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
Which of the following roles is responsible for writing programming code?
jok3333 [9.3K]
We can't answer this question because you didn't show the "following"
7 0
3 years ago
Jean Claude has just completed a new line of designer handbags. He wants the price to communicate to the customer that the handb
Leno4ka [110]

Answer:

The answer is B. Price Skimming

Explanation:

In marketing, price skimming is a situation in which a high price is initially charged for a product and lowers it later after achieving its aim.

This type of product can be a luxury good in which high price is deemed as of high quality. The main aim is to gather enough revenue from the premium buyers and lowers it later to attract other customers

.

Price Skimming is usually set for products that have short life-cycle

7 0
3 years ago
Stanford owns and operates two dry cleaning businesses. He travels to Boston to aquire a restaurant. Later in the month, he trav
Olegator [25]

Answer:

$4,522

Explanation:

As the restaurant is not acquired so the amount of $28,000 would be non-deductible

Also if the expenses is incurred so the maximum deduction allowed is in excess of $50,000 is $5,000

Now

= $51,000 - $50,000

= $1,000 reduction

And,  

= $5,000 - $1,000

= $4,000 deduction

Now

= $51,000 - $4,000

= $47,000

Now

= $47,000 ÷ 180 months

= $261 × 2 months

= 522

Now total deduction is

= $4,000 + $522

= $4,522

4 0
2 years ago
The impact lag facing the Fed is
Annette [7]

Answer: A: the time required for monetary policies to take effect

Explanation:

The impact lag also known as the response lag is the time it takes for corrective monetary and fiscal policies, designed to smooth out the economic cycle or respond to an adverse economic event, to affect the economy once they have been implemented.

For instance, during the last recession, several policies were introduced by the government to manage the situation . The time it takes for the citizens to feel the impact of these policies is known as the impact lag phase.

6 0
3 years ago
Bonita Realty Management Co. received a check for $32,400 on August 1, which represents a one year advance payment of rent on an
ludmilkaskok [199]

Answer:

Explanation:

The adjusted journal entry is shown below:

Unearned rent revenue A/c Dr

      To Rent revenue A/c

(Being the adjusted entry of rent is recorded)

The computation of the rent revenue is shown below:

= Received amount × number of months ÷ (total number of months in a year)

= $32,400 × (5 months ÷ 12 months)

= $13,500

The 5 months is calculated from August 1 to December 31

3 0
3 years ago
Other questions:
  • Phoenix, a salesperson for Quality Fruit, Inc., shows Robert, a buyer for Sweet Home Fruit Company, samples of peaches, stating
    5·1 answer
  • In business, failure usually means what?
    8·1 answer
  • Layla Company began making mascara in November 2018 using a single-step process. Layla incurred $42,000 for materials and $48,64
    15·1 answer
  • For which of the following goods is the income elasticity of demand likely highest?
    7·1 answer
  • A(n) _____ is a characteristic that consumers may have difficulty assessing even after purchase because they do not have the nec
    13·1 answer
  • Statistics indicate that over half of the world output now comes from emerging markets. This is leading to a(n) ___________ of l
    7·1 answer
  • American​ Exploration, Inc., a natural gas​ producer, is trying to decide whether to revise its target capital structure. Curren
    11·1 answer
  • What are the three workplace violence prevention strategies covered in this module? A. Employer and employee involvement, remain
    7·1 answer
  • At the beginning of 2018, Artichoke Academy reported a balance in common stock of $168,000 and a balance in retained earnings of
    12·1 answer
  • Many people who do not smoke cigars are bothered by the odor of cigar smoke. If private contracting is impossible, will too many
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!