The amount they can take as deduction for the loss on the sale of their home is; $0.
<h3>How much can they take as deduction for the loss on the sale?</h3>
It follows that deductions can only be taken on losses incurred on the sale of property used for business or investment purposes.
Hence, since the item sold is their personal home, it follows that they cannot take any deduction on the loss on the sale.
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Answer:
A) cognitive
Explanation:
Since in the question it is mentioned that three persons are working for DavidSon international. All three have in their positions in the company but Willy received a small raise after considering the evaluation of last performance
In case when Thad complained regarding the raise so he was experiencing a cognitive attitude that deals in belief, knowledge, thoughts of a particular person
hence, the correct option is A.
Answer:
C. $370,000
Explanation:
Poodle Corporation was organized on January 3, 2011. The firm was authorized to issue 100,000 shares of $5 par common stock.
During 2011, Poodle had the following transactions relating to shareholders' equity:
Issued 30,000 shares of common stock at $7 per share.
Issued 20,000 shares of common stock at $8 per share.
Reported a net income of $100,000.
Paid dividends of $50,000.
Therefore total Paid-in capital at the end of 2011 is derived by :
(30,000 shares x $7) + (20,000 x $8) = $370,000
Paid - In capital refers to the funds that stockholders have invested through the purchase of stock from the issuing company, including premiums and not just par value.
Answer:
Correct option is (c)
Explanation:
Face value of bond is $1,000. If investors feel that bond issued by Springfield is less attractive than other bonds, this means either the bond is offering a coupon rate lower than market interest rate prevailing in the market as compared to other bonds.
In this case, bond will be sold at a price lower than its face value. This is also called discount bonds. Price of the bond falls as investors feel they can buy a similar bond that offers better returns.
Out of all options, $875 is lower than face value of $1,000, so, bond would be most likely sold at $875.
