Web12 de mar. de 2024 · On November 1 of year 0, Jaxon borrowed $50,000 from Bucksnort Savings and Loan for use in his business. In December, Jaxon paid interest of $4,500 relating to the 12-month period from November of year 0 through October of year 1. a) How much interest, if any, ... WebOn November 1 of year 0, Jaxon borrowed $50,000 from Bucksnort Savings and Loan for use in his business. In December, Jaxon paid interest of $4,500 relating to the 12-month period from November of year 0 through October of year 1. a. How much interest, if any, can Jaxon deduct in year 0 if his business uses the cash method
Answers: On November 1 of this year, Jaxon borrowed $32,000 …
WebOn November 1 of year 0, Jaxon borrowed $50,000 from BucksnortSavings and Loan for use in his business. In December, Jaxon paid interest of $4,500 relating to the12-month period from November of year 0 through October of year1. WebOn November 1 of this year, Jaxon borrowed $37,000 from Bucksnort Savings and Loan for use in his business. In December, Jaxon paid interest of $3,330 relating to the 12 … magali peltier
Answered: a) How much interest, if any, can Jaxon… bartleby
WebOn November 1 of year 0, Jaxon borrowed $50,000 from Bucksnort Savings and Loan for use in his business. In December, Jaxon paid interest of $4,500 relating to the 12-month … WebOn November 1 of this year, Jaxon borrowed $52,000 from Bucksnort Savings and Loan for use in his business. In December, Jaxon paid interest of $4,680 relating to the 12-month … Web27 de mar. de 2024 · Jaxon paid interest on the loan in December ,hence interest was paid in cash in year 0, but only 2 months of interest paid (November and December interest) belongs to that year,hence interest deductible in year 0 is calculatd as follows: interest deductible=$3,060*2/12 =$510 Advertisement Previous Advertisement magali perrier accordéoniste