Answer: $5750 ; $6000
Explanation:
The amount of their deduction for interest paid on qualified residence acquisition debt will be the interest paid on the first mortgage of their home which is: = $5750
The amount of the deduction paid on qualified home equity debt will be calculated as:
= (100000/150000) × 9000
= $6000
Answer:
Corporation
Explanation:
According to my research on the different types of businesses, I can say that based on the information provided within the question Candy Emporium is considered to be a Corporation. This is because a Corporation is defined as a legal entity in which all assets and liabilities are separate and distinct from the people or person who founded the business. Which is why they are sometimes known as a "legal person" since they have all the rights and responsibilities as if they were an individual person. Since the description in the question is on par with the definition of a Corporation then we can say that this is what Candy Emporium is.
I hope this answered your question. If you have any more questions feel free to ask away at Brainly.
The definition of liquidity is how easily an investment can be exchanged for cash. Hope this helps!
Answer:
The journal entry to record the establishment of the fund on september 1 is:
1 September Petty Cash $ 470 Dr.
Cash $ 470 Cr.
31st September Office supplies, $95 Dr.
Merchandise inventory, $ 181 Dr.
Miscellaneous expenses $ 44 Dr.
Cash $320 Cr.
To reimburse Petty Cash
The journal entry to reimburse and to increase the fund are same .
October 1 Petty Cash $ 94
Cash $ 94
To increase the Petty Cash by $ 94
Answer: SMA Balance $40000
Explanation:
the Special Memorandum Account(SMA) Balance will remain at $40000 (1000 x $40). The SMA Balance does not decrease when the market value of the security decrease
