Answer:
homeowner can deduct all interest on 2 homes on first lien up to 1 million mortgage amount accumulated
also deductible is a home eq line of credit/second mortgage on both homes up to 100,000 dollars, can borrow more than 100k if its for medical
Explanation:
HOPE THIS HELPS.
Based on the other transactions, the amount of dividends that was paid that year was <u>$158,704.</u>
<h3>After tax Net income </h3>
= Taxable income x ( 1 - tax)
= 198,600 x ( 1 - 21%)
= $156,894
<h3>Dividends during year</h3>
= Opening retained earnings + After tax income - Closing retained earnings
= 318,750 + 156,894 - 316,940
= $158,704
In conclusion, the dividends paid were $158,704.
Find out more on dividends paid at brainly.com/question/13470638.
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hope that gives you a base idea
Answer:
C. $77,000
Explanation:
Calculation for the amount of liabilities
Using this formula
Amount of liabilities=(Cash+Account receivable +Equipment) -Equity
Let plug in the formula
Amount of liabilities=($39,000+$45,000+$80,000)-$87,000
Amount of liabilities=$164,000-$87,000
Amount of liabilities=$77,000
Therefore the Amount of liabilities will be $77,000
