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Bumek [7]
3 years ago
9

Mike Hansen has adjusted gross income of $28,000. During the year, Mike decided he needed a larger home. He purchased a home on

a golf course in the same town as his first home. Mike incurred $7,500 in moving expenses. How much of this can he deduct from adjusted gross income?
Business
1 answer:
masya89 [10]3 years ago
4 0

Answer: The whole of $7,500 moving expenses

Explanation:Mike Hansen is entitled to the deduction of $7,500 moving expenses  from his adjusted gross income.  

The IRS now allows employees to deduct any moving expenses incurred by them to be deducted from their adjusted gross income before taxation.

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Specialization in production Group of answer choices Makes a country weak. Reduces the standard of living. Increases output. Dec
OLga [1]

Specialization in production will increase output.

As any specialization in production will be achieved by specialized labor or technology, both the factor will produce per unit time and gives a comparative advantage.

Specialization is a production method that focuses on the production of a limited range of goods for a company to achieve a higher level of efficiency.

The more they focus on their work, the more efficient they are in that work. This means less time and money is spent producing goods. In other words, you can produce more goods in the same amount of time and money.

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5 0
1 year ago
Use the DuPont system and the following data to find return on equity.(Do not round intermediate calculations. Round your answer
hjlf

Answer:Return on Equity= 37.1%

Explanation:

According to the DuPont Analysis System,  

Return on Equity = Leverage Ratio x Net profit margin x Total asset turnover

Return on Equity = 2.8 x 5.3% x 2.5

Return on Equity=0.371

Return on Equity= 37.1%

6 0
3 years ago
For the following items, specify whether information would be found in the balance sheet, the income statement, the statement of
marissa [1.9K]

1. Amount of bond liability Balance Sheet

2. Description of bond liability. Footnotes

3. Interest rates associated with bond issuances. Balance sheet

4. Interest paid for the period. Profit and Loss Account

5. Maturity dates associated with bond issuances. Balance sheet.

6. Cash interest paid during the period. cash flow statement.

A balance sheet (also known as a balance sheet or management report) is a personal Or a summary of the organization's financial balance. commercial entity.

Assets, liabilities, and equity are listed as of a specific date (such as the end of the fiscal year). A balance sheet is often referred to as a "snapshot of a company's financial position." of the four basic degrees.

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8 0
1 year ago
Brooks Corporation can sell all the units it can produce of either Plain or Fancy but not both. Plain has a unit contribution ma
Rus_ich [418]

Answer:

D. Make Plain which creates $6 more profit per machine hour than Fancy does

Explanation:

Brooks Corporation can sell all the units it can produce of either Plain or Fancy but not both. Plain has a unit contribution margin of $72 and takes two machine hours to make and Fancy has a unit contribution margin of $90 and takes three machine hours to make. There are 2,400 machine hours available to manufacture a product.

Brooks should make Plain which creates $6 more profit per machine hour than Fancy does.

4 0
2 years ago
When caroline's dress factory hires two workers, the total product is 50 dresses. when she hires three workers, total product is
Soloha48 [4]
<span>With the increase in the hiring of workers each time, the production of the dresses also increased though not too much of an increase. So the slope of the marginal product curve when two to four workers are hired is downward sloping.</span>
8 0
3 years ago
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