Answer:
Factoring fee = 2% * Account Receivable
= 2% * $3,400
= $68
Date Account Titles and Explanation Debit Credit
Cash $3,332
Factoring expenses $68
Account receivables $3,400
(To record the receipt of cash against the receivables)
Answer:
B. Thanks can have collection agencies seize part of the borrowers income
Explanation: I just got it right for a p e x
Answer:
Letter D is correct. It studies how organizations develop human strengths, foster vitality, and unlock potential
Explanation:
Positive Organizational Scholarship is a way for an organization to motivate and stimulate the capabilities of its employees. It is a way of identifying the strengths and weaknesses of each employee and encouraging them to improve their skills and developing new skills that will help them to succeed. joint result of the company.
Answer:
Mortgage interest of $7,875 and property taxes of $1,850.
Explanation:
A tax deduction can be defined as the total amount of money that one can deduct to lower their tax liability. More tax deductions always implies a reduced tax liability. In dealing with mortgage payments, tax deductions should be considered carefully to determine how much one tax one needs to pay. The following mortgage expenses are considered for deductions;
1. Mortgage interest
A mortgage interest deduction is a deduction that allows homeowners to subtract the interest on the loan they used to pay for the purchase, improvements or building of a home. In our case, Hilda and Hyatt are liable to a deduction of $7,875.
2. Property tax
In general, state and local property taxes are eligible to be deducted from the federal income taxes of a property owner. The only taxes that are deductible are state, local and foreign taxes levied for public welfare. They do not include services like home renovation and trash collection. The federal tax as of 2018 for property tax was capped at a total of $10,000. This means that any property tax value below $10,000 was eligible to a property tax deduction of that amount.
Answer:
$173,820
Explanation:
pretax financial income $616,000
- interest income on municipal bonds ($78,400)
+ depreciation ($67,200 - $50,400) = $16,800
+ fine for dumping hazardous materials $25,000
taxable income = $579,400
income taxes payable = $579,400 x 30% = $173,820
Fines are not tax deductible, and since depreciation for tax purposes is lower than accounting depreciation, you must add them. But since municipal bonds are not taxable, they must be subtracted.
