Answer:
$72,000
Explanation:
To calculate investment interest expense dedcution, we need to know the total investment income & total investment interest expenses
Then there're 2 scenarios as followings:
- If the investment interest expenses are less than the net investment income, the entire investment interest expense is deductible.
- If the investment interest expenses are more than the net investment income, we can deduct the expenses up to the net investment income amount. The rest of the expenses are carried forward to next year.
In this example, Ramon's investment income is $72,000 ($34,500 of interest and a $37,500 net capital gain on the sale of securities); is lower than his interest expenses of $83,100.
So Ramon is entiled to deduct $72,000 all the entire investment interest expense in current year
Answer:
The correct answer is 842.1 Pesos and 941.18 Pesos.
Explanation:
According to the scenario, the given data are as follows:
Price of Jeans = $80
So, if exchange rate is $0.095 = 1 pesos
Then pesos required to buy that jeans can be calculated as follows:
Pesos required = $80 ÷ $0.095
= 842.1 Pesos
And if 1 Pesos = $0.085, then
Pesos required = $80 ÷ $0.085
= 941.18 Pesos
Answer:
Yes this sequence of transaction is considered as a day trade.
Explanation:
As per the definition of the day trading, <em>Day trading is defined as the purchase and sale of a security within a single trading day. It can occur in any marketplace but is most common in the foreign exchange (forex) and stock markets.</em>
As per this definition, the trading has to be done such that the purchase and sale is made on the same day. As indicated in the question ,this is the case so the given sequence of transactions is a day trade.
Answer: Opportunity
Explanation:
1. Opportunity - Given the fact that employees are granted access to very important documents, this might provide them the opportunity to commit theft. Employees who occupy top positions have access to classified information of the company which when manipulated can result to disastrous consequences. It now be holds on the employers of labour or the internal control system, to limit access to such information so as to make it hard for such fraud to be committed.
The procedures used by auditors to provide evidence are in two phases namely; the planning phase and execution phase.
1. The procedure for the planning phase is - Designing Appropriate Procedures : The evidence in this case could be a red flag noticed in the account records. The person who tried to commit the fraud could change figures in places that may not be noticeable.
2. The procedure for the execution phase involves - Implementing Appropriate Procedures : The evidence could be seen as an error. This error most likely results in wasteful spending.
Check your stuff to see what you already have and what you need.To go around buying everything you want just because its pretty.
