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adell [148]
3 years ago
7

Mickey and Jenny Porter file a joint tax return, and they itemize deductions. The Porters incur $2,300 in investment expenses. T

hey also incur $3,500 of investment interest expense during the year. The Porters’ income for the year consists of $156,000 in salary, and $2,920 of interest income.
Business
1 answer:
Veseljchak [2.6K]3 years ago
4 0

Answer:

$3500 is deductible

Explanation:

The question is not complete . Please see the solution below :

The Investment Interest expense can be set off against Net Investment income ( Interest income - Investment expenses i.e $25000-$2000=$23000) to the extent and the remaining is carried forward to the next year. so here the investment interest expense is wholly set off against the interest income i.e $3500 is deductible

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Ruby is 25 and has a good job at a biotechnology company. She currently has $11,400 in an IRA, an important part of her retireme
Advocard [28]

Answer:

$ 358,063

Explanation:

Calculation for the amount that Ruby's IRA will be worth when she needs to start withdrawing money from it when she retires.

Ruby's IRA worth when she retires at age of 65

First step

Using this formula to find how many years until Ruby retires

Time period= Retired age (-) current age

Let plug in the formula

65-25=40 years

Second step is to find the future value of IRA when she retires

Using this formula

Future value of IRA when she retires

= Present value(1+r)t

Let plug in the formula

$ 11,400 (1+0.09) ^40

=$11,400 (1.09) ^40

=$ 11,400 (31.409)

= $ 358,063

Therefore the amout that Ruby's IRA will be worth when she needs to start withdrawing money from it when she retires will be $358,063

5 0
3 years ago
Managers must have the tools and resources necessary to "steer" the organization through future unknown conditions and often thr
svlad2 [7]

The correct order is the following:

1.- Assess the current reality.

2.- Establish the mission and vision

3.- Formulate the grand strategy & strategic, tactical & operational plans

4.- Open choices for matching.

5.- Maintain strategic control.

Great leaders know that managers have to assess the current reality of the company, the competitors, and the economic situation of the company, as well as microeconomic and macroeconomic factors. Then, the strategic planning has to begin with the definitions of the mission and vision, as well as the values that will represent the moral "pillars" of the company. Then, it comes the formulating of goals, the strategies to reach the goals, followed by the tactics that will show the details on how to accomplish those goals.

4 0
3 years ago
A listing given to any number of brokers without liability to compensate any broker, except the one who first secures a buyer re
german

Answer:OPEN LISTING

Explanation:

Open listing is a term used in the Marketing of securities like bonds,stocks and other marketable securities and real estates, in this type of listing it is made open to all the brokers available who are ready to help facilitate the sale.

Compensation can only be paid to the Broker who first brings the buyer of the listing. A broker is compensated based on the amount made buy the owner of the listing.

6 0
3 years ago
our individuals form a business and create a contract to divide the profits equally among the four. Gary invests $11,000, Neil i
Sedbober [7]

Answer:

$800

Explanation:

The computation is shown below:

First we have to determine the total amount invested that is shown below:

= $11,000 + $4,000 + $5,000 + $8,000

= $28,000

And, the profit is $5,600

So, the percentage is

= $5,600 ÷ $28,000

= 0.2

Now the Gary share is

= $11,000 × 0.2

= $2,200

And, each share in profit

= $5,600 ÷ 4

= $1,400

Now the final amount is

= $2,200 - $1,400

= $800

6 0
3 years ago
Each of the following documents is used in the control of cash disbursements except a.cash register tapes. b.receiving reports.
GrogVix [38]

Answer: a. cash register tapes.

Explanation:

When you go to a shop and buy something at the till and the cashier prints a receipt and gives it to you, that paper is a cash register tape.

A cash register tape therefore shows the goods sold and the amount the goods were sold at. It is therefore not used as a method of control for cash disbursement which is cash going out of a business but rather for cash that is coming into the business.

8 0
3 years ago
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