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3 years ago

The costs incurred before opening a business

1 answer:

8 0

The expenditure incurred prior to the incorporation of an enterprise is to be considered as a pre-incorporation capital expenditure. The expenditure incurred prior to the 'setting-up of business' is to be considered as a pre-operative capital expenditure.

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Mickey and Jenny Porter file a joint tax return, and they itemize deductions. The Porters incur $2,300 in investment expenses. T

Veseljchak [2.6K]

Answer:

$3500 is deductible

Explanation:

The question is not complete . Please see the solution below :

The Investment Interest expense can be set off against Net Investment income ( Interest income - Investment expenses i.e $25000-$2000=$23000) to the extent and the remaining is carried forward to the next year. so here the investment interest expense is wholly set off against the interest income i.e $3500 is deductible

4 0

3 years ago

According to Mikey, the founder, Holden Outerwear does not manufacture its garments in the United States because of the: aplicat

wolverine [178]

Answer:

Explanation:

The complete question is mentioned in attachment. According to 2nd line and 2nd last line, option d is the ocrrect answer.

3 0

3 years ago

Write a program that calculates the minimum fixed monthly payment needed in order pay off a credit card balance within 12 months

salantis [7]

Answer:

monthly payment = (total amount owing+interest to be paid) / 12 months

Explanation:

Monthly repayments include the total amount owing on the credit card, plus the interest to be paid. This amount should then be divided into 12 monthly payments in order to get one constant amount to be paid each month for the 12 month period. We will assume there are no other factors affecting the amount, other than interest.

The formula to calculate the monthly repayments in the credit card is as follows:

(total amount owing + interest) / 12 months

For example, say the amount owing was $100 and the total interest to be paid was $20; the monthly repayment would be calculated as ($100+ $20) / 12 months. This would mean the credit card holder pays $120/12 = $10 per month in order to repay the debt.

6 0

3 years ago

A substantial revision of the income tax code that made business and personal tax returns much easier to complete would tend to

finlep [7]

Answer:

c. a decrease in the wage rate of accountants

Explanation:

As a result of the revision that makes personal tax returns much easier to complete, people would no longer need the services of accountants to calculate their tax returns. As a result, the demand for accountants would fall, all other things remaining equal.

The fall in demand would lead to a fall in wage rate of accountants

Please check the attached image for a graph explaining this concept

6 0

3 years ago

Paradise Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in uni

Reika [66]

Answer:

485,000 units

Explanation:

The computation of the number of units manufactured is shown below:

= Number of units sold + ending finished goods units - beginning finished goods units

= 515,000 units + 87,000 units - 57,000 units

= 485,000 units

Basically we added the ending finished goods units and deduct the beginning finished goods units to the number of units sold

7 0

3 years ago

The costs incurred before opening a business​

The costs incurred before opening a business