1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
yanalaym [24]
3 years ago
14

Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she was visiting Brussels. Rent inco

me was $5,000. Related expenses for the year were as follows: Real property taxes $3,800 Mortgage interest 7,500 Utilities 3,700 Insurance 2,500 Repairs 2,100 Depreciation 15,000 If an answer is zero, enter "0". a. Determine how much of the rental income is reportable. $ b. Determine whether the expenses are deductible. Select "Yes" if deductible otherwise select "No". Depreciation Real property taxes Repairs Utilities Mortgage interest Insurance
Business
1 answer:
victus00 [196]3 years ago
7 0

Answer:

11,300 dollars are reportable.

Depreciation: No

Real property taxes: Yes

Utilities: No

Repairs: No

Mortgage interest: Yes

Insurance: No

Step by Step Explanation:

Adelene rented her residence for 14 days, but since she rented it for less than a month, she can not include the $5,000 dollars she got on her gross income.

Therefore, the only rental income that can be reported are the real property taxes and the mortgage interest (3,800 + 7,500)

b) Determine whether the expenses are deductible.

Depreciation: No (because the residence was only rented for 14 days)

Real property taxes: Yes

Utilities: No (because the residence was only rented for 14 days)

Repairs: No (because the residence was only rented for 14 days)

Mortgage interest: Yes

Insurance: No (because the residence was only rented for 14 days)

You might be interested in
A process in which different individuals and units perform different tasks is known as:
elena-s [515]
The process is a multiplicative inverse of which people seem to check
4 0
3 years ago
A customer value proposition is a unique strength relative to competitors that provides superior returns, often based on quality
balu736 [363]

<u>Product Protocol is a statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers' needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers</u>

Explanation:

<u>Product protocol</u> is also termed as <u>Product definition ,Product requirement,Product deliverables.</u>

<u />

<u>A product protocol is required after the selection of the product and you are done with the Concept testing ,the preliminary  sales forecasting of the product is also completed.</u>

<u>The Product Protocol can be said to be a written document or statement  that is required by the various division of a company (like the R&D,Marketing,procurement,production departments)</u>

4 0
3 years ago
Which of the following are the three characteristics that an advertising appeal should have? A. humorous, memorable, and interes
mihalych1998 [28]

Answer: (E) Meaningful, believable, and distinctive

Explanation:

  The advertising appeal is one of the type of communication process in which the the various types of organizations and the companies using this business strategy for promoting their brands and the products in the market.

 The main objective of the advertising appeal is to creating awareness and inform customers or users about the new brands, various types of products and the services in the market.  

 According to the given question, there are mainly three type of characteristics of the advertising appeal that are as follows:

  1. Meaningful
  2. Distinctive
  3. Believable  

 The main aim of the meaningful characteristic is to make the product more interesting to the customers by highlighting its various types of meaningful advantages. Distinctive makes the product unique from all the products available in the market and believable appeal ensure the customer about the accurate delivery of the products.

 Therefore, Option (E) is correct answer.

6 0
3 years ago
Fred and Barney started a partnership. Fred invested $20,000 in the business and Barney invested $32,000. The partnership agreem
svet-max [94.6K]

Answer:

The amount of income assigned to the two partners would be $18,100 and $19,900 respectively.

Explanation:

For computing the amount of income assigned to the two partners, we have to do the following calculations which are shown below:

1. Dividend amount for each partner:

For Fred = Invested amount × rate of return

              = $20,000 × 15%

              =$3,000

For Barney =  Invested amount × rate of return

                  = $32,000 × 15%

                  = $4,800

The total dividend amount equals to

= Fred dividend + barney dividend

= $3,000 + $4,800

= $7,800

2. Now compute the remaining amount, and divide it in the sharing ratio

So, the remaining amount would be

= Partnership income - total dividend amount

= $38,000 - $7,800

= $30,200

So the Fred income would be = $30,200 × 50% = $15,100

And, the barney income would be = $30,200 × 50% = $15,100

So, the amount of income:

For Fred = Dividend income + remaining income

              = $3,000 + $15,100

              = $18,100

For Barney = Dividend income + remaining income

                   =$4,800 + $15,100

                   = $19,900

Hence, the amount of income assigned to the two partners would be $18,100 and $19,900 respectively.

8 0
3 years ago
Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,000 cameras with the follo
Kobotan [32]

Answer:

Prime costs= $480,000

Explanation:

Giving the following information:

Grin produced 4,000 cameras with the following costs:

Direct materials $400,000

Direct labor 80,000

Manufacturing overhead 320,000

To calculate the prime costs we need to use the following formula:

Prime costs= direct material + direct labor

Prime costs= 400,000 + 80,000= $480,000

8 0
3 years ago
Other questions:
  • How do scarce resources influence you personally? What impact does this have on your financial management?
    7·2 answers
  • An equal partnership is formed by rita and gerry. rita contributes cash of $10,000 and a building with a fair market value of $1
    8·1 answer
  • If the required reserve ratio is 20 percent and commercial bankers decide to hold additional excess reserves equal to 5 percent
    10·1 answer
  • When current government expenditures exceed current tax revenues and the economy is achieving full employment: Group of answer c
    9·1 answer
  • Anthony Roofing's budgeted manufacturing costs for 50,000 squares of shingles are: Fixed manufacturing costs $30,000 Variable ma
    14·1 answer
  • Can someone please explain what grassroots are in easy terms? I have tried to find a definition that I understand but I can't fi
    11·1 answer
  • Who are the top three trading partners with the US?
    6·2 answers
  • The difference between accounting exposure and translation exposure is that:______
    10·1 answer
  • How do credit
    13·1 answer
  • Why target market trade is executed
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!