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inna [77]
3 years ago
14

Ms. Jorgen recently moved from Boston to Pittsburgh to take a job with OP Inc. She sold her home in Boston and OP paid the $14,5

00 realtor's commission on the sale. The amount that Ms. Jorgen will report on her income tax return as income from this payment is_____________.
Business
1 answer:
drek231 [11]3 years ago
5 0

Answer:

Ms. Jorgen will report only the Taxable gain and losses from the purchase and will not report the commission paid for by OP Inc

Explanation:

Gross Income Definition is total amount( the amount is $14500), in cash(the $14500 is cash) or otherwise ( asset value), Accrued to, received by or in favor of ( the amount of $14500 is in paid in favor of her) and must not be of a capital nature ( the commission is of a capital nature. Therefore it will not be reported as income.

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Bismith Company reported: Actual fixed overhead Fixed manufacturing overhead spending variance Fixed manufacturing production-vo
max2010maxim [7]

Answer:

D. Debit fixed manufacturing overhead spending variance for $40,000

Explanation:

Since fixed manufacturing overhead shows the difference between the actual fixed overhead costs and budgeted fixed overhead cost during a period, Bismith would debit fixed manufacturing overhead spending variance of $40,000 inorder to write off the recording of the variances at the end of the accounting period because the value for fixed manufacturing overhead spending variance has already being gotten hence would be applied at the end of the period.

5 0
3 years ago
What is the business <br>​
Lisa [10]

pls follow me

Explanation:

The term "business" also refers to the organized efforts and activities of individuals to produce and sell goods and services for profit.

5 0
3 years ago
Week 5 Rachel is a financial investor who actively buys and sells in the securities market. Now she has a portfolio of all blue
Ivahew [28]

Answer: The answer is provided below

Explanation:

The weights of assest in Rachel's portfolio: = amount in each stock ÷ sum of the amounts invested in all stocks.

Share Amount Weight

A. 13500. 0.33

B. 7600. 0.18

C. 14700. 0.36

D. 5500. 0.13

Total 41300

Note that weight = amount/total

Geometric average return of a portfolio:

((1+R1)×(1+R2)×(1+R3)....×(1+Rn))^(1/n) - 1

where,

R1= return of period 1

Rn= return in nth period

Hence, the geometric average return of Rachel's portfolio will be:

((1+9.7%)×(1+12.4%)×(1-5.5%)×(1+17.2%))^(1/4) - 1

= 8.10 % (approximately) per year.

Using the nominal rate of return which includes inflation:

CAPM: Required return will be:

= Risk free return + (Risk premium × Beta)

13.6 = Risk free return + (4.8 × 1.5)

13.6 = Risk free return + 7.2

Risk free return = 13.6 - 7.2

= 6.4% which is not inflation adjusted)

The inflation adjusted rate of return will be:

= (1+return)/(1+inflation rate))-1

= ((1+13.6%)/(1+2.7%))-1

= 10.61%

Using CAPM:

10.61= Risk free return + (4.8 × 1.5)

10.61 = Risk free return + 7.2

Risk free return = 10.61 - 7.2

Risk free return = 3.41% (at real rates)

In practice, the use of inflation adjusted return i.e the real rate of return which is 10.61% is better as it puts forth a long term perspective on how a stock is performing.

4 0
3 years ago
The following are the assets and liabilities of Jill Carlson Realty​ Company, as of January ​31, 2018. Also included are​ revenu
pogonyaev

<u>Complete Question:</u>

Apply the accounting equation; construct a balance sheet) The following are the assets and liabilities of Jill Carlson Realty Company, as of January 31, 2018. Also included are revenue, expense, and selected stockholders' equity figures for the year ended on that date (amounts in millions):

Complete Table is in the attachment given at the end of the answer.

Requirement 1.

Construct the balance sheet of Jill Carlson Realty Company at January 31, 2018. Use the accounting equation to compute ending retained earnings.

<h2>Answer:</h2>

Balance Sheet of Jill Carlson Realty​ Company, as of January ​31, 2018

<h2><u>ASSETS</u></h2>

Current Assets

Cash                                                                          $57.2

Receivables                                                              $0.5

Non Current Assets

Investment Assets                                                     $79.4

Property, Plant and Equipment                                 $1.6

Other Assets                                                          <u>    $9.3    </u>

Total Assets                                                           <u>    $148    </u>

<h2><u>LIABILITIES</u></h2>

Current Liabilities                                                      $2.9

Non Current Liabilities                                          <u>   </u><u>$102.6</u>

Total Liabilities                                                       <u>   $105.5 </u>

<u>EQUITY</u>

Common Stock                                                           $39.2

Closing Retained Earnings (Step1)                         <u>    $3.3   </u>

Total Equity                                                             <u>     $42.5</u>

<u></u>

<u>Step 1: Find Closing Retained Earnings</u>

As we know that:

Closing Retained Earnings = Total Assets - Total Liabilities - Common Stock

Here

Total Assets is $148 million

Total liabilities is $105.5 million

Common Stock is $39.2 million

By putting these values in the above equation, we have:

Closing Retained Earnings = $148 million  -  $105.5 million  -  $39.2 million

Closing Retained Earnings = <u>$3.3 million</u>

7 0
3 years ago
One employee is in charge of the following activities at a drive-through of a bank: Activity Activity Time per Customer Greet cu
LiRa [457]

Answer:

26.67

Explanation:

Processing Time = 2 sec + 3 sec + 2 min + 10 sec

2 minutes = 2 x 60seconds = 120

Processing time = 120 + 2+ 3 + 10

= 135 sec

Process Capacity

= 1/135 x 60 (sec/min)

= 0.007407 x 60

= 0.44444

0.44444 x 60 (min/hr)

= 26.67

4 0
3 years ago
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