Answer:
$32,600
Explanation:
Calculation to determine her itemized deduction if she used the proceeds of the second loan to finish the basement in her home and landscape her yard
Using this formula
Itemized deduction =(Financing amount * 6 percent)+(Additional amount borrowed*interest rate of 8 percent)
Let plug in the formula
Itemized deduction=( $350,000 * 6 percent)+($145,000 *8 percent)
Itemized deduction=($21,000+$11,600)
Itemized deduction=$32,600
Therefore her itemized deduction if she used the proceeds of the second loan to finish the basement in her home and landscape her yard wi be $32,600
Answer:
The journal entry is made as follows;
Explanation:
Net Income $195,000
Salary of farmer ($80,000)
Net distributive income $115,000
Per partner share $115,000/2=$57,500
Income Summary Dr.$115,000
Farmer Capital Cr.$57,500
Taylor Capital Cr.$57,500
Answer:
$240,000
Explanation:
The computation of the gain to be recognized is shown below:
= Total Exchange value - net value
where,
Total exchange value equals to
= Fair value of equipment + cash received
= $480,000 + $120,000
=$600,000
And, the net value would be
= Estimated cost - accumulated depreciation
= $660,000 - $300,000
= $360,000
ow put these values to the above formula
So, the value would be equal to
= $600,000 - $360,000
= $240,000
The answer is False,in case of a difficult situation at work place the sender should never use email.
Explanation:
Email can be used to convey your message at workplace when:
- When you need to get in touch with a person who is not responding to your calls.
- When you need to contact someone who is located geographically in a different location.
- when the information you want to convey/share is not time sensitive(time bond)
- E-mails are used at workplace to convey electronic files such as word documents,spreadsheets.
- In order to disperse information to large number of people.
- When a written record for the communication is required(meeting reviews)
Answer:
Explanation:
The $ 150,000 per year to be paid each year for the next 10 years by Riley Company to Janet Anderson should be recorded as a deferred compensation liability. The present value of the annual payments should be calculated.