Answer:
$513,110
Explanation:
The computation of the cost of the land is shown below:
= Purchase tract of land + demolished cost of old building - scrap of the building + title transfer cost + attorney fees + property taxes - amount covered the period
= $480,000 + $25,000 - $2,800 + $1,550 + $760 + $9,500 - $900
= $513,110
We simply applied the above formula
Answer:
D. 35.5
Explanation:
Times Interest Earned
Where EBIT = Earning before interest and taxes
In your assingment we have the Income before the income taxes, whgich means it is including the interest expense, we need to remove it:
EBT + Interest expense = EBIT
1,023,911 + 29,670 =1,053,581
Now we calculate the TIE
1,053,581 / 29,670 = 35.50997641 = 35.51 = 35.5
The company earns their interest 35.5 times.
Answer:
$51,300
Explanation:
Given that,
Assets require = $380,000
Return on the invested capital, ROE = 13.5%
ROE = Net income ÷ Total Equity
0.135 = Net income ÷ $380,000
0.135 × $380,000 = Net income
$51,300 = Net income
Therefore, the net income must be expected to warrant starting the business is $51,300.
Note: Since, all of the total assets are financed by the common stock.
Answer:
FICO Scores are calculated using many different pieces of credit data in your credit report. This data is grouped into five categories: payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%) and credit mix (10%).
Answer:
The American Opportunity Tax Credit (AOTC) that can be claimed is $2,500.
Explanation:
As of 2018, no changes have been made to the AOTC. By law, with a modified adjusted gross income (MAGI) of $80,000 or less for single individuals and $160,000 or less for married filing jointly, the individuals can claim the full credit amount. It is a credit paid for an eligible student to cover education expenses, if in the first four years of postsecondary education. A maximum annual amount of $2,500 is given and an additional 40% of remaining amount (up to $1,000) if the tax owed falls to zero.
