Answer:
Net Income $
Income before income taxes 3,860
Income tax expense <u>1,544</u>
Net income <u> 2,316</u>
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Explanation:
Net income is calculated as income before income taxes minus income tax expense.
Answer:
b. minimum prices are enforced
Explanation:
The manufacturer of certain products deals with their distributors by exploiting the market failures to negotiate ceiling and minimum prices with the threat of not purchase if the agreement is not validated.
This is done to prevent competition between reseller for the price. This makes the reseller profitable and therefore, the manufactured as well.
Answer:
Year 1 PV = 91,743.12
Year 2 PV =126,251.99
Year 3 PV = 154,436.70
Explanation:
<em>The present value of future sum is the amount that ought to be invested today at interest rate compounded annually to equal the sum at the end of a particular period.</em>
The present value of a future sum is given as follows:
PV = FV × PV (1+r)^(-n)
PV - present value
FV - Future value
r- interest rate
n- number of years
Year 1 PV = 100,000× 1.09^(-1) =91,743.12
Year 2 PV = 150,000× 1.09^(-2) =126,251.99
Year 3 PV = 200,000× 1.09^(-3) = 154,436.70
The down payment is an initial payment made when something is bought on credit. It usually depends on the type of house or any other form of object
Answer:
<u>Anna can deduct up to US$ 10,000, so she can deduct as an itemized deduction the payment of US$ 2,500 on real estate taxes she made.</u>
Explanation:
Any taxpayer can deduct real estate taxes on the federal income tax return. For 2019, the IRS says a taxpayer can deduct up to $10,000 ($5,000 if you're married filing separately) But limits apply and you have to itemize to take the deduction.
<u>Therefore, Anna can deduct up to US$ 10,000, so she can deduct as an itemized deduction, the payment of US$ 2,500 on real estate taxes she made.</u>
