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makkiz [27]
1 year ago
5

in 2021, kiana's house boat was destroyed by a storm in a region that was declared a federal disaster area by the president. she

had purchased the boat in 2017 for $65,000. on what form(s) will kiana report this loss?
Business
1 answer:
luda_lava [24]1 year ago
5 0

Kiana will report under the head of natural disaster and its compensation amount is also exempt.

  • In income tax, there are a total of five heads of income viz
  1. income from salary
  2. Income from house property
  3. Income from profits and gain of business or profession
  4. Income from capital gains
  5. Income from other sources
  • Each head of income describes different features of income that are taxable.
  • Income tax is a tax levied on income or profits received by an individual or entity. Income tax is usually calculated as the product of tax rate and taxable income.
  • Tax rates vary depending on the type and characteristics of the taxpayer and the type of income.

Thus, Kiana's loss results from a natural disaster that is exempt under section 10(10BC).

To know more about income tax refer : brainly.com/question/26316390

#SPJ4

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When the interest rate is 10% per year, all of the following are equivalent to $5,000 now except: A) $4,545 one year ago B) $5,5
Evgesh-ka [11]

Answer:

$4,021 two years ago

Explanation:

Given that

The Rate of interest is 10%

And as we know that

PV = FV × (1 + i)^(-n)

And

FV = PV ÷ (1 + i)^n

where,  

PV = prsent value,

FV = future value ,

i = interest rate,

n = years

Now

a)

FV = $4,545 × (1.1)

= $4,999.5

b)

PV = $5,500 ÷ (1.1^-1)

= $5,000

c)

FV = $4,021 × (1.1^2)

= $4,865.41

d)

PV = $6,050 × (1.1^-2)

= $5,000

hence, the correct option is c. $4,021

It is wrongly written as $4,012

3 0
3 years ago
Read 2 more answers
Arthur Meiners is the production manager of​ Wheel-Rite, a small producer of metal parts.​ Wheel-Rite supplies​ Cal-Tex, a large
lidiya [134]

Answer:

The optimum production quantity is 72 wheel bearings per batch.

Explanation:

Wheel Rite can produce 480 wheel bearings per day.

Setup cost are $39 per batch.

Holding costs are $0.70 per unit per year.

The optimum batch size can be calculated as the one that minimizes the cost. This can be calculated with the Economic Order Quantity formula:

Q=\sqrt{\frac{2DS}{H} }

In this case, the units are:

D: daily demand (52 u.)

S: Setup cost per order ($39)

H: holding cost per unit per year ($0.70)

Then, we have:

Q=\sqrt{\frac{2DS}{H} }=\sqrt{\frac{2*52*39}{0.7} }=\sqrt{5,794}=76.12\approx 72

The optimum production quantity is 72 per batch.

5 0
3 years ago
Lawrence Wright is slow in math. He has before him the equation of (ending value minus beginning value) and income return totall
Aleks [24]

The equation of (ending value minus beginning value) and income return totalled, then divided by beginning value is used to find "rate of return".

<h3>What is income returns?</h3>

The portion of a fund's total returns that came through income distributions is known as the income return. For bond funds, income return will frequently be larger than capital return, while for stock funds, it will typically be lower. The fund's total return is calculated by adding the income return and the capital return together.

Rate of Return- The net gain or loss of an investment over a given time period, stated as a percentage of the investment's starting cost, is known as a rate of return (RoR).

Some key features of rate of return are-

  • ROI is computed by first dividing the net return by the investment's cost, then multiplying the result by 100. This new number, which represents the net return, is then obtained by subtracting the investment's original value from its final value.
  • According to conventional thinking, a fair return on an investment in stocks is one that is at least 7 percent annually. Additionally, this relates to the S&P 500's average annual return when inflation is taken into account.

To know more about internal rate of return, here

brainly.com/question/24301559

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7 0
2 years ago
The book gives a clear knowledge of marketing at both the strategic and conceptual level as well as the ____.
jasenka [17]

Answer:

The book gives a clear knowledge of marketing at both the strategic and conceptual level as well as the ____.

tactical, hands-on level

Explanation:

At the highest level of marketing management is the strategic level, which is more conceptual.  Down the scale is the tactical marketing plan, which specifies the marketing tools and techniques which a company will use to meet its marketing goals.   At this level, the tactical tools in use include advertising, sales promotions, and other activities that directly implement the strategic marketing plan.  The tactical level reduces the business strategic goals to marketing objectives.

3 0
3 years ago
Mccabe Corporation uses the weighted-average method in its process costing. The following data pertain to its Assembly Departmen
Gemiola [76]

Answer and Explanation:

The computation of the equivalent units of production for both materials and conversion costs is given below:

For material

= Units completed + ending work in process × completion percentage

= 7,700 + 2,100 × 0.75

= 9,275 units

And, for conversion cost

= Units completed + ending work in process × completion percentage

= 7,700 + 2,100 × 0.25

= 8,225 units

5 0
2 years ago
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