Ilene rents her second home. During the year, Ilene reported a net loss of $18,700 from the rental. If Ilene is an active participant in the rental and her AGI is $141,000, how much of the loss can she deduct against ordinary income in the year?
Multiple Choice
$0.
$4,500.
$14,200.
$18,700.
Answers
Ilene can deduct a maximum of $4,500 loss from her ordinary income, the remaining $14,200 of the loss cannot be deducted in the current year.
The Internal Revenue Service (IRS) allows taxpayers to deduct losses from rental properties against their ordinary income, but there are limits on how much can be deducted. For taxpayers with an adjusted gross income (AGI) of $100,000 or less, the full amount of the loss can be deducted. However, for taxpayers with an AGI over $100,000, the deduction is phased out. The amount of the deduction is limited to 50% of the excess of the taxpayer's AGI over $100,000.
In Ilene's case, her AGI is $141,000, which is over $100,000. The amount of the excess is $41,000. The deduction is limited to 50% of this amount, or $20,500. However, the total loss from the rental property is only $18,700. Therefore, Ilene can only deduct $4,500 of the loss from her ordinary income.
Ilene can deduct $4,500 of the loss from her ordinary income. The remaining $14,200 of the loss cannot be deducted in the current year, but it can be carried forward to future years and deducted against ordinary income in those years.
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Related Questions
You plan to invest RM2000 a year in one of the Malaysian unit trusts for the next 20 years. You would like to know the effect of investing this money at the beginning of each year rather than waiting until the end of each year. Calculate the difference in the future value of your investment at the end of 20 years as an ordinary annuity versus an annuity due, assuming a 10 percent interest rate.
Answers
When investing RM2000 per year for 20 years in a Malaysian unit trust with a 10% interest rate, the future value of the investment differs between an ordinary annuity and an annuity due.
For an annuity due, where payments are made at the beginning of each period, the future value is calculated to be approximately RM154,429. On the other hand, for an ordinary annuity, where payments are made at the end of each period, the future value is estimated to be around RM173,012.
The difference between the two approaches is approximately RM18,584 (rounded to the nearest whole number). This indicates that opting for an annuity due would result in a lower future value compared to an ordinary annuity.
Overall, the choice between an ordinary annuity and an annuity due can significantly impact the future value of an investment.
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Gabriel Joseph has begun a new delivery and warehousing business. To begin his deliveries, he has leased a new truck. The 0ve-year lease arrangement provides formonthly payments based on the $35,000 cost of the truckand an a greedonrate of 1 5 percent compounded monthly.What will Mr.Joseph's lease payment be each month?
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_______ is an important step of the marketing process because it involves the process of systematically collecting, recording, and analyzing data on what consumers want and need, their consumption habits, trends, and changes in the marketing environment.
a. Marketing strategy
b. Marketing information system
c. Sales forecast
d. Marketing research
Answers
Answer:
Customer relationship management
The manufacturing overhead budget at Franklyn Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 3,300 direct labor-hours will be required in January. The variable overhead rate is $8 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $43,170 per month, which includes depreciation of $3,590. All other fixed manufacturing overhead costs represent current cash flows. The January cash disbursements for manufacturing overhead on the manufacturing overhead budget should be:
Answers
Answer:
$65,980
Explanation:
Calculation for what The January cash disbursements for manufacturing overhead on the manufacturing overhead budget should be
Using this formula
Cash disbursements for manufacturing overhead= Variable + Fixed
Let plug in the formula
Cash disbursements for manufacturing overhead=(3,300*$8) + ($43,170 - $3,590)
Cash disbursements for manufacturing overhead= $26,400 + $39,580
Cash disbursements for manufacturing overhead= $65,980
Therefore The January cash disbursements for manufacturing overhead on the manufacturing overhead budget should be $65,980
Hank leases 150 acres from Sara and Jesse. He has an option contract attached to his lease, with an option to purchase that can be exercised within the next two years. What type of contract is this
Answers
An option-fee based contract is the contract attached to his lease as its has an option to purchase that can be exercised within the next two years.
What is an option-fee based contract?An type of contract is that allows a money to be paid by a buyer to a seller for the option to terminate a real estate contract.
In conclusion, an option-fee based contract is the contract attached to his lease as its has an option to purchase that can be exercised within the next two years.
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memorandum of association can be amended by
Answers
Answer:
Explanation:
A company's Memorandum of Association may be changed by the shareholders passing a special resolution in a general meeting or by written resolution. A copy of the resolution must be sent to Companies House within 15 days.
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
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Are you career ready? Please log back into your FOCUS2 account and take the Career Readiness Assessment. Is there a skills gap in today's college graduates in the workforce? Please write an argument whether you agree or disagree with this topic with supporting evidence, or examples defending your argument.
