B. the guests seated at the ends of the table
i hope this helps
Answer:
$30,000 of taxable income
Explanation:
Given:
Total amount paid = $65,000
Face value of life insurance policy = $100,000
Surrender value receive = $95,000
Note: The amount received from the life insurance policy is non-taxable income but if any gain happens from the surrender of the policy, the amount of gain will be taxable.
Computation of Taxable income:
Taxable income = Surrender value receive - Total amount paid
Taxable income = $95,000 - $65,000
Taxable income = $30,000
Answer:
b
Explanation:
Another definition:
It is the purchase price of an asset + the costs of operating the asset
Answer:
See explanation section
Explanation:
As there is a difference between the physical count of the inventory and actual Inventory count, it indicates that the merchandise inventory is either sold or wasted. However, for continuing the operation smoothly, it is assumed as sold. Therefore, the journal entry to record the sale is -
December - 31 Cost of goods sold Debit 45,000
($415,000 - $370,000)
Merchandise Inventory Credit 45,000
(To record the sale of merchandise: adjusted)
Answer:
The answer to the following question is $4000.
Explanation:
Dowdy which is a C corporation, has a total of $14,000 in capital gain, in which $8000 comes from sale of tract land and rest of $6000 comes from sale of stock. And the company also has a capital loss of $18,000. So here the company is having a long term capital loss of $4000 ( $18,000 - $14,000 ), and this C corporation can deduct this long term capital loss from their taxable income ( the year in which loss was incurred ) . If in a situation, loss is not deducted from this year , then it can be carried 3 years or 2 years or even 1 years back and if there is capital gain , it can be deducted from it.
