Answer: The answer is provided below
Explanation:
Gross rental income = 4,000
Less: mortgage interest = (3500)
Less: Allocated Expense = (2000)
= 4000 - 5500
Net loss = (1500)
Since the house has been used for more than 10 days by April and Bob, the rental expense will be limited to the gross rental income that are in excess of deductions for the interest and taxes that are allocated to the rental use.
Therefore, option C is correct
2. Amount of only 10000 should be included in gross total income as the punitive damage recived.
Therefore, option B is correct.
Answer:
Retained Earnings: $ 100.000
Explanation:
Assets
Cash $190.000
Accounts Receivable $250.000
Net Furniture & Fixtures $200.000
Goodwill $180.000
Inventory 175.000
Land 305.000
TOTAL 1.300.000
Liabilities
Accounts Payable 260.000
Long Term Loan 340.000
Short Term Loan 200.000
Equity
Capital Surplus 100.000
Common Stock 300.000
Retained Earnings 100.000
TOTAL 1.300.000
INCOME STATEMENT
Sales 980.000
Costs -640.000
Depreciation Expense -40.000
Interest Expense -50.000
Earnings Before Taxes 250.000
Tax RATE -52.500
Net Income 197.500
Dividends : $ 97.500
Retained Earnings : $ 100.000
Answer:
$106,800
Explanation:
<em>The cost of land includes purchase plus all other costs necessary to bring and make it ready for the intended use. </em>
These costs include purchase cost, fees and commission associated with the purchase transaction.
Further more, included in the historical cost are the net demolition cost of old structure to prepare the land for use. Net cost here means cost of demolition less any incidental proceed from the old structure.
However, remember that land is not depreciated because it has an infinite life span.
So using the historical cost principle the cost of the land
= $96800 + $3700 + $7500 - 1,200
= $106,800
Answer:
Ethical impact statement.
Explanation:
An attempt to assess the underlying moral justifications for corporate actions and the consequent results of those actions are contained in ethical impact statement. It is typically used by an organization and its shareholders to assess the underlying moral justifications for corporate actions and the consequent results of those actions in order to be in tandem with its mission, goal and objectives.
Answer:
Explanation:
a. In a regression equation expressed as y= a + bx, how is the letter b best described?
Here, b is the slope and best described as the estimate of the cost when there's a visit of an additional customer.
b. How is the letter y in the regression equation best described?
The letter y is the observed store cost for that particular month.
c. How is the letter x in the regression equation best described?
The letter x is the observed customer visit for that particular month.
d. Based on the data derived from the regression analysis, what are the estimated costs for 370 customer-visits in a month?
The estimated cost for 370 customer visit will be:
Y = a + bx
where,
a =$1496
b = $2.08
x = 370 customer visit
Y = $1496 + ($2.08 × 370 customer visit)
= $1496 + $769.6
= $2265.6
e. What is the percent of the total variance that can be explained by the regression equation?
The percent of total variance which the regression equation explain will be:
R2 = 0.86814 or 86.814%