NewPathwaysFromCollegetoCareer-digital (002).pdf
Answers
Yes, there is a skills gap in today's college graduates in the workforce, as evidenced by the increasing disparity between employer expectations and the competencies possessed by recent graduates.
According to a survey by the National Association of Colleges and Employers, only 43% of employers considered recent graduates to be well-prepared for entry-level positions. This gap is partly due to the rapid pace of technological advancements, with many curricula failing to keep up.
Additionally, the emphasis on theoretical knowledge over practical skills and lack of opportunities for real-world experience contribute to this gap. As a result, employers often have to invest time and resources in training new hires, hindering productivity and economic growth.
Some factors contributing to the skills gap in college graduates include outdated curricula, inadequate work experience, and limited exposure to practical skills relevant to the current job market. For instance, some courses and programs may be outdated, making it challenging for students to develop the skills and knowledge required by today's employers. Moreover, the gap between what employers expect from college graduates and what they can offer is another significant concern that contributes to the skills gap in college graduates.
In conclusion, it is clear that there are valid arguments both for and against the existence of a skills gap in today's college graduates in the workforce. However, the debate on this topic is ongoing, and it is essential for college graduates to acquire the necessary skills and competencies required to succeed in the current job market.
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Fill The Blank ?world foreign direct investment flows between 1990 and 2017 increased by 600 percent. if a company decides to set up a new operation in a foreign country, what the company has been involved with______
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Fill The Blank ? World foreign direct investment flows between 1990 and 2017 increased by 600 percent. if a company decides to set up a new operation in a foreign country, what the company has been involved with Foreign Direct Investment.
Foreign Direct Investment (FDI) is an investment made by a company or entity in one country into business interests located in another country. It occurs when a company invests directly in facilities such as factories, real estate, or equipment in another country.
FDI is a major driver of economic growth and development, providing companies with access to new markets, and allowing them to benefit from lower production costs and increased efficiency.
Over the past three decades, FDI flows have increased dramatically, with global FDI flows increasing by 600 percent between 1990 and 2017. FDI can also bring with it new technologies and management practices, which can help to boost productivity and competitiveness.
FDI can also create jobs and spur economic growth in the host country, as companies establish new operations and hire local workers. Additionally, FDI can help to increase exports, as countries can benefit from new markets, access to resources, and improved access to capital.
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Clearvoice is a wireless telephone monopolist in a rural area. There are 100 consumers in the market, each of whom has a monthly demand curve for wireless minutes ofstudent submitted image, transcription available below= 100 - 100 P, where P is the per minute price in dollars. The marginal cost of providing wireless service is 10 cents per minute. If Clearvoice charges 40 cents per minute, how large a fixed fee can it charge and still persuade consumers to buy? What is its profit from each consumer? Its total profit? What if the firm charges 10, 20, 30 cents per minute?
Answers
Clearvoice can charge a fixed fee of $18 and still persuade consumers to buy at a price of 40 cents per minute. The profit from each consumer is 30 cents, resulting in a total profit of $18 for all 60 minutes sold.
To determine the fixed fee that Clearvoice can charge, we need to find the quantity demanded at the given price of 40 cents per minute. By substituting the price into the demand curve equation, we find that 60 minutes of wireless service will be demanded at this price. This means Clearvoice can charge a fixed fee of $18 ($0.30 x 60 minutes) and still persuade consumers to buy.
The profit per consumer is calculated by subtracting the marginal cost of 10 cents per minute from the price of 40 cents per minute, resulting in a profit of 30 cents per minute. With a total quantity demanded of 60 minutes, the total profit for Clearvoice is $18 ($0.30 x 60 minutes).
If Clearvoice were to charge 10, 20, or 30 cents per minute instead, the calculations would be different. The quantity demanded would change according to the demand curve, and the profit per consumer and total profit would vary accordingly. However, without specific prices provided, we cannot determine these values precisely.
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Select all that apply.
Select all reasons data mining is important to businesses.
It cuts costs.
It identifies long-term goals.
It solves problems.
It increases profits.
Answers
I sole’s problems increase profits
Answer:
a,c,d
Explanation:
Suppose that a worker in Cornland can grow either 40 bushels of corn or 10 bushels of oats per year, and a worker in Oatland can grow either 5 bushels of corn or 50 bushels of oats per year. There are 20 workers in Cornland and 20 workers in Oatland. If the two countries do not trade, Cornland will produce and consume 400 bushels of corn and 100 bushels of oats, while Oatland will produce and consume 60 bushels of corn and 400 bushels of oats. If each country made the decision to specialize in producing the good in which it has a comparative advantage, then the combined yearly output of the two countries would increase by
Answers
Answer:
see. I hope it's helpful for you lolExplanation:
i need friend lol can you my friend
The number of dependents that people are choosing to have is ?
