Answer:
a. Transaction 1
It is not deductible so the Taxable income is $9,000
Transaction 2
It is deductible, taxable income would be;
= 13,500 * ( 1 - Tax)
= 13,500 * ( 1 - 20%)
= $10,800
b. Transaction 1
It is not deductible so the Taxable income is $9,000
Transaction 2
It is deductible, taxable income would be;
= 13,500 * ( 1 - Tax)
= 13,500 * ( 1 - 40%)
= $8,100
Answer:
the price of bonds will tend to
fall!
Explanation:
the price of bonds will tend to
fall!investment the price of bonds will tend to
fall!the price of bonds will tend to
fall!investment = depreciationinvestment = depreciationinvestment = depreciationthe price of bonds will tend to
fall!investment = depreciationinvestment = depreciationinvestment = depreciationinvestment = depreciationinvestment = depreciation depreciation
Answer:
b. debit to Accounts Receivable and credit to Sales Discount Forfeited for $120
Explanation:
The last payment of $12,000 it's without discount because was not made within the 10 days, so it's necessary to Debit Cash by $12,000 and reverse the accrual for the remaining $120 discount offered not applied.
The it's necessary to record this entry:
b. debit to Accounts Receivable and credit to Sales Discount Forfeited for $120
Answer:
C. $25,000
Explanation:
The interest charges on the account(margin) are based on the debit balance in the account. Also, credits that came as a result of short sales are usually not matched off against debits in the account, hence interest charges is based on the $25,000 debit balance.
Answer:
$14,400
Explanation:
The computation of the current book value of the machine is shown below:-
Value of the Machine two Years ago = $ 18,000
Annual Depreciation = Cost - Salvage Value ÷ Useful Life
= ($18,000 - 0) ÷ 10
= $ 1,800
Depreciation for two years = $1,800 × 2
= $ 3,600
The Current Book Value = Cost - Depreciation for two years
= $18,000 - $3,600
= $14,400
