Comprehensive Problem. Bill is a cash-basis, calendar-year taxpayer. Which of the following December items result in gross income or deductions for the current year? a. Check received for December rent, $700, not deposited until January 4 b. Check for $1,100 to pay Bill's state income taxes mailed December 28, cashed January 7 c. Cash received in the amount of $500 for services to be rendered the following year d. Interest of $800 credited to his savings account, added to Bill's account balance e. Check received for January rent, $700, deposited on January 9 f. Charitable contribution of $300, charged on Bill's MasterCard g. Bills totaling $2,000 sent for services rendered during the year, uncollected as of year-end
You are given a choice of taking the simple interest on 100,000 invested for 2 years
You are given a choice of taking the simple interest on 100,000 invested for 2 years at a rate of 3% Or the interest on 100,000 invested for 2 years at an interest rate of 3% compounded quarterly.Which investment earns the greater amount ofinterest? Give the difference between the amounts of interest earned by the two investments.The investment with -----------interest earns $________more interest ((Round to the nearest Cent as needed) Karen Gaines invested $10,000 in a money market account with an interest rate of 1.75% compounded semiannually. Six yearslater, Karen withdrew the full amount to put toward the down payment on a new house. How much did Karen withdraw from the account? Karen withdrew $ . (Round to the nearest cent as needed.) Click here to download the Solution
Comments
Post a Comment