Answer: buying lobsters in Maine and selling them in Massachusetts. This action would decrease the price of lobster in Massachusetts.
Explanation:
A lobster in Maine is sold at $10 while the same type of lobster is sold at $30 in Massachusetts. People would make a profit when they buy the lobster at $10 I'm Maine and sell at a price lower than $30 in Massachusetts.
The lobster is cheaper in Maine, so the logical thing to do is to buy at w country where it is cheaper and sell at Massachusetts. This will help reduce the price in Massachusetts to a price lower than $30 and the seller makes profit.
Answer:
$228 billions
Explanation:
According to the scenario, computation of the given data are as follows,
We can calculate personal income by using following formula,
Personal income = Disposable Income + Personal Taxes
Where, Disposable income = $190 billions
Personal taxes = $38 billions
So, Personal Income = $190 billions + $38 billions
= $228 billions
Answer:
Insurance expense 2021 = $117900
Explanation:
The insurance expense for the year can be calculated by adding the value of the amount paid for insurance during the year in the value of prepaid insurance at the start of the year and deducting the value of the prepaid insurance at the end of the year. Thus, insurance expense for the year will be,
Insurance expense = Opening balance + Payment during the year - Closing balance
Insurance expense 2021 = 65400 + 103000 - 50500
Insurance expense 2021 = $117900
Since Wendy is using the ideas process to solve the process, the first step would always be to gather as much information as possible regarding this problem.
Since she has already done that, then, she needs to move on to the second step which is to use this information in order to identify the options and anticipate the results or the outputs of each option.
Answer:
b. $25,716
Explanation:
The total cost recovery Deduction is:
10-year property
MACRS cost recovery ($200,000×0.10) $20,000
7-year property
MACRS cost recovery ($40,000×0.1429) $5,716
Total cost recovery $25,716
Therefore, The total deductions in calculating taxable income related to the machines for 2017 is $25,716.