Yes, the Smith family will receive financial benefits for the taxable year. When you adopt a child, there are parts of the adoption process that are tax write offs for the family. Depending on the money spent, the different fee's paid and what all went into the adoption certain parts will be a tax credit they can apply and use as a deduction. Most of the time the expenses have to be at or over a percentage of your income.
<u>Solution and explanation:</u>
<u>Given data:
</u>
Ask price: 98.4062, bid price: 98.2812, par value of the bond: $10,000
<u>The following formula is used in order to calculate the actual value of the bond
</u>
The ask price will be used while calculating the actual value of the bond and the par value of the bond will be used
Ask price will be multiplied with par value of the bond and divided by 100
= $9840.62
Therefore, the par value as per the above calculation is $9840.62
Answer:
$7,986
Explanation:
To calculate the equivalent annual cost for 5 year period at an interest rate of 10% per year we need to go through some minor calculations first.
DATA
Cost in first year (A) = $10,000
Decrease in cost each year after the first year (G) = $560
Interest rate = 10%
Time period = 5 years
Solution
EAC = A - G (A/G, i, n)
EAC = $9,000 - $560(A/G, 10%, 5)
EAC = $9,000 - ($560 * 1.8101)
EAC = $9,000 - $1,013.656
EAC = $7,986
Answer:
$175,000
Explanation:
Conversion costs are production costs that must be incurred in order to change raw materials into products.
Therefore, we have:
Total of the conversion costs = Cost of clay used in production + wages paid to the workers who paint the figurines = $76,000 + $99,000 = $175,000