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lesya [120]
4 years ago
7

Herbert was employed for the first six months of 2017 and earned $90,000 in salary. during the next six months, he collected $8,

800 of unemployment compensation, borrowed $12,000 (using his personal residence as collateral), and withdrew $2,000 from his savings account (including $60 of interest). he received dividends of $550. his luck was not all bad, for in december, he won $1,500 in the lottery on a $5 ticket. calculate herbert's gross income.
Business
1 answer:
Studentka2010 [4]4 years ago
8 0

Answer: Herbert's gross income is $100,910.

We include Herbert's salary when he was employed, unemployment compensation, dividends and winnings from lottery while calculating gross income.

We don't include his withdrawal from savings accounts, but we consider the $60 interest he earned on his savings account.

We also don't include any loans that he's taken in computing gross income.

So, Herbert's Gross Income will be:

Salary                                                     90000

Unemployment benefits                     + 8800

Dividends                                            +   550

Winnings from lottery                            + 1500

Interest earned on savings account    +    60

Gross Income (Total)                           100910



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Answer: One of what is necessary in product marketing is identifying the industry and the sector that uses this product. The company doesn't sell direct to consumers and considering the components of the tea, I would recommend a plan that targets the health industry.

Explanation:

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The strategic plan would mapping out health agencies that are in my town, draft out magazines, fliers about the product, so that anyone who comes across them can read them. After these health agencies have been visited, we track down the progress of how they are receptive to using the products and how their clients are responding to them

7 0
3 years ago
Archie Co. purchased a framing machine for $45,000 on January 1, 2021. The machine is expected to have a four-year life, with a
swat32

Answer:

depreciation for 2021 is $ 18,000

book value at December 31, 2021 is $ 27,000

Explanation:

Sum of Digits Method is a depreciation method that provides for higher depreciation to be charged early in the life of an asset with a lower depreciation in later years.

Sum of digits for the  framing machine is calculated as follows :

Year                                           Sum of Digits

1                                                          4

2                                                         3

3                                                         2

4                                                          1

Total                                                   10

<u>Depreciation for 2021 is calculated as :</u>

= 4/10× $ 45,000

= 18,000

<u>Book value at December 31, 2021 is calculated as :</u>

=Cost - Accumulated Depreciation

=$45,000 - $ 18,000

=$ 27,000

4 0
3 years ago
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AURORKA [14]
The answer would be D or C
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3 years ago
Once the adjusting entries are posted, the adjusted trial balance is prepared to a.verify the correct flow of accounts into the
Sauron [17]

Answer:

d. verify that the debits and credits are in balance.

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Option C is wrong because whether the adjusting entries are posted or not, net income will always go to the statement of owner's equity.

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3 0
4 years ago
When taxes increase, consumptiona. decreases, so aggregate demand shifts left. b. increases, so aggregate demand shifts right. c
LenKa [72]

Answer:

a. decreases, so aggregate demand shifts left. 

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When tax is increased, disposable income reduces and therefore consumption falls. The fall in consumption shifts the aggregate demand curve to the left.

I hope my answer helps you.

7 0
3 years ago
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