Answer:
given statement is false
Explanation:
given data
active income = $210,000
portfolio income = $45,000
passive activity loss = $230,000
deduct passive activity loss = $230,000
solution
as per Topic Passive Activities
we know that Losses and Credits in IRS state here that Loss from passive activity is not allowed for current year
and here this loss will be carry forward to the next taxable year
as a similar rule is applicable to give credits from passive activities
so that given statement is false
Answer:
$16,200 favorable
Explanation:
The computation of the total controllable cost variance is shown below:
= Budgeted overhead - actual overhead
= (40,000 units × $3.80 + $74,000) - $209,800
= ($152,000 + $74,000) - $209,800
= $226,000 - $209,800
= $16,200 favorable
Hence, the total controllable cost variance is $16,200 favorable
Answer:
$38,771.44
To achieve at least the 8% rate Walt can pay until this amount.
Explanation:
The goal would be to calcualte the present value for each cashflow using the expected rate of 8%
![\left[\begin{array}{ccc}-&Cash Flow&Discounted\\Year \: 1&12,500&11,574.0740740741\\Year \: 2&10,000&8,573.38820301783\\Year \: 3&7,500&5,953.74180765127\\Year \: 4&5,000&3,675.14926398227\\Year \: 5&2,500&1,701.45799258438\\Year \: 6&0&0\\Year \: 7&12,500&7,293.62994077667\\Total&50,000&38,771.4412820865\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccc%7D-%26Cash%20Flow%26Discounted%5C%5CYear%20%5C%3A%201%2612%2C500%2611%2C574.0740740741%5C%5CYear%20%5C%3A%202%2610%2C000%268%2C573.38820301783%5C%5CYear%20%5C%3A%203%267%2C500%265%2C953.74180765127%5C%5CYear%20%5C%3A%204%265%2C000%263%2C675.14926398227%5C%5CYear%20%5C%3A%205%262%2C500%261%2C701.45799258438%5C%5CYear%20%5C%3A%206%260%260%5C%5CYear%20%5C%3A%207%2612%2C500%267%2C293.62994077667%5C%5CTotal%2650%2C000%2638%2C771.4412820865%5C%5C%5Cend%7Barray%7D%5Cright%5D)
<em><u>For example year 3</u></em>
Then we add each cashflow, to get the present value of the project.
To achieve at least the 8% rate Walt can pay until this amount.
A. i think , hoped this helped
Answer:
See below
Explanation:
The journal entry for the issuance of the note proceed is shown below;
Cash A/c Dr $455,000
----------- To Notes payable A/c Cr $455,000
(Being the issuance as well as proceeds of the note that is recorded)
Cash account is debited because it is increasing and any increase in asset is debited. Also, the note will become payable which leads to increase in liability and an increase in liability is credited hence why note payable is credited.
• Note that other things like interest rate, duration are not considered because we were asked to pass the journal entry for the issues of notes not for any interest expense, reason why it was ignored.
