Answer:
1) the Direct Write-off Method and (2) the Allowance Method.
Explanation:
Answer:
Allison can maximize her tax benefits by taking the Lifetime Learning Credit which results in a $300 tax credit.
Explanation:
Education credit:
Allison doesn't qualify for the American Opportunity Tax Credit (AOTC) since that only covers the first four years of college and even if she never attended college before, she would need to be enrolled at least half time.
She qualifies for the Lifetime Learning Credit (LLC) but it only covers 20% of the first $10,000 of expenses, in this case = $1,500 x 20% = $300 benefit
Tuition and fees deduction:
Allison can deduct $1,500 from her gross income = $1,500 x 15% tax rate = $225 benefit
The rooftop package unit is composed of refrigerant
piping either in single circuit or multiple circuits. A single circuit system
is made up of one compressor, one condenser, one evaporator circuit, and one
metering device. This means that the refrigerant piping of a rooftop package
unit which do not contain refrigerant lines is field installed.
Therefore the correct answer is:
“No refrigerant lines are field installed”
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Answer: d. the investment should be reported at a value of $28,000.
Explanation:
Investments should be recorded at their fair value in the financial statements. If a loss is made but the company is still holding on to the investment then the loss is unrealized which is the case here.
When there is an unrealized loss, it is to be debited to the Unrealized loss account and credited to the investment account to show that it is reducing. This will then leave the balance of the investment account at the fair value which in this case is $28,000.
