1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Grace [21]
3 years ago
7

Bill is the owner of a house with two identical apartments. He resides in one apartment and rents the other apartment to a tenan

t. The tenant made timely monthly rental payments of $550 per month for the months of January through December 2018. The following expenses were incurred on the entire building:
Utilities $3, 600
Maintenance and repairs $900
Insurance $500

In addition, depreciation allocable to the rented apartment is $1, 500.What amount should Bill report as net rental income for 2015?

A. $100
B. $2, 600
C. $0
D. $1, 400
E. None of these choices are correct.
Business
1 answer:
Mnenie [13.5K]3 years ago
5 0

Answer:

B. $2,600

Explanation:

The computation of the net rental income is shown below:

= Monthly rental payments × total number of months in a year - (utilities + maintenance & repairs  + insurance) × percentage - depreciation expense

= $550 × 12 months - ($3,600 + $900 + $500) × 50% - $1,500

= $6,600 - $2,500 - $1,500

= $2,600

Since only one apartment is on rent so we considered the expenses of the building at 50% not full value and the same is applied above

You might be interested in
Initially, when a firm hires a fourth worker, its wage rate goes from $80 a worker to $90. The marginal revenue product of the f
max2010maxim [7]

Answer:

increase by $10.  

Explanation:

The marginal cost of hiring a fourth worker is already $90. This means that any price floor (minimum wage) imposed by the government will not affect this worker or the company because his/her wage was already equal to the new minimum wage.

The firm's profit = marginal revenue product - marginal cost = $100 - $90 = $10.

5 0
3 years ago
Staff-level briefings are conducted by the supervisor to introduce co-workers, clarify tasks, define the scope of work, describe
jenyasd209 [6]

Answer:

A)TRUE

Explanation:

This type of briefings are normally conducted at the beginnig of an assignment and if it neccesary at any time that it is neccesary

Other kind of briefings are:

  • Field-Level Briefing
  • Section-Level Briefing
4 0
3 years ago
Pompeii, Inc., has sales of $46,200, costs of $23,100, depreciation expense of $2,200, and interest expense of $1,700. If the ta
ycow [4]

Answer:

The net operating cashflows are 18,876 dollars.

Explanation:

Operating cashflows are cashflows which an entity generates from it core operations. In other words cash flow related to investment and finance activities do not form part of an entity operaing cashflows.

So in this example interest will not be part of operating cashflows.

For more details please refer to below given calculations.

OCF

Sales       46,200

Cost         (23,100)

Tax            (4,224) (W-1)

OCF          18,876

(W-1)  Calculating profit to find tax paid

(46,200-23,100-2,200-1,700)*22%

5 0
4 years ago
When treasury stock is purchased for an amount greater than its par, what is the effect on total shareholders' equity?
fomenos

When treasury stock is purchased for an amount greater than its par then the total shareholders' equity decreases.

Given that the treasury stock is purchased for an amount greater than its par.

We are required to find the effect of the purchase of treasury stock for an amount greater than its par on the total shareholders' equity.

Treasury stock is basically known as treasury shares or reacquired stock, and refers to previously outstanding stock that is bought back from stockholders by the issuing company. The result of issuing treasury stock is that the total number of outstanding shares on the open market decreases. Shares of a company are a part of total shareholders' equity and because shares are issued for security, it will decrease the total shareholders;equity.

Hence when treasury stock is purchased for an amount greater than its par then the total shareholders' equity decreases.

Learn more about treasury stock at brainly.com/question/17439058

#SPJ4

8 0
2 years ago
Which of the following statements is CORRECT?a. Ethical behavior is not influenced by training and auditing procedures. People a
Yakvenalex [24]

Answer: b. . If someone deliberately understates costs and thereby causes reported profits to increase, this can cause the stock price to rise above its intrinsic value. The stock will probably fall in the future. Both those who participated in the fraud and the firm itself can be prosecuted.

Explanation:

Ethics in business ad organization is very vital towards the accomplishment of goals in every organization. Ethical behavior can be influenced by training and auditing procedures.

It should be noted that when someone understates the cost intentionally maybe with the person trying to steal from the company. This can lead to the reported profits of the company to increase, and thereby cause the stock price to rise above its intrinsic value.

If eventually the stock will fall in the future, everyone who took part in this fraudulent activity and even the company itself can be prosecuted. Performing in fraudulent activities by a company or its workers will make the individuals or the company lose the trust of its clients.

Option B is the correct answer.

5 0
3 years ago
Other questions:
  • Night Shades, Inc. (NSI), manufactures biotech sunglasses. The variable materials cost is $11.13 per unit, and the variable labo
    13·1 answer
  • The production budget shows expected unit sales of 40000. Beginning finished goods units are 3800. Required production units are
    5·1 answer
  • Consider the following case: Andre is an amateur investor who holds a small portfolio consisting of only four stocks. The stock
    10·1 answer
  • If U.S. residents chose to travel overseas less due to concerns about the safety of foreign travel, then in the open-economy mac
    13·1 answer
  • The cost of debt capital The cost of debt that is relevant when companies are evaluating new investment projects is the marginal
    6·1 answer
  • When your budget is $100, does that mean you actually have $100 to spend?
    12·2 answers
  • If the marginal cost for oligopolies or cartels suddenly fell due to a new technology, then these firms would also be forced to
    12·1 answer
  • Which of the following statements about investing is
    9·1 answer
  • The bank allows you to borrow money up to a specific amount
    13·2 answers
  • Assume the current U.S. dollar-yen spot rate is 125¥/$. Further, the current nominal 180-day rate of return in Japan is 3% and 4
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!