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
Ksivusya [100]
4 years ago
13

Renee operates a proprietorship selling collectibles over the web, and last year she purchased a building for $24 million for he

r business. This year, Renee’s proprietorship reported revenue of $85 million and incurred total expenses of $78.1 million. Her expenses included cost of goods sold of $48.5 million, sales commissions paid of $16.9 million, $10.5 million of interest paid on the building mortgage, and $12.7 million of depreciation.
b. How much business interest expense can Renee deduct this year?


c. Suppose that Renee’s revenue includes $5 million of business interest income. What is the maximum amount of business interest expense that Renee can deduct this year?
Business
1 answer:
emmasim [6.3K]4 years ago
6 0

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

Download xlsx
You might be interested in
Ayayai Corp. uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $200,
Ket [755]

Answer:

Option (B) is correct.

Explanation:

Amount of which adjusting entry required:

= Amount of uncollectible accounts - Balance in Allowance for uncollectible accounts

= (Balance in accounts receivable × Estimated percentage of accounts receivable to be uncollectible) - Balance in Allowance for uncollectible accounts

= ($200,000 × 4%) - $2,000

= $8,000 - $2,000

= $6,000

Therefore, the adjusting entry is as follows:

Bad debt expense A/c      Dr.  $6,000

To Allowance for uncollectible accounts    $6,000

(To record the bad debt expense)

5 0
4 years ago
Bill wants to give Maria a $590,000 gift in two years. If money is worth 12% compounded semiannually, what is Maria's gift worth
PtichkaEL [24]

Answer:

the present value is $467,335.2613

Explanation:

The computation of the value worth today is shown below:

= Amount in two years ÷ (1 + rate of interest)^number of years

= $590,000 ÷ (1 + 12% ÷ 2)^2×2

= $590,000 ÷ 1.06^4

= $590,000 ÷ 1.26247696

= $467,335.2613

Hence, the present value is $467,335.2613

We simply applied the above formula so that the correct value could come

And, the same is to be considered  

8 0
3 years ago
V. Wheat is the main input in the production of flour. If the price of wheat decreases, then we would expect:
Murrr4er [49]

Answer:

3. Supply of flour to increase.

Explanation:

The situation above is showing a<em> direct proportional relationship</em> between the "wheat," as a main ingredient of flour, and the flour itself.

If the price of wheat <em>decreases</em>, <u>suppliers will be interested in buying more of it in order to produce more quantities of flour at a </u><em><u>lower cost </u></em>because it will more likely lead to a<em><u> higher profit</u></em>. This will, therefore, increase the supply of flour in the market.

6 0
3 years ago
The purpose of a Chamber of Commerce is to foster a healthy business climate for all of the businesses in the community. Develop
forsale [732]

Answer:  

Guidelines to consider include:

1. Planning

2. Deciding which social media platform is best for your business.

3. Knowing your audience

4. Expanding  audience

5. Building relationships

6. Focusing on quality over quantity

7. Using the right tools

Explanation:

Social media is one of the ways to connect with a large number of individuals to boost business and sales.

Firstly, Planning is very vital in whatever we are doing. Without a plan, the organization has no clear goal of what they are trying to archive. The organisation should create a social media plan upfront.

Secondly, The local business should decide which social media platform is best for them.

Furthermore, the business should know and understand who their audience is by compiling data on current customers and social media analytics.

Afterwards, The organization should expand their audience since they have gotten a clear picture of who their audience is.

It is also very important for the business to focus on quality instead of quantity when creating content so as to offer value.

Finally, the organization should take advantage of tools to simplify work and boost productivity.

4 0
3 years ago
Helping employees find the harmony between the demands of their personal and professional lives is called ________.
motikmotik

Helping employees find the harmony between the demands of their personal and professional lives is called<u> Work-Life Balance</u>.

Employees face a variety of obstacles in the workplace today. While certain professions permit a more flexible separation of work and personal life, many others require substantial sacrifices in the area of leisure and family.

The United States is ranked 30th among nations with the best work-life balance by Statista. This is primarily due to the fact that many Americans often put in extra time at work.

Employers are becoming more conscious of the rising demands of their workers about a healthy work-life balance as a result.

Businesses are now thinking about how to create a work-life balance and putting in place specific strategies to encourage this. Making workers more productive is a goal, but so is making them happier and more balanced.

To learn more about Work-life Balance here

brainly.com/question/6842800

#SPJ4

8 0
1 year ago
Other questions:
  • If a company has 5 employees with annual salaries of $90000 $60000 $70000 $90000 and $20000 respectively what is the mean annual
    5·2 answers
  • A form of comparative analysis where customers show their opinions of another firm’s strengths vis-?-vis their competitors is a
    9·1 answer
  • After reviewing the service records at a car dealership, the CEO (chief executive officer) discovered that customers who schedul
    11·1 answer
  • Generating ideas by comparing specific project practices or product characteristics to those of other projects or products insid
    6·1 answer
  • What step can an organization take to improve its culture?
    5·1 answer
  • Watches, an online watch store, recently adopted a new enterprise resource planning (ERP) system to help keep track of the compa
    13·1 answer
  • Pepper Corporation owns 75 percent of Salt Company's voting shares. During 20X8, Pepper produced 50,000 chairs at a cost of $79
    10·1 answer
  • Lang Co. issued bonds with detachable common stock warrants. Only the warrants had a known market value. The sum of the fair val
    14·1 answer
  • __________aggregate customers' opinions related to products or services that they have purchased and then suggest them to others
    15·1 answer
  • In the Capacity Allocation problem with two classes, companies have to determine Group of answer choices How many discount custo
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!