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
GrogVix [38]
3 years ago
5

Doug and Sue Click file a joint tax return and decide to itemize their deductions. The Clicks' income for the year consists of $

89,000 in salary, $1,500 interest income, and $700 long-term capital loss. The Clicks' expenses for the year consist of $1,450 investment interest expense. Assuming that the Clicks' marginal tax rate is 35 percent, what is the amount of their investment interest expense deduction for the year
Business
1 answer:
Yuki888 [10]3 years ago
8 0

Answer:

$1,450

Explanation:

Interest Income = $1,500

Investment Interest expenses = $1,450

Allowed deduction limit investment interest is subject to investment income. So $1,450 is allowed as deduction

You might be interested in
This model focuses on the practitioner as the agent of the occupational environment,
Ainat [17]

Answer: A) The practitioner incorporating the principles of therapeutic use of self.

Explanation: The therapeutic use of the self is the ability of the therapist to be aware of himself and the patient and take care of what he communicates. It is as important as the techniques and knowledge and often makes the difference between success and failure in a treatment. By intervening therapeutically using our "I", counselling appears as a valuable tool that helps the therapist work more effectively to achieve the ultimate goal with the lowest possible personal cost.

4 0
3 years ago
Halp! I need an answer right away<br> Thank you
garri49 [273]

Answer:

see below

Explanation:

Revenue is the money a business receives by engaging in its normal trading activities. It is the money paid to the business for selling goods or services to clients.  For a business to be profitable, its revenues must exceed expenses.

If the business owner has revenue of $2000 and is finding it difficult to stay in business, it means the expenses are almost or more than $2000. Revenue, as stated, is generated from sales. Expenses refer to the costs incurred in generating revenue. They include the cost of materials, rent, wages, and all other business-related expenses.

When the expenses are more than revenue, the business suffers losses. This business owner is probably incurring losses; that's why they have a challenge in staying open.

7 0
3 years ago
Prior to adjustment at August 31, Salaries Expense has a debit balance of $272,650. Salaries owed but not paid as of the same da
zlopas [31]

Answer:

A. Dr Salary Expense $3,140

Cr Salary expense outstanding $3,140

B. Dr Income summary $275,790

Cr Salary expense $275,790

Explanation:

A. Preparation of the adjusting entry to record accrued salaries as of August 31

August 31

Dr Salary Expense $3,140

Cr Salary expense outstanding $3,140

(To record accrued salaries)

B. Preparation of the Closing entry on August 31

August 31

Dr Income summary $275,790

Cr Salary expense $275,790

($272,650+$3,140)

(To record Closing entry)

5 0
2 years ago
Sonia has been asked to act as an external auditor for her clients factory to determine the various liabilities that the client
jok3333 [9.3K]

Occupational Safety and Health Administration (OSHA) was created to ensure healthy and safe work environments for all workers. Being that the factory did not offer adequate ventilation, the workers could be at risk for harm, and be in violation of OSHA standards.

7 0
2 years ago
Read 2 more answers
DeKay Dental Supplies issued $10,000 of 20-year bonds on January 1, 2021. The bonds pay interest semiannually. This is a partial
valina [46]

Answer:

8%

Explanation:

Calculation to determine the stated annual rate of interest on the bonds

First step is to calculate Semi annual coupon rate

Semi annual coupon rate= 400 ÷ $10,000

Semi annual coupon rate= 4%

Now let determine the Annual rate of interest

Annual rate of interest= 4% × 2 (Semiannually)

Annual rate of interest= 8%

Therefore the stated annual rate of interest on the bonds is 8%

7 0
2 years ago
Other questions:
  • Originally, filters for Mr. Coffee electric-drip coffeemakers were sold through appliance and mass merchandise stores. If the co
    5·1 answer
  • There is a 3 percent defect rate at a specific point in a production process. If an inspector is placed at this point, all the d
    12·1 answer
  • When defining the issue for which a decision has to be made, framing the issue in a positive way _____. a. Allows everyone to fe
    12·2 answers
  • Marketers who design and offer new products and services to their existing customers are pursuing a _________ growth strategy.
    5·1 answer
  • Prepare the journal entry to record Zende Company’s issuance of 66,000 shares of $5 par value common stock assuming the shares s
    11·1 answer
  • In an economy with equilibrium prices and quantities, producers are using their resources in a(n) _____ way.
    10·2 answers
  • A 12-month insurance policy was purchased on Dec. 1 for $3,600 and the Prepaid insurance account was increased for the payment.
    12·1 answer
  • Pleaseeeeeeeeeee follow on the gram at FelineKrew!!!!
    6·2 answers
  • Incapacity or death, bankruptcy, or destruction of property are examples of circumstances where agency terminates by ______.
    5·1 answer
  • Joshua controls all the pay​ rates, raises, and bonuses in your department. He is also able to assign you to an interesting work
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!