Answer:
b. all development cost are expensed as incurred
"John is 17 years old and he earned $3,500 in a summer job. His grandparents just ..."John can contribute $3,500 to an IRA. This is further explained below.
<h3>What is IRA?</h3>
Generally, For those looking to save and invest for their retirement, an individual retirement account (IRA) is a kind of savings account that offers favorable tax treatment.
In conclusion, "John, who is just 17, worked all summer and saved $3,500. Just recently, his grandparents..." John has an annual IRA contribution limit of $3,500.
Read more about IRA
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Answer: B. $5,000 inventory, $0 accounts receivable
Explanation:
Daniel's basis in JRD is $21,000
Inventory fair value is $16,000
$21,000 - $16,000 = $5,000
Accounts receivable inside basis is $0.
Inside basis is basically each partner's tax basis in the partnership.
I think its either to balance available resources and expenses or to plan future income and spending
Answer:
Loan Amortization Table is attached with this answer, please find it
Explanation:
First of all we calculate the Loan Payment per period
Loan Payment per year = r ( PV ) / 1 - ( 1 + r )^-n
Loan Payment per year = 0.11 ( (102,049 - 40,000 ) / 1 - ( 1 + 0.11 )^-4
Loan Payment per year = $6,825.39 / 0.341269 = 20,000 per year
