Answer:
Gross Income:
= Earned wages + Interest from savings + Interest on home mortgage
= 93,260 + 1,340 + 4,500
= $99,100
Adjusted gross income:
= Gross income - Tax deferred plan - State taxes
= 99,100 - 6,300 - 1,359
= $91,441
Taxable income
= Adjusted gross income - Personal exemption - Standard deduction - Charity contribution
= 91,441 - 3,500 - 7,800 - 2,500
= $77,641
Answer:
c. The net cash flow is positive.
Explanation:
A net positive balance occurs when the total cash inflow exceeds total cash outflows. Inflow is cash coming in, while outflow is cash leaving the business. In a business, sales represent cash inflows, while expenditure represents cash outflows.
In this case, the sales total to $1,600 while expenses are $1,490. The net cash flow is the difference between the inflows and the outflows. Here, the difference is a positive $110.
Answer:
36 years 4 months and 2 days
Explanation:
Data provided in the question:
Monthly payment = $300
Rate of return, i = 9% = 0.09
Future value = $1,000,000
Now,
we know
Future value = Monthly payments × ![\left[ \frac{(1+i)^{n}-1}{i} \right]](https://tex.z-dn.net/?f=%5Cleft%5B%20%5Cfrac%7B%281%2Bi%29%5E%7Bn%7D-1%7D%7Bi%7D%20%5Cright%5D)
or
1000000 = $300 × 
or
or
1.0075ⁿ - 1 = 25
or
1.0075ⁿ = 26
ln( 1.0075ⁿ) = ln(26)
or
n × ln( 1.0075 ) = ln(26)
or
n = [tex]\frac{ \ln (26) }{ \ln( 1.0075 ) }[tex]
or
n = 436.04 months
or
n = 36 years 4 months and 2 days
Answer:
A partnership's allocations of income and deductions to the partners are required to be proportionate to the partners' percentage ownership of partnership profits in order to meet the substantial economic effect tests.
True
Explanation:
Equity and equality must be put in place as a yardstick to allocate such which would bring a common ground for both parties.
The correct answer to this open question is the following.
Although there are no options attached we can say the following.
Why do businesses take financial costs into account other than social costs when making decisions.?
The reason why is because businesses are created to make profits. And financial costs directly impact sales, revenue, and profits. Any other consideration that does not directly affect the balance sheet or the bottom line, is not considered a priority and takes the back seat when business decisions are made.
On the other hand, the social cost should be important and it is, but not as important as the financial costs for the above-mentioned reasons.
Social costs are more on the side of the ethics of the managers or leaders of the organizations. And ethics and moral values are not a prominent thing to be considered in the decision-making process of modern corporations.
