Answer:
loss = $150 personal use it cannot be offset and not deductible
gain = $300 seller have option to chose capital gain tax or include gain with income paying proper amount tax as per tax bracket
Explanation:
given data
sells scooter = $550
3 year ago purchased scooter = $700
sells a painting = $1,200
five years ago acquired = $900
solution
we know that here sale of scooter is results in loss that is
loss = $700 − $550
loss = $150
and we know loss from sale of property undertaken for personal use is not recognized so for personal use it cannot be offset and not deductible here
and
for painting sale it results in gain that is
gain = $1,200 − $900
gain = $300
and selling painting is acquire more than 1 year
and here sale cost is more than acquire cost
so seller have option to chose capital gain tax or include gain with income paying proper amount tax as per tax bracket
Answer:
B. is often used by small companies and companies with few receivables
Explanation:
As there is no a high amount of customer accounts, and the business is small the distorsions generates by the direct method are not as high as in a large business
D false. the direct method violates the matching principles as the bad debt expense is associate with a revenue of a prior period.
A and C false. the direct method do not calcualte any allowance, therefore it do not emphasizes any method of receivables metric.
Vernon produces and sells only 6,100 bikes each year. Due to the low volume of activity, Vernon is unable to obtain the economies of scale that larger
<h3>What is
bikes?</h3>
A bicycle, also known as a pedal cycle, bike, or cycle, is a single-track, human-powered or motor-powered assisted vehicle with two wheels attached to a frame, one behind the other. A cyclist or bicyclist is someone who rides a bicycle. Bicycles were first introduced in Europe in the nineteenth century.
Infants under the age of 12 months should not be carried on a bicycle and should not sit in a rear bike seat. Infants should not be carried on a bike in backpacks or front carriers. It is not advised to leave babies in slumped positions for extended periods of time.
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Answer:
Within a country and divided by the entire population.
Explanation:
GDP per capital is the quantity of goods and services produced in a given country divided by its population. Thus, there is the internal production per person, that is, the amount of goods and services per person that a given economy produces. It is an important indicator of a country's economic development.