Answer:
it would be C the absolute change in the price level from one period to another.
Answer:
The correct answer is option D
Explanation:
The reason is that the inventory purchases are record at the cost not at the cost less discount value.
When the company gets the settlement discount it must be accounted for as decrease in purchases price not in quantity and must be credited with the discount received against the accounts payable.
Debit Accounts Payable 5,250
Credit Merchandise Inventory 105
Credit Cash 5,145
Answer:
$16,604
Explanation:
Calculation to determine Meghann's QBI deduction
Using this formula
Meghann's QBI deduction = Taxable income *Tax rate
Meghann's QBI deduction =$83,020 x 20%
Meghann's QBI deduction =$16,604
Therefore Meghann's QBI deduction is $16,604