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nalin [4]
3 years ago
13

Calculate the Accounts Payable balance. ​(Enter the​ balance, along with a​ "Bal." reference on the correct side of the​ T-accou

nt.)
Business
1 answer:
MA_775_DIABLO [31]3 years ago
8 0

Answer:

$13,000

Explanation:

Calculation for Accounts Payable balance

Accounts Payable

DEBIT SIDE

Date Amount

May 02 6,000

May 22 11,500

TOTAL $17,500

ACCOUNT PAYABLE BALANCE $13,000

($30,500-$17,500)

TOTAL $30,500

($17,500+$13,000)

CREDIT SIDE

Date Amount

May 1 21,000

May 5 500

May 15 8,500

May 23 500

TOTAL $30,500

Therefore the Accounts Payable balance will be $13,000

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Pat's taxable income exceeds $157,500 and thus he is required to phase out his QBI deduction. The phase-out calculation is: a.Th
lesya692 [45]

Answer:

correct option is (a) The lesser of 50% of business wages or 25% of wages plus 2.5% of the unadjusted basis of qualifying property

Explanation:

As we know that when a single taxable income of the single filer is exceed by $157,000 by the $50000 or more, then their QBI must not exceed

so

  1. 50% of the taxpayer's share of W-2 wages paid in respect of a qualified trade or occupation
  2. 25% of such salary and 2.5% on a volatile basis immediately after acquiring the tangible depreciation asset

Qualified Business Income (QBI) exemption refers to taxable income recognized by a partnership, S corporations, LLC or sole proprietorship. This is below the line deduction that does not deduct your AGI, but it does reduce the amount of taxes.

6 0
3 years ago
In a perfectly competitive industry, influence over price is exerted by
tigry1 [53]

Answer:

(C) the forces of supply and demand

Explanation:

In a perfectly competitive industry, no single buyer nor seller will be able to influence prices thus marking the forces of demand and supply (the invisible hand) the determinant of pricing. Each buyer or seller will only account for a minute portion of total demand and supply thus making their influence of market price insignificant.

Options (A), (B) and (D) are incorrect as the largest firms, individual sellers and individual buyers do not influence pricing over price in a perfectly competitive market.

8 0
3 years ago
When traveling to another country you have the choice of paying for the stay when you book the reservation or when you check out
Digiron [165]

Answer and Explanation:

In the given situation, it is mentioned that while travelling to another country you have two choices for paying at the time of booking or at the time of checking out. Now at Jan the person made a reservation for staying at Italy and completed the stay as on April 30th so here the change in inflation would be matters whether it is increasing or decreasing. It is better to pay off at advances as there is a chances that the price could rise in near future

3 0
3 years ago
Which one of these is NOT collaboration?
Mazyrski [523]

Of all the items relating to collaboration, Independent practice is the odd one out as it is not one of the methods of collaboration.

See the explanation bellow

<h3>What is collaboration?</h3>

In simple terms, collaboration is a way of working with one or more persons on a project or a task, in essence, it reflects team work and team spirit encourages efficiency and good work output.

When a team consists of team members who collaborate effectively, one member can cover up for the shortcoming or the other.

Learn more about the collaboration here:

brainly.com/question/24345164

#SPJ1

7 0
2 years ago
What is true of representative money? Check all that apply
mixas84 [53]

Complete Question

What is true of representative money? Check all that apply.

A. It can be exchanged for a valuable good.

B. It was once the most common form of money.

C. It was used in systems involving a "gold standard."

D. It can be traded for a commodity such as silver.

E. It is made with precious metals or stones.

Answer to this Question:

A. It can be exchanged for a valuable good.

C. It was used in systems involving a "gold standard."

D. It can be traded for a commodity such as silver.

Yes, it is very much true that money can be exchanged for valuable goods. We can certainly buy goods in return for giving money. Different commodities can be purchased by exchanging it. This is very common method which you can see all around you now-a-days. Money can also be used to buy the gold. It means money's form can be changed in this particular way, the gold then can be traded in the same way as you can use money as we have mentioned in the option A. Money can also be traded directly for a commodity such as sliver or other precious metals as well. Money's main function in all of the valid options here will remain the same; Exchange, used to purchase another commodity by using it in its pure form or trading it indirectly in another form. Whereas it totally different from the Barter trade where people used different commodities as an exchange medium to buy another one.

7 0
4 years ago
Read 2 more answers
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