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Tpy6a [65]
4 years ago
15

On November 1, year 1, Jamie (who is single) purchased and moved into her principal residence. In the early part of year 2, Jami

e was laid off from her job. On February 1, year 2, Jamie sold the home at a $45,500 gain. She sold the home because she found a new job in a different state. How much of the gain, if any, may Jamie exclude from her gross income in year 2?Multiple Choice$4,550.$31,250.$45,500.$0.
Business
1 answer:
Deffense [45]4 years ago
7 0

Answer:

correct option is $31,250

Explanation:

given data

home sold gain = $45,500

to find out

gain may Jamie exclude from gross income in year 2

solution

as given November 1 purchase home February 1 sold

so we know here that Maximum exclusion will be

Maximum exclusion = $250,000 × \frac{3}{24}

Maximum exclusion = $31,250

so here $31,250 may Jamie exclude from her gross income in year 2

correct option is $31,250

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NewDigger Inc. makes backhoes for digging ditches and trenches. It has developed an environmental-friendly liquid that, when pou
Vinvika [58]

Answer: breakthrough                    

Explanation: In simple words, breakthrough project refers to a project which results or has a potential to result as a sudden and huge development for the organisation.

In the given case, the new chemical product by the organisation is a new invention and can ease the job of the field workers.

Hence it can prove as a breakthrough for new digger.

5 0
4 years ago
In 2019, RayeAnn acquires a car for $14,000. She uses the car in her advertising business and for personal purposes. Her records
kirill [66]

Answer:

Deductible depreciation = $2,660

Explanation:

Given:

Amount of car = $14,000

Personal use = 30%

Business use = 70%

Total depreciation = $3,800

Deductible depreciation = ?

Computation of Deductible depreciation:

Deductible depreciation = Total depreciation × Business use percentage

Deductible depreciation = $3,800 × 70%

Deductible depreciation = $2,660

5 0
3 years ago
The amount of the outstanding checks is included on the bank reconciliation as a(n) deduction from the balance per company's rec
Sphinxa [80]

Answer:

D) deduction from the balance per bank statement

Explanation:

A bank reconciliation statement is a document that matches the cash balance on a company’s balance sheet to the corresponding amount on its bank statement. Reconciling the two accounts helps determine if accounting changes are needed. Bank reconciliations are completed at regular intervals to ensure that the company’s cash records are correct. They also help detect fraud and any cash manipulations.

7 0
3 years ago
A decrease in demand, with supply constant, results in a(n)
riadik2000 [5.3K]

Answer:

The correct answer is decrease in equilibrium price and a decrease in equilibrium quantity.

Explanation:

The supply being constant, a decrease in demand will cause the demand curve to shift to the left while the supply curve will remain the same.

The new demand curve will intersect the supply curve at a lower point. This rightward shift in the demand curve will cause both the equilibrium quantity as well as the equilibrium price to fall.  

4 0
4 years ago
It has been reported that 40% of U.S. Workers employed as purchasing managers are females. In a simple random sample of U.S. Pur
alexira [117]

Answer:

  • a. Population proportion = 0.40
  • b. Sample proportion = 0.35

Explanation:

Question wants to know the population proportion and the sample proportion.

a. Population proportion:

The population in this case is the U.S. workers employed as purchasing managers. The proportion that we are interested in is the 40% that are female.

Population proportion is therefore 0.40.

b. The sample proportion uses the sample details not the population details:

= Number of females employed as Purchasing managers in sample / Number of Purchasing managers in sample

= 70 / 200

= 0.35

7 0
3 years ago
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