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
Paraphin [41]
3 years ago
15

Mickey and Jenny Porter file a joint tax return, and they itemize deductions. The Porters incur $2,000 in investment expenses. T

hey also incur $3,000 of investment interest expense during the year. The Porters’ income for the year consists of $150,000 in salary and $2,500 of interest income. Problem 7-56 Part-a a. What is the amount of the Porters’ investment interest expense deduction for the year?
Business
1 answer:
Reil [10]3 years ago
4 0

Answer:

Please check the following explanation

Explanation:

Capital losses are not included in the calculation of net investment income. Therefore, $2,000 long-term capital loss would have no effect on investment income. Thus, Porters' investment income will remain $2,500.

Consequently, Porters' can deduct $2,500 of the investment interest expense and the remaining $500 of investment interest expense will be carried over to next year.

You might be interested in
Which theorist argues that members of a class are grouped by their value in the commercial marketplace?
Trava [24]
The theorist that is referred above is MAX WEBER. He is the theorist who asserts that class members should be grouped according to their value in the marketplace. Max Weber is a well-known German sociologist, and a prominent figure in sociology. 
4 0
3 years ago
What management function is production manager Cedric Stein using when he orders aluminum component parts (bumpers, drive trains
N76 [4]

Answer:

Purchasing

Explanation:

In the purchasing function, the company purchased the products and services from the manufacturer at a lesser cost and then sell the goods at higher prices in order to earn the profit.

When someone purchases, when the price is less and quality is best as compared with the competitors dealing in the same industry

Therefore in the  given case, Cedric Stein orders aluminum component parts that are used in the Audi card production so here the purchasing function is used

5 0
3 years ago
All countries benefit from each of the following factors except which one?
Artemon [7]
A. ACCESS TO INFORMATION
6 0
2 years ago
Wolery Inc. has provided the following data concerning one of the products in its standard cost system. Inputs Standard Quantity
nadezda [96]

Answer: The labor efficiency variance for the month is closest to: $2576

Explanation:

Given:

Actual output 8,800 units

Actual direct labor-hours 1,610 hours

Actual direct labor rate $ 23.30 per hour

The labor efficiency variance for the month is computed as :

The labor rate variance = Actual hours×(Actual rate - Standard rate)

=1610 ×($23.30-$21.70)

=$2576

7 0
3 years ago
Read 2 more answers
Suppose that in an attempt to induce citizens to conserve energy, the government enacts regulations requiring all air conditione
Nana76 [90]

Answer:

(A) Because the regulation effectively reduced the price of cool air, consumers with sufficiently elastic demand might have bought substantially more of it.

Explanation:

If the demand for energy services remains constant, improving energy efficiency will reduce energy consumption and carbon emissions. However, many efficiency improvements do not reduce energy consumption by the amount provided by simple engineering models. This is because they make energy services cheaper and therefore increases the consumption of those services.

For example, since low-fuel vehicles make travel cheaper, consumers can choose to drive further, thus offsetting some of the possible energy savings. Similarly, an extensive historical analysis of improvements in technological efficiency has conclusively demonstrated that improvements in energy efficiency were almost always overcome by economic growth, which resulted in a net increase in resource use and associated contamination.

3 0
3 years ago
Other questions:
  • The market demand for wheat is Q = 100 − 2p + 1pb + 2Y . If the price of wheat, p, is $2, and the price of barley, pb, is $3, an
    9·1 answer
  • North america is about 80% urbanized. this mean that about 75% of north american
    9·1 answer
  • How is conduction and radiation alike to convection
    13·1 answer
  • In a free-market economy, firms face some degree of uncertainty, or risk. Some of this risk is controllable, and some is not. Id
    8·1 answer
  • A voltage of 50 V appears across a 20-μF capacitor.
    10·1 answer
  • Like a good economist, you calculated the opportunity cost of getting your college degree. Suppose that at your university, you
    13·1 answer
  • Geraldine Parker, the owner of Gi Grs Dance Studio, Inc., started the business by investing $10,000 cash and donating a building
    10·1 answer
  • Which of the following demonstrates responsibility?
    6·1 answer
  • An account into which a person deposits money and then can withdraw funds by making a written order to the bank instructing it t
    9·1 answer
  • In a(n) __________ marketing channel, several independent members each attempt to satisfy their own objectives and maximize thei
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!