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Aliun [14]
3 years ago
8

This year Randy paid $28,000 of interest. (Randy borrowed $450,000 to buy his residence, which is currently worth $500,000.) Ran

dy also paid $2,500 of interest on his car loan and $4,200 of margin interest to his stockbroker (investment interest expense). How much of this interest expense can Randy deduct as an itemized deduction under the following circumstances?
a. Randy received $2,200 of interest this year and no other investment income or expenses. His AGI is $75,000.
Interest Deductible $.......

b. Randy had no investment income this year, and his AGI is $75,000.
Interest Deducttible $.......
Business
1 answer:
KATRIN_1 [288]3 years ago
3 0

Answer:

A.- Randy can deduct $30,200  The interest on the loan of the car is nondeductible personal interest, but he can deduct all $28,000 on the home loan as an itemized deduction.   The $4,200 of margin interests is likely investment interest, and this itemized deduction is limited oto net investment income. $2,200 of interest income qualifies as investment income and he apparently has no other invesstment expenses, the investment interest expense would be limited to Randy´s $2,200 in net investment.

B. He may deduct all %28,000 of his interest on the home loan

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Answer:

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Now we multiply this average balance by the interest rate of the credit card:

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The first step a domestic firm takes when entering an international arena is usually to create an international division.
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Answer:

The answer is: False

Explanation:

Whenever a company wants to go international it has a lot work to do before creating an international division. Several things must be done before, mostly research, for example:

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That should all be done before considering spending money on creating an international division.

Probably when the internet didn´t exist, communications were scarce, no Tv existed, people in one country didn´t know anything about other cultures, etc., a comp nay would have first created an international division to scout foreign markets but right now it doesn´t make sense.  

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Transactions in a Job Order Cost System Five selected transactions for the current month are indicated by letters in the followi
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Each of five transactions can be defined as follows:

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b) Work used in the factory  (both direct and indirect).

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For b)

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For c)

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For d)

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For e)

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