Answer:
What was the rate of return to an investor in the fund?
10%
Explanation:
To calculate the Rate of Return it's necessary to find the variation of the Net Assets Value during the year plus the distributions of income, the result of this it's divided by the Start of Year Net Asset Value.
Rate of Return = (Var NAV + Distributions) / Start of Year NAV
Rate of Return =
($13,2 - $14,0) = -$0,80
+ Distributions = $2,2 /
Start of Year NAV = $14,0
Rate of Return = (-$0,80 + $ 2,2 ) / $14,0 = 10%
Answer:
Since 2019, the deduction limit for interest expense deductions on qualified higher education loans is $2,500. In order to qualify for this deduction, the taxpayer's adjusted AGI must be less than $85,000 for single filers (Lionel's income is below the threshold).
So Lionel will be able to deduct $1,650 as interest expense (above the line deduction).
Lionel can also deduct $2,500 form the American Opportunity Tax Credit for higher education expenses.
Answer:
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Answer:
125,200
Explanation:
Adjust inventory to base year prices:
= Cost of ending inventory ÷ cost index for the year
= $136400 ÷ 1.1
= $124,000
Current year LIFO layer:
= Adjust inventory to base year prices - Cost of beginning inventory
= $124,000 - $112,000
= $12,000
Inventory to be shown:
= Add the new LIFO layer at end of period prices to prior year LIFO inventory
= (112,000 × 1) + (12,000 × 1.1)
= 112,000 + 13,200
= 125,200
