Answer:
The answer is:
If the gain resulting from selling their principal residence exceeds $500,000 for a married couple or $250,000 for a single filer.
The taxpayer doesn't qualify for the capital gains exclusion (e.g. maybe sold another property during the last year)
The taxpayer uses his principal residence for rental or commercial uses and depreciation may be allowed.
Answer:A safe deposit box, also known as a safety deposit box, is an individually secured container, usually held within a larger safe or bank vault. Safe deposit boxes are generally located in banks, post offices or other institutions. ... In the United States, neither banks nor the FDIC insure the contents.
Explanation:
Answer:
new technology.
Explanation:
An information system or technology can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products.
Generally, it is an integral part of human life because individuals, organizations, and institutions rely on information systems and technology in order to perform their duties, functions or tasks and to manage their operations effectively. For example, all organizations make use of information systems for supply chain management, process financial accounts, manage their workforce, and as a marketing channels to reach their customers or potential customers.
Additionally, an information system or technology comprises of five (5) main components;
1. Hardware.
2. Software.
3. Database.
4. Human resources.
5. Telecommunications.
Overtime, millions of software programs have been created and have helped to improve the economy. This is an example of new technology.
Basically, these new technologies have helped to simplify the process of producing goods and services effectively and efficiently to meet the unending needs and requirements of the consumers.
Answer:
Supplies Expense $ 950 Dr.
Supplies Account $ 950 Cr
To record supplies used .
Explanation:
Supplies are assets until they are used. When they are used up their costs are reported as expenses. The cost of unused supplies are recorded in a supplies asset account.
The entry above shows that supplies of $ 950 have been used up during the accounting period from the amount of $ 1385 leaving supplies of $ 435.
Not making an adjustment entry on 31 Dec would underestimate expenses and overstate net income.
The waiting time at which 10 percent of the people would continue to hold is given as 2.3
<h3>How to solve for the waiting time</h3>
We have to solve for X ~ Exponential(λ).
then E(X) = 1/λ = 3,
= 0.3333
Remember that the cumulative distribution function of X is F(x) = 1 - e^(-λx). ; x is equal to the time in over case
For 10 percent of the people we would have a probability of
10/100 = 0.1
we are to find
P(X ≤ t)
= 1 - e^(0.3333)(t) = 0.1
Our concern is the value of t
Then we take the like terms
1-0.1 = e^(0.3333)(t)
1/0.9 = e^(0.3333)(t)
t = 3 * ln(1/0.9)
= 0.3157
