Answer: $1000
Explanation:
From the question, we are informed that Sally Eason put $4,000 in her deductible IRA this year and that Sally is in the 25 percent marginal tax bracket.
Based on the above information, the government contributed:
= 25% × $4,000
= 25/100 × $4,000
= 0.25 × $4,000
= $1000
Answer: FALSE
Explanation: Innovations is the term used to refer to the invention or creation of new things,new ideas,new ways to solving the problems of man or to understand things or issues.
The rate of Innovation after the restoration of the Gospel is more and better now when compared to the days prior to the restoration of the Gospel. People now understand the Gospels with better knowledge,the interpretation is good and correct now.
Answer:
as a footnote in financial statements or on the balance sheet
Explanation:
A loss contingency can be defined as the situation or occurrence in which there is uncertainty about an entity but that will be resolved when a/some future situation occurs or not.
Simply put, a loss contingency can be said to be loss of an entity that can be resolved later in future by the occurrence or not of an event.
When a loss can be reasonably estimated as seen from the question, it should be written as a footnote on a financial statement or on a balance sheet.
cheers.
Answer:
True
Explanation:
To illustrate how the sum-of-the-digits method allocates interest we can use a lease example:
You are the lessor and you will lease a machine during 4 years. The lease requires 4 equal payments of $100,000 at the beginning of the year. After the lease, the asset's salvage value = $0.
The asset's current value = $300,000, so total interests received = $100,000
Using the sum-of-the-digits method, you will allocate interest as follows:
- year 1 = 3/6 x $100,000 = $50,000
- year 2 = 2/6 x $100,000 = $33,333
- year 3 = 1/6 x $100,000 = $17,000
The largest portion of interests is allocated during the beginning of the loan.
