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3 years ago

Individual Retirement Accounts (IRAs) allow people to shelter some of their income from taxation.

Business

1 answer:

Marina CMI [18]3 years ago

3 0

Answer:

A) True

Explanation:

An individual retirement account (IRA) can be regarded as tax-advantaged account which is been used by individuals in saving as well as investing for retirement. individual retirement arrangements is a term that is been used by Internal Revenue Service (IRS) to describe individual retirement accounts as well as annuities which is been used as

personal savings plans having a

tax advantages that can help to save money as regards retirement.

It should be noted that Individual Retirement Accounts (IRAs) allow people to shelter some of their income from taxation.

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A schedule of machinery owned by Waterway Industries is presented below:

Colt1911 [192]

Answer:

b. 8.94%

Explanation:

Cost Salvage Depreciable cost Life Depreciation

Machine X 593,000 40,000 553,000 14 39,500

Machine Y 816,000 82,000 734,000 10 73,400

Machine Z 301,000 61,000 240,000 6 40,000

1,710,000 1,527,000 152,900

Composite Rate = Total Depreciation/Total Cost

Composite Rate = 152,900 / 1,710,000

Composite Rate = 0.089415205

Composite Rate = 8.94%

3 0

3 years ago

Nominal GDP, Exports, and Imports

yKpoI14uk [10]

Answer:

Net Exports 2015 are - $471.4 billion.

Net Exports 2016 are - $552.1 billion.

Explanation:

The net exports for a country is the difference between the value of exports and the value of imports of a country over a certain period of time. The amount of net exports can be wither positive or negative depending upon the value of exports being in excess of the value of imports or not. The formula for net exports is,

Net Exports = Value of Exports - Value of Imports

Net Exports for 2015 = 2344 - 2815.4

Net Exports for 2015 = - $471.4 billion

Net Exports for 2016 = 2372.7 - 2924.8

Net Exports for 2016 = - $552.1 billion

6 0

3 years ago

S. Wang and T. Wu are partners with equal capital balances of $50,000 each. They agree to let J. Li invest $20,000 in their part

loris [4]

The journal entry to reflect the bonus to Wang will include a credit to Wang, Capital in the amount of $4,000

First step is to calculate S. Wang and T. Wu and J. Li capital amount

Capital=$50,000+$50,000+$20,000

Capital=$120,000

Second step is to calculate their new capital

New capital=$120,000*.10

New capital=$12,000

Now to determine Wang bonus amount we have to divide the capital equally between S. Wang and T. Wu

Bonus=($20,000-$12,000)/2

Bonus=$8,000/2

Bonus=$4,000

Therefore journal entry to reflect the bonus to Wang will include a credit to Wang, Capital in the amount of $4,000

Learn more about Partnership share of Capital here:

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3 years ago

You want employees to know that they can talk to retirement planning specialists. Which of the following statements is most like

eimsori [14]

It would have to be B

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3 years ago

A company in maine sends lobsters to france. what is this an example of?

katrin [286]

C exporting for Edgenuity

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4 years ago