O decreasing
O increasing
Answers
Current demographic trends show that the number of dependents that people choose to have is Decreasing.
What is the trend in dependants?A general trend that has been noticed in recent years is that people are choosing to have less dependants such as children.
The top reasons for this include more education and increased economic hardship.
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In JoJo's Bizarre Adventure, Does Jotaro Kujo get his stand, Star Platinum, back?
Answers
It is a false statement that Jotaro Kujo get his Stand Disk "Star Platinum" back.
What is the JoJo's Bizarre Adventure about?In the Adventure, the Star Platinum is a humanoid Stand that resembes a tall and well-built man of similar proportions to Jotaro.
In the colored art, its skin is often a hue between purple, blue, green, and small bits of gold. Its face and body have varying colors.
In the story, after the loss of the Star Platinum, Jolyne finally retrieves Jotaro's Stand Disk but delivers it to the Pigeon named Savage Guardian in episode 12 of the story.
Therefore, It is a false statement that Jotaro Kujo get his Stand Disk "Star Platinum" back.
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Answer:
yes
Explanation:
The Finley Company plans to produce 25,000 units during July. It plans to sell 26,000 units in July. Each unit of finished product requires 2 pounds of direct material X. This direct material costs $4 per pound. The July 1 inventory of X is 2,000 pounds, and the desired July 31 inventory of X is 1,000 pounds. The cost of material X purchases in July is planned to be: Group of answer choices
Answers
The cost of the material X purchased in July should be $196,000.
The cost of material X purchased be:Material required for production (25,000 units × 2 pound per unit) 50,000 pounds
Add: Desired closing inventory 1,000 pounds
Total requirement 51,000 pounds
Less: Opening inventory - 2,000 pounds
Material to be purchased 49,000 pounds
Multiply with Cost of material $4 per pound
Total cost of purchases $196,000
Therefore we can conclude that the cost of the material X purchased in July should be $196,000.
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when purchase costs are (rising/declining) , lifo will report the lowest cost of goods sold yielding the highest gross profit and net income.
Answers
When purchase costs are declining, LIFO (last-in, first-out) will report the lowest cost of goods sold, yielding the highest gross profit and net income.
LIFO stands for last-in, first-out, and it is a method of accounting for inventory costing. The last goods obtained are the first to be sold under this approach. As a result, the value of inventory on the balance sheet is based on the oldest inventory items.
LIFO has a big effect on the cost of goods sold and, as a result, net income. When purchase costs are increasing, LIFO will report the highest cost of goods sold and the lowest gross profit, lowering net income. When purchase costs are decreasing, however, LIFO will report the lowest cost of goods sold and the highest gross profit, raising net income. Therefore, when purchase costs are declining, LIFO will report the lowest cost of goods sold, yielding the highest gross profit and net income.
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Is the sales manager a subordinate? explain why?
Answers
what are the are the three groups of the economy
Answers
There are three main types of economies: free market, command, and mixed.
Please answer this if you wanna try to cheer me up
I need it a lot and I'd be really grateful
Answers
I don’t know what the question is, but I answered this so hopefully this cheered you up!
Using your savings to buy something you think will increase in value is known as.
Answers
Using your savings to buy something you think will increase in value is known as investing.
Ways to invest savingsIf you have savings that you want to multiply, it is best to invest them in various assets that have been appreciated over time. Among the alternatives to investing, the following stand out:
Gold is a demanded good that has been appreciated. Also, gold can sell quickly if you need the money.Collectible and classic cars increase their value over time if they are in good condition and are design icons in the automobile industry.Art objects are in high demand depending on their originality, and antiquity. Their value will increase as the artist is more recognized.Learn more about savings and investments here:
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True or false.
Supply and demand determines the price of labor paid for jobs earning more than minimum wage.
Answers
Answer:
true
Explanation:
Price controls generally serve a positive economic function, as they compensate for the market’s inability to regulate wages in certain sectors of the economy. True or false?.
Answers
False, Price controls do not serve a positive economic function.
Price controls, like laws requiring a minimum wage, are rarely the win-win scenarios that lawmakers frequently claim they are.
Price Controls: Government regulations on wages, prices, or their rates of change are known as price controls. Such restrictions can be imposed by the government on a variety of products and services or, more frequently, on a market for a particular good.
Example of Price Control:
Prices on drugs (to make medication and health care more affordable), rent control (where governments impose a maximum amount of rent that a property owner can charge and the limit on how much rent can be increased each year), and minimum wages are some of the most popular examples of price controls (the lowest possible wage a company can pay its employees).
