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3 years ago

Alexa owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo:

Business

1 answer:

Butoxors [25]3 years ago

5 0

Answer:

Part(A):

Total expenses in connection with condo:

= 2000 + 6500 + 2000 + 1400 + 2500 + 14500

= $28,900

Assuming Alexa receives $20,000 inn gross rental receipts, she will incur losses = 20000 -28,900 = (8,900)

As Alexa's AGI from all sources other than the rental property($200,000) is higher than $150,000, she will not be able to deduct any amount of loss against her active income.

Therefore the loss is not deductible and rental activity has no effect on her AGI.

Part(B):

Assuming that Alexa’s AGI from other sources is $90,000.

Since her AGI is less $100,000, she will be able to deduct loss of $8,900

Therefore, rental activity loss will reduce Alexa's AGI to = 90,000 - 8.900 = 81,100

The rental activity loss will reduce her AGI by $8,900 and her AGI would be 81,100.

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For purposes of allocating joint costs to joint products, the estimated net realizable value at split-off is equal to A. final s

Marta_Voda [28]

Answer:

A. Final sales price reduced by cost to complete after split-off.

Explanation:

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A conservative approach means that the accountant should use the accounting method that generates less profit and does not overstate the value of assets.

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3 years ago

N the models that describe population growth, r stands for _____

nadezda [96]

In the models that describe population growth, r stands for per capita population growth rate

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4 years ago

Jars of pickles are sampled and weighed. sample measures are plotted on control charts. the ideal weight should be precisely 11

Anvisha [2.4K]

Answer:

c. both x-bar chart and r-chart.

Explanation:

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Both x-bar chart and r-chart can be used to monitor the process.

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4 years ago

Most companies allocate facility-level activity costs directly to products for decision-making purposes.True or false?

Finger [1]

Answer:

False

Explanation:

Facility-level costs are being the type of activity based cost activities and it simply sustains a facility’s general manufacturing process. We can say some samples about this type of costs:

1) The costs about depreciation or rent of a factory building

2) The costs about salary of a plant manager

3) The costs about insurance, taxes, etc.

4) The costs about training

As you see all about this cost mentioned only in manufacturing processes not in decision making.

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3 years ago

Product A is normally sold for $9.60 per unit. A special price of $7.20 is offered for the export market. The variable productio

elixir [45]

Answer:

A. Reject (Alternative 1) $0.00

Accept (Alternative 2) $1.12

Differentials Effect on income (Alternative 2) $1.12

B. Accepted (Alternative 2)

Explanation:

a. Preparation of a differential analysis dated March 16 on whether to reject (Alternative 1) or accept (Alternative 2) the special order.

DIFFERENTIAL ANALYSIS

Reject (Alternative 1) or Accept (Alternative 2)

March 16

Reject Accept Differentials Effect on income

(Alternative 1) (Alternative 2) (Alternative 2)

Revenue per unit $0.00 $7.20 $7.20

Costs:

Variable manufacturing costs per unit

$0.00 -$5.00 -$5.00

Export tariff per unit

$0.00 -$1.08 -$1.08

($7.20*15%=$1.08)

Income (Loss) per unit $0.00 $1.12 $1.12

b. Based on the above differential analysis

the special order should be ACCEPTED (Alternative 2).

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3 years ago