Answer:
d. $ 46,500
Explanation:
Particulars Amount Remarks
Interest income $15,000 Given
Qualified dividends $9,000 Given
Net capital gain $22,500 Given
Total $46,500
The maximum amount of Chen's Investment interest expense deduction for the year is $46,500
Answer:
b. cost
Explanation:
Assets are accounted for under IAS 16 Property plant and Equipment, IAS 38 Intangible assets and IAS 40 and 41 Investment property and Biological assets.
The historical cost principle requires that assets on initial recognition be recorded at cost. This cost is maintained even as depreciation is charged for the use of the asset.
The cost is then netted off the accumulated depreciation to get the net book value of the asset or the carrying amount.
Answer: 12.88%
Explanation:
The following information can.be inferred from the question:
Purchase price of share = $36.48
Dividend = $1.62
Selling price = $41.18
Capital gain = $41.18 - $36.48 = $4.70
Capital gain yield:
= Capital gain / Purchase price × 100
= (4.70 / 36.48) × 100
= 0.1288
= 12.88%
The accounting principles, assumptions, and constraints describes are identified as follows: A) 7, B) 6, C) 8, D) 9, E) 1, F) 4, G) 3.
<h3>What are Accounting Principles?</h3>
These are rules or laws that govern the reporting and recording of the financial information of a business.
7 - Expense Recognition Principle: This holds the rule of thought that expenses made ought to be recorded in the books or recognized in the same time frame as the revenue transactions they are related to.
3 - Monetary Unit Principle: This law indicates that if a transaction cannot be expressed in a currency, then it shouldn't be recorded. This means "in-kind" transactions and favors hold no place in proper Financial Bookkeeping practice.
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