the purifier and see if it is actually purifying the water and that way determine if it is performing as it should an if not correct it.
3 0
3 years ago
Public companies under the jurisdiction of the Securities and Exchange Commission are required by law to hire a certified public
Ostrovityanka [42]

Answer:

A. True

Explanation:

At the time of publishing the financial statements of the public companies under the jurisdiction of the Securities and Exchange Commission (SEC) is compulsory to hire the independent auditor or we can say Chartered Accountant (CA) so that he or she can assess the financial statement prepared by the public company whether it follows the  Generally Accepted Accounting Principles (GAAP) or not.

And, according to that the independent auditor given his or her qualified or unqualified opinion

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3 years ago
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