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Tasya [4]
3 years ago
14

Brandon and jane forte file a joint tax return and decide to itemize their deductions. the forte's income for the year consists

of $120,000 in salary, $1,000 interest income, $1,500 nonqualifying dividends, and $1,000 long-term capital gains. the forte's expenses for the year consist of $3,000 investment interest expense and $900 tax preparation fees. assuming that the forte's marginal tax rate is 30%, what is the amount of investment interest expense deduction for the year?
Business
1 answer:
netineya [11]3 years ago
8 0
The interest income for the year is $1000. The investment interest expense is $ 3000. As per the provision the investment income expenses deduction is allowed to the extent of investment income. The amount which could not be deducted can be carried forward for next year. So the investment interest expenses allowed as deduction is limited to $1000 for Forte for the year. Since the dividend income is non qualifying income no expense is allowed on such income.
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On January 2, 20X1, Cole Co. signed an eight-year noncancelable lease for a new machine, requiring $15,000 annual payments at th
zvonat [6]

Answer:

Cole should record amortization expense for the leased machine at $9,000.

Explanation:

Machine cost would be recorded in book at = present value of Aggregate lease payments

Machine cost would be recorded in book at = $108,000

Depreciation (amortization) expense for the leased machine in first year= (Machine cost - salvage value)/Useful life

Depreciation (amortization) expense for the leased machine in  first year= ($108,000 - 0)/12

Depreciation (amortization) expense for the leased machine in  first year= $ 9,000

Therefore, Cole should record amortization expense for the leased machine at $9,000.

7 0
3 years ago
When museums charge a lower admission fee to students and senior citizens, this form of price discrimination is known as _______
AVprozaik [17]

Segmented pricing is a situation, when seller or a company establishes different prices (two or more), for one the same product.

Price segmentation, to put it simply, is the process of differentiating pricing based on willingness to pay. It is motivated by the reality that customers' price sensitivity might differ greatly from one another, from one product to another, and throughout all the environments in which they use your product.

With price segmentation, you may set different prices for various consumer types according to their willingness and ability to pay. Price segmentation allows you to profit more from consumers who spend the most and less from those who pay the least.

Learn more about Price segmentation here

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3 0
1 year ago
Which career professionals typically have some college experience but no degree? A. IT Project Managers, Computer Hardware Engin
azamat

Answer:

B. Web Administrators, Computer Operators, and Video Game Designers

Explanation:

Web Administrators requires individual to have minimum of high school diploma, with most ideal requirements is associate college degree. Also known as webmasters or web developers, their main functions is to maintain the website content, its design and other functionalities.

Also, Computer Operators are personnels or individuals who are skilled in maintaining the and running the computer systems, while ensuring it functions fully well.

The educational requirements are most associate college degree at the minimum.

Video game designers are as well have minimum educational requirements of high school diploma, and good knowledge and experience in programming, software programs, and 3D modeling amongst others can be an added advantage.

The other options requires minimum of Bachelor's degree, with research scientist can have minimum of Post graduate or doctorate degree in computer science and data analysis.

Hence, the correct answer is option B.

6 0
3 years ago
Some similarities between Netflix, Apple and Walmart
irakobra [83]

Answer:

They all cost money

Explanation:

5 0
3 years ago
Read 2 more answers
During the economic downturn of 2008-2009, the Federal Reserve a. took the unusual step of using open-market operations to purch
masha68 [24]

Answer: a. took the unusual step of using open-market operations to purchase mortgages and corporate debt.

Explanation:

During the Great Recession of 2008 - 2009, the Fed realized that it could not sit idly by as it had done during the Great Depression of 1929 and so decided to take some drastic measures to rescue the financial system.

One such measure was the use of open market operations to buy mortgages and corporate debt. The Mortgage market crashing primarily the cause of the crises so the Fed bough them up trying to prop up the market with the hope that the real estate market would begin to recover.

7 0
3 years ago
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