The right answer for the question that is being asked and shown above is that: "TRUE." Expenses of education to improve or maintain existing skills are deductible as a miscellaneous itemized deduction even if the education incidentally leads <span>to qualification in a new job or business. </span>
Answer:
present value = $9320.06
Explanation:
given data
cash flow 1 year C1 = $500
cash flow 2 year C2 = $1000
pay 3 year C3 = $800
interest rates r = 10 percent per year = 0.10
solution
we get here present value that is
present value = 
....................1
put here value and we will get
present value = 
present value = $9320.06
Answer:
It will take 11 years and 124 days.
Explanation:
Giving the following information:
Isaac only has $1,090 today but needs $1,979 to buy a new computer. Interest rate= 5.4 percent compounded annually
To calculate the number of years, we need to use an alternative formula of the future value formula.:
FV= PV*(1+i)^n
Isolating n:
n=[ln(FV/PV)]/ln(1+r)
n= [ln(1,979/1,090)] / ln(1.054)
n= 11.34 years
<u>To be more accurate:</u>
0.34*365= 124
It will take 11 years and 124 days.
Answer:
Product Lower of cost or market value
A $28
B $42
C $119
D $18
Explanation:
Particulars a b c d e f = d - c
Product Cost Replacement cost Estimated disposal cost Estimated selling price Normal profit in sales Ceiling
A $30 $28 $8 $44 25% $36
B $44 $42 $10 $54 20% $44
C $124 $119 $29 $210 30% $181
D $18 $15.4 $6 $30 20% $24
Product g = f - d × e h = middle value of b , f ,g i j = lower of I and h
Product Floor Designated market value Cost Lower of cost or market value
A $25 $28 $30 $28
B $33.2 $42 $44 $42
C $118 $119 $124 $119
D $18 $18 $18 $18
As we know that the inventory should be recognized at lower value of cost or market value and the same is considered
Answer:
The journal entry which is to be recorded for the dishonored note is shown below:
Explanation:
The journal entry which is to be recorded for the dishonored note is as follows:
Accounts Receivable A/c..............................Dr $2,075
Notes Receivable A/c...................................Cr $2,000
Interest Revenue A/c......................................Cr $75
Being the note which is received got dishonored
As the note got dishonored so the accounts receivable account will be debited against the notes receivable account and the account of interest revenue is also credited.
Working Note:
Interest revenue = Amount of notes receivable × Rate × Months / Total number of months
= $2,000 ×5% × 9/12
= $75