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Unlike for-profit organizations, operating non-profit organizations is more challenging because ____. unlike for-profit organizations, operating non-profit organizations is more challenging because ____. nonprofits are government-based nonprofits need to network with charities nonprofits need more funds the cost of operating nonprofits is greater than their revenue nonprofits need to meet a set of objectives while maintaining steady revenue
Answers
Answer:
Explanation:
need more funds i think
Q 4. 25: in december 2018, connoisseur catering provides all the food, drinks, and waitstaff for ace industries' annual holiday party. Connoisseur's total expenses related to this job are $9,000. Connoisseur bills ace $15,000 for the job but does not receive payment until january 15, 2019. Connoisseur opts to record all revenues and expenses related to this job on a cash basis rather than an accrual basis. In this scenario, connoisseur will show
Answers
In this scenario, the connoisseur will show a revenue of $15,000 and an expense of $9,000 in 2018, as they recorded the transaction on a cash basis.
On a cash basis of accounting, transactions are recorded when the cash is received or disbursed, rather than when the goods or services are provided. In this case, Connoisseur Catering provided the food, drinks, and waitstaff for Ace Industries' annual holiday party in December 2018. However, they did not receive payment until January 15, 2019. Therefore, under the cash basis of accounting, Connoisseur Catering will recognize the $15,000 in revenue in its financial statements for 2018, when the payment was received. They will also recognize the $9,000 expense in their financial statements for 2018 when the payment was made.
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which is a cause of system unavailability? A) natural disaster B) incomplete testing C) poor password practices D) poor physical security
Answers
Answer:
D) poor physical security
Explanation:
Answer:
A natural disaster
Explanation:
I know it seems weird but I put that and my test on Plato scored it as right
MATCH EACH TERM WITH EACH DEFINITION
Credit report
Grace period
Secured card
Annual percentage rate
1. The amount of interest paid on a unpaid balance
2. Number of days to run a balance before fees or interest are charged
3.A credit card with money in a savings account to act as collateral
4. A listing of a persons financial information and history
Answers
Answer:
grace period = 2
credit report= 4
secured card = 3
annual percentage rate = 1
Answer:
annual percentage ; the amount of interest charged on unpaid balances
grace paid ; number of days to run a balance before fees or interest are charged.
balance transfer ; the movement of money owed on one credit card to another credit card.
credit report ; listing of a person's financial information and history.
Explanation:
ap3x correct
which united states president was the first to enact legislation monitoring and regulating corporations who were unfairly cooperating together to influence market forces?
Answers
Theodore Roosevelt was the first United States President to enact legislation monitoring and regulating corporations who were unfairly cooperating together to influence market forces.
Theodore Roosevelt,26th president of the United States (1901–09) and a writer, naturalist, and soldier. He expanded the powers of the presidency and of the federal government in support of the public interest in conflicts between big business and labour and steered the nation toward an active role in world politics, particularly in Europe and Asia. He won the Nobel Prize for Peace in 1906 for mediating an end to the Russo-Japanese War (1904–05), and he secured the route and began construction of the Panama Canal.
Theodore Roosevelt was the first United States President to enact legislation monitoring and regulating corporations who were unfairly cooperating together to influence market forces.
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The law is a catalyst for commerce because it promotes _______ among merchants and consumers and giving some degree of ________ that can be considered in business planning and commercial transactions. Multiple select question. reliability
Answers
The law is a catalyst for commerce because it promotes reliability among merchants and consumers and giving some degree of predictability that can be considered in business planning and commercial transactions.
Let's understand this in more than 100 words below:How the law acts as a catalyst for commerce?The law acts as a catalyst for commerce since it promotes reliability among merchants and consumers.
If a business owner knows that they can trust their business associate and customers to keep their end of the deal, it becomes much easier to manage and conduct commercial activities.
Trust allows businesses to operate with confidence, which benefits the economy as a whole.
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Question- outline and discuss the steps of the marketing management process that a marketing manager Is Responsible for
Answers
Answer: 1) Raising brand awareness 2) Supervise sales team 3) Carry out presentation
Explanation:
The marketing management has a lot to do to ensure a product is well sold in the market.
1) Raising brand awareness; the product management must come up with innovative wats of promoting brand awareness, either through social media or street marketing, these lies in their hands to do. They are to come up with marketing campaigns
2) Supervise team: the product management would work with a team of marketers and while doing so, would supervise each of them in monitoring how they are going about getting new clients and retaining old clients
3) Presentations; where the nee arises, the marketing management would go out for presentations to companies and group of organization to teach about her products. This can also be done by her team members but they are some occasion the management plays the role
the price elasticity of demand depends on
Answers
Answer:
...price levels, the type of product or service, income levels, and the availability of any potential substitutes.