Answer:
Dr Land 397,950
Cr Cash 117,950
Cr Notes payable 280,000
Explanation:
Certain ordinary and necessary costs can be included in the purchase cost of land:
- cost of the land
- title fees
- applicable taxes
- legal fees
- broker fees
- survey costs
- leveling costs
- zoning fees
- etc.
In this case, the total purchase cost of the land = $110,000 + $280,000 + $1,400 + $650 + $5,900 = $397,950
Answer:
The correct answer is letter "B":You have to earn below a certain amount to make contributions .
Explanation:
A Roth Individual Retirement Account (IRA) is the type of retirement account where contributions grow tax-free and allows individuals to withdraw funds under certain conditions. <em>People are eligible to open a Roth IRA as long as their income is less than $139,000 for singles and $206,000 for married couples- </em>information that applies for the year 2020.
Answer:
$1,522
Explanation:
For computing the future value, first we have to determine the simple interest which is shown below:
= Principal × rate of interest × time period
= $1,000 × 5.8% × 9 years
= $522
Now the future value would be
= Principal amount + Simple interest
= $1,000 + $522
= $1,522
First, we simply applied the simple interest formula then we compute the future value by adding the principal amount and the simple interest
Answer:
Cost basis= $29,150
Explanation:
Cost basis refers to the initial purchase price of an asset that is used for tax purposes. It is the initial amount invested in an asset in addition to any commission's or fees.
Capital gains is the difference between the sale price and the the cost basis of an asset.
Tracking cost basis is necessary for determining the success of an investment and also for tax purposes.
We will sum the following to get the cost basis
Purchase price= $24,500
Shipping cost= $650
Paint= $1,000
Sales tax= $3,000
Cost basis= 24,500+ 650+ 1,000+ 3,000
Cost basis= $29,150
Answer:
A.early adulthood is the correct answer
Explanation:
Early adulthood is the stage that is characterized by personal independence, reproductive ability, the grown-up become self-sufficient, independent and they explore various life opportunities.
The goal of this time period is to establish careers, homes, families, expand the social network, fulfill the sexual needs.
There are different challenges of early adulthood such as parenting, stress, intimacy, different lifestyles, divorce, trauma, depression, and effect of relation on the health
