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3 years ago

14

Which account option may require larger money contributions than usual but offers a higher interest rate than traditional saving

s?
Certificate of deposit
Checking
Money market
Saning

2 answers:

saul85 [17]3 years ago

7 0

Explanation: checkings

scZoUnD [109]3 years ago

6 0

Answer:

Money Market

Explanation:

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On November 2, 2020, Ellie purchased and placed in service a building that cost $5,600,000. An appraisal determined that 15% of

tia_tia [17]

Answer:

Ellie

A. The property is classified for 27.5-year MACRS since more than 80% of the gross rental income emanates from residential dwellings.

B. The life of the asset for this type of MACRS is 27.5 years.

C. Ellie's cost recovery for 2020/2018 is $28,848.

Explanation:

a) Data and Calculations:

Cost of building and land = $5,600,000

Appraised cost of land = $840,000 ($5,600,000 * 15%)

Appraised cost of building = $4,760,000 ( ($5,600,000 * 85%)

Rent from the bottom floor leased to a retail business = $80,000

Rent from the other floors as rental apartments = $350,000

Total value of rental income = $430,000

Retail business % of rental income = 19%

Residential apartments % of rental income = 81%

Cost recovery = $173,091 ($4,760,000/27.5) per annum

For 2 months, the cost recovery = $28,848 ($173,091 * 2/12)

8 0

3 years ago

A company estimates that warranty expense will be 2% of sales. The company's sales for the current period are $146,000. The curr

Vikki [24]

Warranty expense is the value associated with a faulty product repair, replacement, or refund. A warranty comes with a warranty duration in the course of which the seller or manufacturer of the good is in charge for any defects that can also appear all through the use of the product.

<h3 /><h3>Is warranty an amassed expense?</h3>

Expense Warranty (Accrual) approach – if the assurance is inseparable from the product being sold and guarantee charges are probably and can be fairly estimated, accrue these prices as a liability in the 12 months of sale.

<h3>When Should assurance fee be recorded?</h3>

Therefore, a corporation should report in the duration of the sale the estimated fee of repairing or changing the product at some point of the guarantee period. That expected price is recorded as a liability on its stability sheet and as an fee on its profits statement.

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2 years ago

1. Read the following scenario and answer the question in 5-10 sentences. You are an expert in the field of advanced laser techn

Greeley [361]

The possible management structures and key terms of any operating agreement that must be considered to form an LLC are related to responsibility sharing, as an LLC is a type of entity owned by its partners.

Some features of the LLC are:

Less formality.
Tax savings.
Flexible management.
Simple organizational structure.

Therefore, the LLC is a single hybrid entity, more streamlined than a corporation, with the advantage that this proprietorship has limited liability protection.

Management is also more flexible, with decision-making being possible to be shared among its members, regardless of hierarchy.

It is also important to highlight the taxes, as in an LLC the taxation is simpler, with the losses and gains being reported in the tax returns, which helps to offset the income.

So this is a more streamlined and protected form of partnership that can be managed by a group of members more securely than a corporation.

It has less formal requirements to exist, and in case of bankruptcy or debt, there is greater protection for each member's personal property, as in an LLC the debts and obligations cannot be greater than the initial capital invested in the company.

Learn more here:

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3 0

3 years ago

Do you think it is best to keep track of finances using a check register, a bank statement, or both? Why?

aalyn [17]

It is best to keep both a check register and then to reconcile your bank statement with your check register. That means you have recorded everything that has happened.

7 0

3 years ago

When a reasonable probability exists that the product will cause or lead to serious harm or even death, how is the FDA drug reca

Nuetrik [128]

Answer:

Class I recall

Explanation:

The Food and Drug Administration (FDA) classifies recalls into three categories:

Class I: products that may cause serious injuries or even death.
Class II: products that may cause serious injury or temporary illness.
Class III: products that are unlikely to cause serious injury or temporary illness, but still violate current FDA regulations.

4 0

4 years ago