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Vlad [161]
3 years ago
5

On July 1 of the current year, Marcia purchases a new home and borrows $320,000. Marcia is required to pay two points on the loa

n. The loan is secured by the residence and the charging of points is an established business practice in the area. The term of the loan is 20 years, beginning on July 1 of the current year. How much, if any, of the points may Marcia deduct in the current year?
Business
1 answer:
Masja [62]3 years ago
4 0

Answer:

$6,400.

Explanation:

Because these points are paid in connection with the purchase of a principal residence, Marcia may deduct $6,400 ($320,000 × 2%) as interest expense during the current year.

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In king's view, what three qualities must a movement have in order to achieve the goal of integration?
Novay_Z [31]

Answer:

Martin Luther King Jr. believed that in order for an integration movement to be successful, it had to be:

  1. organized in a militant manner: members must be vigorously active supporting the cause
  2. the movement must have a mass character: must include everyone, not just some selected individuals
  3. the movement must reject (repudiate) violence

If a movement doesn't embrace peace, then it will generate conflict and violence. If the members are passive, there ideals will not be noticed. If the movement does not include everyone, then it will create more segregation.

3 0
3 years ago
Which of the following are included in qualified business income (QBI)? (All income is effectively connected with a trade or bus
Elina [12.6K]

Answer:

The correct answers are letters "C" and "D": Jane's Schedule C net profit;  Qualified Publicly Traded Partnership (PTP) income.

Explanation:

The Qualified Business Income Deduction or QBI allows up to 20% of deductions for people who file small businesses taxes in personal statements.  The rule mainly applies to all those activities developed in a sole proprietorship. Capital gains, losses, dividends, and interest are not eligible for this type of deductions. A schedule C (form 1040) or a qualified Publicly Traded Partnership (PTP) income can be subject to this deduction.

3 0
3 years ago
. Funsters, Inc., the largest toy company in the country, sells its most popular doll for $15. It has just learned that its lead
OLEGan [10]

Answer:

B. increase the supply of its doll now before the other doll hits the market

Explanation:

Funsters Inc. should increase supply of it´s popular doll now before the doll of Toysorama company hit the market at low price. This will give first mover advantage to Funsters Inc., Which will help the company to grab market share and gain revenue from the market before other company launches its doll. Competition in the market can be handled by taking first step.

3 0
3 years ago
What happens when a bank is required to hold more money in reserve?
valina [46]

The thing that happens when a bank is required to hold more money in reserve is It has less money for loans.

<h3>What happens when reserve requirements are increased?</h3>

Banks are known to often hold a lot of reserves if reserve requirements are increased.

This is because it is one that they can be able to use if they want to loan out less of each dollar that is said to be deposited. By raising the the reserve ratio, and also lowers the money multiplier, and lowering the money supply.

Therefore, The thing that happens when a bank is required to hold more money in reserve is It has less money for loans.

Learn more about reserve  from

brainly.com/question/25817380

#SPJ1

8 0
2 years ago
On October 1, 2021, Chief Corporation declared and issued a 10% stock dividend. Before this date, Chief had 80,000 shares of $5
Komok [63]

Answer:

Decrease by $80,000

Explanation:

The journal entries are shown below;

Retained earning Dr $80,000              (8,000 shares × $10)

      To Common stock $40,000                         (8,000 shares × $5)

      To Paid in capital in excess of par $40,000                    (8,000 shares × $5)

(Being the retained earning is recorded)

So by passing this journal entry we get to know that the retained earning will decreases by $80,000

8 0
3 years ago
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