Answer:
c. discretionary income.
Explanation:
There are various incomes which are explained below:-
a. Net Income: The income which is calculated after considering all expenses is called gross income.
b. Disposable income: The income which is computed after deducting the tax expenses is known as disposable income. It is not meant for basic necessities that means it considered only tax expenses.
c. Discretionary income: The income which is computed after considering the income, government taxes, other business expenses and day to day expenses is called discretionary income.
d. Gross income: The income which is calculated before considering all expenses is called gross income.
e. Earned income after taxes: The income which is earned after deducting the tax expenses is called earned income after taxes.
In the given situation, the most appropriate option is C.
Answer:
Explanation:
The preparation of ta static budget report for the second quarter is shown below:
CROIX COMPANY
Sales Budget Report
For the Quarter Ended June 30, 2017
Second Quarter Year to date
Product Line Budget Actual Difference Budget Actual Difference
New Guitar $383,500 $387,400 $3,900 $700,200 $690,500 $9,700
Favorable Unfavorable
The year to date balances are computed below:
For Budget:
= $383,500 + $316,700
= $700,200
For Actual:
= $387,400 + $690,500
= 690,500
Answer and Explanation:
The journal entry are as follows
1. Interest expense $214,650
To Cash $214,650
(Being the first interest payment is recorded)
The computation is shown below
= $4,770,000 × 9% × 6 months ÷ 12 months
= $214,650
For recording this we debited the interest expense as it increased the expenses while on the other hand the cash is paid which reduced the cash balance so it is credited
2. Cash $530,000
To Bond payable $530,000
(Being the cash sale of bond is recorded)
For recording this we debited the cash as cash is received that increased the cash balance and at the same time we credited the bond payable
Answer:
easy
Explanation:
1. address
2. greeting
3. reason for this letter
4. in 2 paragraph state what u want
5. conclusion
6. end greeting
Answer:
$40,000
Explanation:
We can calculate recognized gain on the transfer and basis for his stock just by deducting adjusted basis value from liability on the transfered real estate.
Calcuation
iability on the transfered real estate $300,000
less: adjusted basis value ($260,000)
Gain recognized $40,000
