Answer:
I prepared an amortization schedule using an excel spreadsheet. The original monthly payment was $836.44. After the 120th payment, the remaining principal balance was $68,940.64. Since she didn't pay anything for 1 year, the new principal balance will be $68,940.64 x (1 + 8%) = $74,455.89
I prepared another amortization schedule for the remaining 9 years, and the monthly payment is $969.32. She will pay off the loan in 108 months.
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Answer:
The answer is: E) None of his salary can be excluded from gross income because Hank must reside overseas for the entire year
Explanation:
According to the IRS's Foreign Earned Income Exclusion (and Requirements) a US citizen can claim up to $105,900 (in 2019) of his gross income to be excluded from gross income in the US only if that person resided in the foreign country for at least 330 days in the last year.
Yes the large drug companies guilty of price gouging or of charging an unfair or exploitative price for their products and no <span>americans shouldnt be permitted to import drugs from canada or other countries</span>
Answer:
Credit to Prepaid insurance for $400 and Debit to Insurance expense for $400
Explanation:
The journal entry is given below:
Insurance expense ($4800 × 1 ÷ 12) $400
Prepaid Insurance $400
(To record insurance expense)
Here the insurance expense is debited as it increased the expense and credited the prepaid insurance as it decreased the assets
Answer:
$20,000
Explanation:
Distribution basis = $50,000
Stock basis = $30,000
Ordinary income = $10,000
To compute capital gain tax,
Capital gain = Distribution basis -Stock basis - Ordinary income
= $50,000 - $30,000 - $10,000
= $10,000
To compute J.D income related to Clampett;
= Ordinary income + Capital gain
= $10,000 + $10,000
= $20,000
