Answer:
$3,000
Explanation:
Mark's basis at the beginning of the year = $3,000
Mark's share of Wick's income = $2,000 x 50% = $1,000
the distribution of the truck = $5,000
Mark's taxable income = basis - share of profits - truck's basis = $3,000 - $1,000 - $5,000 = -$3,000, so Mark has to report a $3,000 income from this distribution.
Answer:
B. $24,000.
Explanation:
The computation of the depreciation per units under the units-of-production method is shown below:
= (Original cost - residual value) ÷ (estimated production units)
= ($180,000 - $20,000) ÷ (40,000 units)
= ($160,000) ÷ (40,000 units)
= $4 per unit
Now for the second year, it would be
= Production units in second year × depreciation per unit
= 6,000 units × $4
= $24,000
Answer:
decrease; increase
Explanation:
Because of the invention of the new technology which is the invention of the cotton gin, the production of the cotton boomed. This also means that the production of the cotton rise which as a result, would make the supplies higher and due to higher supplies, there would be reduction in the price of the cotton. Since, mentioned all factors remain constant which means demand remain constant, so
The equilibrium price of the cotton would be expected to decrease and the equilibrium quantity of cotton would be expected to increase.
Answer:
Credit to salaries payable of $364,500
Explanation:
There is important to undestand some vocabulary for business aproach.
A credit to salaries are the amount that the companies owed to their employees.