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zhannawk [14.2K]
3 years ago
9

Gina loaned Tom $50,000. Tom signed a note the terms of which called for monthly payments of $2,000 plus 6% interest on the outs

tanding balance. In 2018, when the balance owing on the loan was $18,000, Tom defaulted on the note. As of the end of 2018, there appeared to be no reasonable prospect of Gina recovering the $18,000. As a consequence, Gina claimed the $18,000 as a nonbusiness bad debt. In 2018, Gina had AGI of $50,000, which included $16,000 of net long-term capital gains. Gina did not itemize her deductions. In 2019, Tom paid Gina $13,000 in final settlement of the loan. How should Gina account for the payment in 2019
Business
1 answer:
Liula [17]3 years ago
7 0

Answer:

Gina must report the $13,000 as income for the current year.

Explanation:

According to the tax benefit rule, any recovered expense ($13,000) must be included as income in the extent at which it resulted in a tax benefit.

Since Gina had a net $16,000 long term capital gains that were offset by her $18,000 loss, the $13,000 will partially replace most of the capital gains that were reduced the previous year.

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Long-Life Insurance has developed a linear model that it uses to determine the amount of term life insurance a family of four sh
jolli1 [7]

Answer:

y=160.9

Explanation:

<u>Linear Modeling</u>

Models are an important part of the study of a variety of natural phenomena in a great number of fields like science, health, business, human behavior, economics, among many others.

Once a model is determined, it can be used to estimate future values of important variables which in turn can help people to make decisions.

It has been determined a model that relates the amount of term life insurance a family of four should have with the current age of the head of the household. That model is

y=165-0.1x

we are required to estimate the amount of term life insurance to recommend to a family of four when the head of the household is x=41 years old. Let's plug in the given value in the equation

y=165-0.1\cdot 41=165-4.1=160.9

\boxed{y=160.9}

7 0
3 years ago
In the _____ stage of the advertising development process, Fallon account managers and clients must set the campaign budget. Cam
fgiga [73]

Answer:

Planning Phase

Explanation:

6 0
2 years ago
2. If you run out of legal pads at home and there are several cases of legal pads at work, what
Tresset [83]

We have to ask our coworkers if they think it is okay if we take one.

Option C

<u>Explanation: </u>

In work ethics, workers are not permitted to work stationary for home use because the content is meant to be used for workplace purposes. A legal pad can be removed without permission from school, and stealing should therefore be discouraged. Consult with the store man in charge to permit you to take the office to be used at home.

In fact, materials at work are designed to enable people to do their job. Therefore you don't just steal items, you also every the workplace's capacity. And afterwards the time comes for the individual to work with the supplies that were missing. You rob profitability, thus.

7 0
3 years ago
Read 2 more answers
In which investment category are fair values and subsequent growth of an investee not relevant for reporting?
Iteru [2.4K]

Answer:

The correct answer is <em>held-to-maturity securities</em>.

Explanation:

Securities held until expiration (HTM) are purchased to be held until expiration. The management of a company could invest in a bond that they plan to hold until they expire. As a result, there are different accounting treatments for retained securities until maturity compared to securities that must be settled in the short term.

4 0
3 years ago
Find a current news article (within one week) related to business or technology. Your article can be from a newspaper, the
klasskru [66]

Answer:

Everyone has seen organizations and agencies make a case for their cause on the television, newspaper and radio. We have all heard stories about how a media consultant has helped improve a political candidate's image by cleverly manipulating the press. There are many ways you can use the media to the benefit of your cause. This section introduces you to working with the media.

WHAT ARE THE MEDIA AND MEDIA ADVOCACY?

Media, which is the plural form of 'medium', are the forms of communication – television and radio; newspapers, magazines, and written materials (or "print media"), and, more often now, the Internet – used to spread or transmit information from a source (which can be a person, an organization, a business, an institution, a government agency, a policy maker, or another media outlet) to the general public.

Advocacy means openly supporting a certain viewpoint or group of people. If you are an advocate for a specific cause, you work to persuade local, state, or federal governments or other entities to grant specific rights, make policy changes, provide money, or create new laws for the good of your cause. For example, if you have a child with a disability, you might advocate for the increased availability of medical services for handicapped children in your city.

Media advocacy is the use of any form of media to help promote an organization's or a company's objectives or goals, which come from the group's vision and mission. For example, suppose you’re a media advocate for a non-profit agency working to reduce gang violence in your neighborhood. You would try to present neighborhood issues related to gang violence and the changes you want to make in such a way that you:

Change the way community members look at gang violence. You might want to make it clear who it affects and why, or why kids get involved in gangs in the first place.

Create a reliable, consistent stream of publicity for your agency's issues and activities, including articles and news items about the causes and results of gang violence and about what your agency’s work entails; personal interest stories; success stories; interviews with agency staff and current and former gang members, etc..

Motivate community members and policy makers to get involved.  You probably have ideas about what could be done with public funding, or with government policies that addressed gang violence. You might have volunteer opportunities, or want to publicize a city- or state-sponsored initiative that needs public input and support.  Or perhaps you’re trying to raise money for your work. The media can help with all of these...if you know how to work with them.

Media advocates, or the people who work to attract publicity for organizations and causes, know that the media can get a public or social policy message across to the largest audience possible in the least amount of time.

As a media advocate, you can use the media to:

.

Explanation:

7 0
3 years ago
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