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andrew11 [14]
3 years ago
8

In a Real Estate Limited Partnership, the general partner refinances an existing $5,000,000 mortgage on a $10,000,000 property t

o the original amount of $8,000,000. The interest rate on both mortgages is the same. Given that information, which of the following statements are TRUE?
I Interest deductions to the limited partners will be increased
II Interest deductions to the limited partners will remain the same
III The partnership tax basis will be increased
IV The partnership tax basis will remain the same

A) I and III
B) I and IV
C) II and III
D) II and IV
Business
1 answer:
Nana76 [90]3 years ago
7 0

Answer: Do your own homework

Explanation:

It’s easy

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Hogan Industries had the following inventory transactions occur during 2017: Units Cost/unit Feb. 1, 2017 Purchase 110 $46 Mar.
Rama09 [41]

Answer:

The answer is: Gross profit = $2,788

Explanation:

  • Feb. 1         Purchase    110 units     $46 per unit
  • March 14    Purchase    190 units    $48 per unit
  • May 1         Purchase     135 units   $ 50 per unit

312 units were sold at $64 per unit, tax rate is 30%

Using FIFO, what is the company's gross profit? We first calculate COGS

Cost of goods sold - 312 units:

  • 110 units at $46 per unit = $5,060
  • 190 units at $48 per unit = $9,120
  • 60 units at $50 per unit = $3,000

Total COGS = $17,180

<u>Income statement for Hogan Industries 2017</u>

Total revenue         $19,968

<u>COGS                     ($17,180)     </u>

Gross profit             $2,788

<u>Taxes 30%             ($836.40)   </u>  

Net profit                $1,951.60

6 0
2 years ago
Diego, age 28, married Dolores, age 27, in 2017. Their salaries for the year amounted to $88,750 and they had interest income of
viva [34]

Answer and Explanation:

a. What is the amount of their adjusted gross income?

Adjusted Gross Income ( AGI ) = $88,750 + $2,660 - $5,170

= $86,240

Adjusted Gross Income ( AGI ) = $86,240

b. In order to minimize taxable income, Diego and Dolores will in the amount of

From the above box, Here Diego, Dolores both are married so,  Standard Deduction in 2017 is $12,700

In order to minimize taxable income, Diego and Dolores will in the amount of $12,700

c. What is the amount of their taxable income?

Taxable income = AGI - Standard deduction - exemptions

= $86,240 - 12,700 - [ 2 * $4,050 ]

= 73,540 - 8,100

= $65,440

Taxable income = $65,440

d. What is their tax liability for 2017?

from Tax bracket for married filling jointly in 2017 table.

Tax liability = [ 18,650 * 10% ] + [ 15% [ 65,440 - 18,650 ] ]

= 1,865 + [ 15% * 46,790 ]

= 1,865 + 7,018.5

= $8,883.5

Tax liability = $8,883.5

4 0
3 years ago
Which of the following is an common factor of failure for small businesses
Alex777 [14]

A few of the following can be considered major factors in failure of small businesses:

-Lack of financial planning: when a business is born it needs to critically plan out the first few years of running. Small business often fail to plan out for the future and have less working capital at hand.

-Lack of expertise: small business cannot afford specialist managers and this may be a reason for failure

-no investment in marketing and research can also be a reason.


6 0
3 years ago
What is an opportunity cost
xxMikexx [17]

Answer:

B

Explanation:

Opportunity cost is the valje of the next best alternative forgone when a choice is made.

7 0
2 years ago
If the tax multiplier is minus1.5 and a​ $200 billion tax increase is​ implemented, what is the change in​ gdp, holding all else
3241004551 [841]
Tax multiplier = -1.5
Tax increase = $200 billion

Therefore, since the multiplier is a negative value, the GDP must have gone down.

GDP = Tax increase/Tax multiplier  = 200/-1.5 = $133.33 billion decrease.
Then, the correct answer is c.
6 0
3 years ago
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