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Paraphin [41]
2 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]2 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.

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In the market for breakfast cereal, the market is currently in equilibrium. suddenly there is a storm that destroys the wheat th
Reika [66]

The answer is<u> "Supply will decrease."</u>


A storm that crushed the wheat products would make the cost of that grain to rise. Given that grains are a critical contribution to the make of oat, the ascent in the cost of grain speaks to an expansion in input costs for oat. This is spoken to in the grain advertise as a leftward move of the supply bend and no adjustment in the demand curve.

7 0
2 years ago
1. While FF was started 40 years ago, its common stock has been publicly traded for the past 25 years. 2. The returns on its equ
Marina CMI [18]

Answer:

hello some details/parts of your question are missing attached below is the missing part

answer : A ) = 24.13%

              B ) =  0.1084, The preceding data series represents a SAMPLE        

              C ) =  0.4494

Explanation:

A) The average realized  return on FF stock can be calculated as

= 24% + 16.15% + 29% +39.9% + 12.35% / 5

= 24.13%

B) The preceding data series represents a SAMPLE  standard deviation BECAUSE RETURNS WERE MADE ONLY FOR FIVE YEARS

and the sample standard deviation is calculated as

s^2 = \frac{summation ( x - mean vale)^2}{N-1}

S^2 = \frac{0.0470383}{ 5 -1 }  =   0.01175056

s = \sqrt{0.01175056} = 0.1084

C) coefficient of variation

coefficient of variation = standard deviation / mean

                                      = 0.1084 / 0.2413 = 0.4494

                                                     

8 0
3 years ago
Actism<br>What is nowcasting? (5 marks)​
Greeley [361]

Explanation:

yan po sana makatulong

pa brainliest nadin po kung nagustuhan nyo yung sagot

6 0
2 years ago
What is a cancelled check?
melisa1 [442]

Answer:

Explanation:

A cancelled check is a check payment for which the stated amount of cash has been removed from the payer's checking account. Once the cash draw down is completed, the bank stamps the check as cancelled. ... Paid by the drawee bank to the payee bank. Cash is paid into the payee's account by the payee bank

3 0
3 years ago
The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery service firm,
quester [9]

Answer:

          Urgent Messenger Service

                Income Statement

for the fiscal year ended November 30, 20Y1

                                             $                 $

Fees Earned                                       990,000

Supplies Expense                              <u>(7,150)    </u>

Gross Income                                     982,850

Less: Operating Expenses

Depreciation Expense    12,200

Insurance Expense c       5,750

Miscellaneous Expense  6,650

Rent Expense                  80,000

Salaries Expense            502,400

Utilities Expense             <u>40,000</u>

                                                          <u>(647,000)</u>

Net Income                                        <u>335,850</u>

Explanation:

Income statement shows the the income / loss of a business for the period. It measure the net value after deducting all the expenses from the all the incomes of the business.  

3 0
3 years ago
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