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ziro4ka [17]
3 years ago
13

For regular tax purposes, with regard to the itemized deduction for qualified residence interest, home equity indebtedness incur

red during a year:
a. Includes acquisition indebtedness secured by a qualified residence.
b. May exceed the fair market value of the residence.
c. Must exceed the taxpayer's net equity in the residence.
d. Is limited to $100,000 on a joint income tax return.
Business
1 answer:
mojhsa [17]3 years ago
7 0

For regular tax purposes, with regard to the itemized deduction for qualified residence interest, home equity indebtedness incurred during a year: Is limited to $100,000 on a joint income tax return.

Explanation:

The debt of household property is entitled to a joint return of $100,000. Home equity debt is any mortgage not obtained by a qualifying property.  

The reasonable market value of the home shall not be greater than that of the purchase loan or the lesser amount of $100,000.  

The debt to purchase, create, and substantially improve a qualifying residence is the debt owed in the purchasing, construction and securing of such house (a 1 million dollars limited).  

The certain value on debt that outperforms these limits can not be subtracted.

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Which of the following is true about a business plan?
dusya [7]

Answer:

d

Explanation:

the plan can change from buget sponsors and othere factors

3 0
3 years ago
Nami is very good at research is skilled at developing instructional materials and knows about libraries and information
GrogVix [38]

The answer is: B) professional support services

Skills in developing instructional materials and research make you a very valuable assets in providing data that needed by the people on the field (the front liners).

The duty of professional support services is to collect relevant data from company operations, processing that data, and provide instructions or advice for the front liners on how to use that data to their advantage.

8 0
3 years ago
Read 2 more answers
Assume that you purchased 140 shares of Misty Company stock for $78 a share, that you received an annual dividend of $1.60 a sha
sergeinik [125]

Answer:

Return  (%)   = 17.43%

Explanation:

T<em>he return on investment is the sum of the dividends earned and capital gains made during the holding period of the investment.</em>

Dividend is the proportion of the profit made by a company which is paid to shareholders.

Capital gains is another type of the return made on an equity investment as a result of increase in the value of the shares. It is difference between the cost of the share and the value at the time of disposal.

Therefore, we can can compute the return on the investment as follows:

Dividend= ($1.60× 140)= $224

Capital gains= (90-78) × 140= $1680

Total dollar return on Investment = $224+ $1680= $1904

Total return in (%) = Return/ cost of shares × 100

                           = 1904/ (140 × 78) ×  100

                           = 17.43%

7 0
3 years ago
Problem 14-04 Stock Repurchase A firm has 5 million shares outstanding with a market price of $15 per share. The firm has $15 mi
Charra [1.4K]

Answer:

$60 million

Explanation:

The computation of the value of operations after the repurchase is shown below:-

Total corporate value = Value of operation + marketable securities

(5 × $15 million) = Value of operation + $15  million

$75 million = Value of operation + $15  million

Value of operation = $75 million - $15  million

= $60 million

We simply applied the above formula so that the firm's value of operations after the repurchase could come

5 0
2 years ago
On January 1, 2018, Nath-Langstrom Services, Inc., a computer software training firm, leased several computers under a two-year
LiRa [457]

Answer:

Answer to the question :

On January 1, 2018, Nath-Langstrom Services, Inc., a computer software training firm, leased several computers under a two-year operating lease agreement from ComputerWorld Leasing, which routinely finances equipment for other firms at an annual interest rate of 4%. The contract calls for four rent payments of $13,000 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by ComputerWorld at a cost of $90,000 and were expected to have a useful life of five years with no residual value. Both firms record amortization and depreciation semi-annually.

Required:

1. Prepare the appropriate entries for both the lessee and the lessor from the beginning of the lease through the end of 2018.

is explained in the attachment.

Explanation:

Download pdf
7 0
3 years ago
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