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DiKsa [7]
2 years ago
8

2020 Advanced Exam - Advanced Scenario 7: Travis and Sylvia Kennedy - Question 2 of 9. 21. The total taxable interest on Form 10

40 is $_____________. (Do not enter dollar signs, commas, periods, or decimal points in your answer.)
Business
1 answer:
vlabodo [156]2 years ago
6 0

Answer:

$140

Explanation:

Form 1040 is used to report IRS about the taxable income that U.S. tax payers has received. It is a form of Income tax in United States. The form must be filled and signed by 15th April every year.

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Tessa’s friend Milo offers her a ride home. Tessa does not like riding with Milo. He insists that everyone wear a seat belt, and
zalisa [80]

Answer:

the first one

Explanation:

its dangerous and against the law to text and drive

5 0
3 years ago
Read 2 more answers
1) Compute cash flows from financing activities using the above company information.
Varvara68 [4.7K]

Answer:

  1. $4,000
  2. $1,000

Explanation:

1. Financing Cashflows relate to cash spent or received for the capital used in the company. These include Equity, Long term borrowings and dividends. Interest payments go to the Operating Cashflow and investments go to the Investing cashflow.

Financing Cashflow is;

= Inflow - Outflow

= +20,000 - 16,000

= +$4,000

2. Investing Cashflows related to cash spent or received from fixed assets as well as the securities of other companies. Cash collections does not fall here but rather under Operating cashflows along with depreciation.

Investing Cashflow is;

= Inflow - Outflow

= +6,000 - 5,000

= $1,000

8 0
3 years ago
Stone and brick are substitutes in home construction. Consider the market for bricks depicted below. Suppose the price of stone
PSYCHO15rus [73]

Answer: Price of bricks will increase and quantity will increase.

Explanation: Since Stone and bricks are substitutes to each other, a rise in the price of stone due to the new regulation will lead to a rise in the demand for bricks. Since bricks are now relatively cheaper as compared to stones after the price rise, people will use more bricks than stones. This will shift the demand for bricks to the right driving upwards the price for bricks and also increase the quantity of bricks being sold in the market.

4 0
3 years ago
Read 2 more answers
Cheyenne Corporation owns machinery that cost $23,600 when purchased on July 1, 2017. Depreciation has been recorded at a rate o
maw [93]

Answer:

This question is incomplete. However, I searched the web and found a similar question that is asking to "Prepare journal entries to (a)update depreciation for 2021"

Explanation:

The general journal entries will be as follows;

From Jan 1st to Sept. 1st, there are 8 months of depreciation. If yearly depreciation is $2,832, it means that monthly depreciation is $236.Therefore, depreciation expense for the 8 months would be (8*236 = $1,888). For journal entry, you will debit depreciation expense and credit accumulated depreciation;

                                     Dr.                    Cr.

Depreciation             $1,888

    Acc. depreciation                            $1,888

5 0
3 years ago
Kelly inc. sold $930,000 worth of goods during the year, out of which $820,000 was on credit. accounts receivable at the beginni
vazorg [7]

Answer:

The accounts receivable turnover of Kelly for the year is 7.8

Explanation:

The formula for computing the accounts receivable turnover of Kelly for the year is as:

Accounts receivable turnover = Net Credit Sales / Average Accounts receivable

where

Net credit sales amounts to $820,000

Average accounts receivable formula is as:

Average accounts receivable = Beginning Accounts receivable + Ending Accounts receivable / 2

= $95,000 + $115,000 / 2

= $210,000 / 2

= $105,000

So, putting the values above as:

Accounts receivable turnover = $820,000 / $105,000

Accounts receivable turnover = 7.80

7 0
3 years ago
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