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GREYUIT [131]
3 years ago
11

Which of the following is deductible as interest on Schedule A? a.Interest on a loan for a 90-foot yacht (a qualified residence)

with a kitchen, 3 baths and 5 bedrooms. b.Interest on loans to finance tax-exempt bonds. c.Loan fees that are not "points". d.Fees for having a new home inspected prior to purchase. e.None of these choices are deductible as interest.
Business
1 answer:
vodomira [7]3 years ago
5 0

Answer:

Correct option is A.

<u>Interest on a loan for a 90-foot yacht (a qualified residence) with a kitchen, 3 baths and 5 bedrooms</u>

Explanation:

Assesses are permitted a conclusion for unmistakable intrigue paid or collected during the expense year. Sum and sort of derivation is reliant intentionally for which cash is obtained. Enthusiasm on credit for lease, business and eminence exercises is deducted for balanced gross pay. Enthusiasm on credit if there should be an occurrence of individual utilise like speculation intrigue, qualified home intrigue, contract intrigue prepayment punishments, intrigue identified with aloof action. Enthusiasm on credit used for buying resources producing charge excluded salary isn't deductible.

 

Following interest is not deductible as an itemised deduction:

1. Credit investigation fees

2. Service charges

3. Premium on convertible bonds

4. Interest paid to carry single premium life insurance  

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LIFO uses the ______ unit costs for Cost of Goods Sold on the income statement and the ______ unit costs for Inventory on the ba
Tasya [4]

LIFO uses the last unit costs for Cost of Goods Sold on the income statement and the first unit costs for Inventory on the balance sheet.

<h3>What is LIFO?</h3>

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

For example, if beginning inventory consists of 10 units at $10 per unit. In the middle of the month, 10 units were bought at $15 per unit. At the end of the month, 10 units were sold. Using LIFO, the cost of goods sold would be $150 ( 10 x 15). Ending inventory would be $100 ($10 x 10).

To learn more about LIFO, please check: brainly.com/question/13779572

3 0
2 years ago
Olga buys a bag of potato chips every day after her economics class. The first potato chip always tastes wonderful. The second d
xxMikexx [17]
Olga buys a bad of potato’s so B
5 0
3 years ago
Which of the following terms is not part of RIASEC? realistic (Doers) investigative (Thinkers) authoritative (Can do Attitude) s
Aleks04 [339]
<h2>Answer </h2>

Option 3 - Authoritative(can do attitude).

<u>Explanation</u>

RIASEC is the Holland codes which refer to a theory about careers and vocational choice that was initially developed by an American psychologist named John L. Holland. There are six personalities in this theory which include practical, investigative, creative, cultural, ambitious and traditional only. There is no space of authoritative because there is no negativity in this theory as one person has the power, control or influence and make decisions. This can also be misused by many people which is why it is not included in this theory.

8 0
2 years ago
Eastern Electric currently pays a dividend of about $1.64 per share and sells for $27 a share.
Gre4nikov [31]

Answer:

a. 9.07%

b. 5.93%

c. 12.07%

Explanation:

Dividend valuation method is used to calculate the the value of stock based on the dividend paid, its growth rate and rate of return.

Stock Price = Dividend / ( Rate of return - Growth rate )

a.

$27 = $1.64 / ( Rate of return - 3% )

Rate of return - 0.03 = $1.64 / $27

Rate of return - 0.03 = 0.0607

Rate of return = 0.0607 + 0.03

Rate of return = 0.0907 = 9.07%

b.

$27 = $1.64 / ( 12% - Growth rate )

0.12 - Growth rate = $1.64 / $27

0.12 - Growth rate = 0.0607

Growth rate = 0.12 - 0.0607

Growth rate = 0.0593 = 5.93%

c.

$27 = $1.64 / ( Rate of return - 6% )

Rate of return - 0.06 = $1.64 / $27

Rate of return - 0.06 = 0.0607

Rate of return = 0.0607 + 0.06

Rate of return = 0.1207 = 12.07%

4 0
3 years ago
The management of Penfold Corporation is considering the purchase of a machine that would cost $270,000, would last for 5 years,
Lorico [155]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Initial investment= $270,000

Cash flow= $60,000

Number of years= 5

Discount rate= 12%

<u>To calculate the net present value (NPV), we need to use the following formula:</u>

NPV= -Io + ∑[Cf/(1+i)^n]

∑[Cf/(1+i)^n]:

Cf1= 60,000/1.12= 53,571.43

Cf2= 60,000/1.12^2= 47,831.63

.....

Cf5= 60,000/1.12^5= 34,045.61

∑[Cf/(1+i)^n]= 216,286.57

<u>Now, the NPV:</u>

NPV= -270,000 + 216,286.57

NPV= -53,713.43

5 0
3 years ago
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