1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
wariber [46]
3 years ago
7

Mr. Smith, a cash-basis, calendar-year taxpayer, owns a duplex. He lives in one unit and rents the other unit to an unrelated in

dividual. The two units are approximately equal in size. On July 1, Year 1, Mr. Smith paid the property insurance on the duplex for the 3-year period July 1, Year 1, through June 30, Year 4. The total premium was $360. For Year 1, Mr. Smith’s rental expense for this insurance policy isA. $30
B. $60
C. $120
D. $360
Business
1 answer:
Angelina_Jolie [31]3 years ago
5 0

Answer:

Mr. Smith’s rental expense for this insurance policy is

A. $30

Explanation:

Premiun 360

N 3

year 120

From July to December 60

 

Duplex insurance e/one 30

You might be interested in
Exercise 5-17 (Algorithmic) (LO. 4, 8) Rover Corporation would like to transfer excess cash to its sole shareholder, Aleshia, wh
CaHeK987 [17]

Answer:

The correct answer that a dividend is a better choice is . a. Regarding taxes, which would benefit Aleshia the most? The $114,000 dividend because after taxes she would have $ from the dividend and $ 86,640 from the bonus.

Explanation:

A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits. When a corporation earns a profit or surplus, the corporation is able to re-invest the profit in the business and pay a proportion of the profit as a dividend to shareholders.

A tax (from the Latin taxo) is a compulsory financial charge or some other type of levy imposed upon a taxpayer (an individual or legal entity) by a governmental organization in order to fund various public expenditures. A failure to pay, along with evasion of or resistance to taxation, is punishable by law.

5 0
3 years ago
In early year 8, Alice sold Tom, her son, 20 shares of common stock for $20,000. Alice had paid $25,000 for the stock in year 2.
Tema [17]

Answer:

He must report 15,000 gain in his year 8 tax...........

4 0
2 years ago
Comparing perfect first degree price discrimination to perfect competition one can conclude that: (i) Total social surplus is th
marta [7]

Answer:

C. Both (i) and (ii) are true

Explanation:

Under perfect price discrimination, consumer surplus doesn't exist since the supplier is selling the good or service at the maximum price that each consumer is willing to pay. This situation maximizes supplier surplus.

Under perfect competition, both supplier and consumer surplus exist.

Since total social surplus = supplier surplus + consumer surplus, total surplus should be the same in both situations.

5 0
2 years ago
Which marketing management philosophy focuses on the question, "what do customers want and need?".
svp [43]

Answer:

Which marketing management philosophy focuses on the question, "What do customers want and need?" -do research on its customers, competitors, and markets. -establish and maintain mutually satisfying relationships with customers.

7 0
2 years ago
During the year, Eleanor earns $120,000 in wages as an employee of an accounting firm. She also earns $30,000 in gross income fr
madam [21]

Answer:

Self employment tax will be $24000

So option (e) will be correct option

Explanation:

We have given that earning from outside consulting service = $30000

Deductible amount paid in connection with consulting service = $6000

We have to find the self employment tax

Self employment tax is the difference of earning from outside source and deductible amount

So self employment tax = $30000 - $6000 = $24000

So option (e) will be correct option

5 0
3 years ago
Other questions:
  • Assume that computers are a normal good. How will an increase in buyers’ incomes impact the market for computers? a) Demand for
    9·1 answer
  • For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have four attributes. Which
    13·1 answer
  • As a long-term investment at the beginning of the 2021 fiscal year, Florists International purchased 20% of Nursery Supplies Inc
    13·1 answer
  • Dalrymple Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $ 12 comma
    14·1 answer
  • When a tariff is imposed on a​ foreign-produced product, domestic producers receive a​ ________ price and domestic consumers pay
    8·1 answer
  • Drag the tiles to the boxes to form correct pairs.
    6·1 answer
  • Break-even sales and sales to realize operating income For the current year ended March 31, Cosgrove Company expects fixed costs
    14·1 answer
  • As price falls along a downward sloping ordinary demand curve (in the x1, p1 plane), consumer utility will Group of answer choic
    12·1 answer
  • Choose the correct definition of purchasing power parity.
    7·1 answer
  • The day they go on sale, Beth forgets her money to buy season tickets to the high school basketball games. Randall has extra cas
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!