Answer:
which of the following but where are the following broo
If my client Beth has a home in California with a first and second mortgage and is looking for a vacation home and asks if she can deduct mortgage interest, I would suggest obtaining a mortgage secured by the second home and deducting the interest from the loan.
Mortgage interest settled on a second home used personally is deductible as long as the mortgage fulfills the exact prerequisites for deductible interest as on your primary home, and if the second home is put on for rent, the loan taken for the second home will not have a limit for the deduction of interest payment.
Vacation Home with Second house mortgage
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Answer:
$7,200,000
Explanation:
Calculation to determine At what amount should Planar record the acquisition of Sistrock's net assets
Using this formula
Acquisition of Sistrock's net assets =(Shares of common stock issued ×Common stock fair value per share
Let plug in the formula
Acquisition of Sistrock's net assets=100,000*$72
Acquisition of Sistrock's net assets=$7,200,000
Therefore the amount that Planar should record the acquisition of Sistrock's net assets is $7,200,000
