Answer:
For 2019, the maximum amount that any individual can elect for salary deferral treatment on a 401k distribution is the lesser between: 100% of their salary or $19,000.
in this case, Amber earns much more than $19,000, so the lesser amount would be $19,000.
If Amber contributes more than $19,000 to her 401k account, then she would have to pay taxes for the extra amount contributed.
When <u>cost of production increase </u> business firms will supply lower quantity of output
<h3>Effect of production cost on prices </h3>
When the cost of production increases, producers will tend to produce a lesser quantity of goods and services and this is cause an increase in demand over supply in the open market.,
An increase in demand without a corresponding increase in supply will cause the supply curve to shift to the left.
Hence we can conclude that When <u>cost of production increase </u> business firms will supply lower quantity of output
Learn more about shift in supply curve : brainly.com/question/23364227
#SPJ1
Answer:
$500,000 Axle Corporation's basis in the Drexel Corporation stock.
Answer:
The amount Laramie should record the purchase of land is <u>$6.2 million</u>.
Explanation:
The costs of a fixed asset refer to the purchase price and other relevant costs which are incurred in order to the location and working condition required to operate the fixed asset in way that it is intended.
The other relevant costs that are added to the purchase price to arrive at the cost of the fixed assets include professional fees, non-refundable taxes or levies, and among others.
If any trade discount or rebate is given, this will be deducted from the purchase price to arrive at the cost.
Any interest required to be paid on the delayed payment in order to reflects the time value of money are not part of the cost of the asset but expensed in the year they are incurred.
From the question, the land acquired is a fixed asset. Based on the explanation above, the total cost of the asset is $6.2 million. The interest from the 6% interest rate on the remaining $5 million will be part of the cost of the land but it will be expensed in the year they are incurred.
Therefore, the amount Laramie should record the purchase of land is <u>$6.2 million</u>.
