Answer:
The correct Ending Balance = $ 390300
Explanation:
Ending Balance of inventory = $ 412500
Less Office Supplies = $22,200
The correct Ending Balance = $ 390300
Goods already cosigned are the consignor's inventory unless they are sold. They are not included in the consignee's inventory. So they will be included in the ending inventory.The office Supplies are not the inventory goods. They are daily expense goods and are not included in the inventory.
Answer:
$1,241
Explanation:
For computing the net advantage to leasing first we have to determine the total cash flow from leasing and total cash flow from buying which is shown below:
For leasing:
Year Lease payment PVF at 5.8% Present value
1 $6,500 0.9452 $6,144
2 $6,500 0.8934 $5,807
3 $6,500 0.8444 $5,489
Total outflow $17,440
For buy:
Year Outflow or inflow PVF at 5.8% Present value
0 ($23,000) 1 ($23,000)
1 $1,610 0.9452 $1,522
2 $1,610 0.8934 $1,438
3 $1,610 0.8444 $1,359
Total outflow $18,681
Now the net advantage to leasing is
= Buy outflow - leasing outflow
= $18,681 - $17,440
= $1,241
Answer:
(a) His AGI is $103,300.
$2,000 since only one of your daughters qualifies for the child tax credit (must be under 17 at year end).
(b) His AGI is $426,200.
$2,000 - (27 x $50) = $2,000 - $1,350 = $650
For 2018, the income threshold to qualify for the child tax credit increased to $400,000, and it starts to fade away up to $440,000. It phases out $50 per each $1,000 of additional AGI.
(c) His AGI is $428,900, and his daughters are ages 10 and 12.
($2,000 x 2 children) - (29 x $50 x 2 children) = $4,000 - $2,900 = $1,100
Answer:
D. has its profits taxed as personal income.
Explanation:
Characteristics of a sole proprietorship :
1. It Is Owned by one person
2. The onwer has an unlimited liability.
3. It doesn't usually have an unlimited life. It usually ends with the death of the owner.
4. Profits are taxed as personal income.
5. It is very easy to form. It requires little legal cost.
Answer:
$1,103.56
Explanation:
In this question, we use the PMT formula that is shown in the attachment. Kindly find it below:
Provided that
NPER = (82 - 66) × 12 = 192
Present value = $136,000
Future value = $0
Rate of interest = 6% ÷ 12 months = 0.5%
The formula is shown below:
= PMT(Rate;NPER;-PV;FV;type)
The present value come in negative
So, after solving this, the monthly payment is $1,103.56
