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3 years ago

14

During the current tax year, Paul came down with a serious illness. Paul's uncle paid many of Paul's expenses during the period

of rehabilitation. For tax purposes, how are Paul's mortgage interest and real estate property taxes handled?

1 answer:

Naily [24]3 years ago

3 0

Answer:

Neither Paul nor his uncle can deduct the expenses.

Explanation:

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Federal programs like student loan programs and Social Security are paid for using the revenue generated by taxation.

Artist 52 [7]

Bare with me here. I may be wrong but I hinkle it's true

5 0

3 years ago

Read 2 more answers

A listing broker should: a. deliberately mislead owners about market value to obtain the listing. b. inflate the list price if t

Vinil7 [7]

Answer:

c. suggest a listing price based on comparable market data.

Explanation:

A bond can be defined as a debt or fixed investment security, in which a bondholder (creditor or investor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time.

Generally, the bond issuer is expected to return the principal at maturity with an agreed upon interest to the bondholder, which is payable at fixed intervals.

The par value of a bond is its face value and it comprises of its total dollar amount as well as its maturity value. Also, the par value of a bond gives the basis on which periodic interest is paid. Thus, a bond is issued at par value when the market rate of interest is the same as the contract rate of interest. This simply means that, a bond would be issued at par (face) value when the bond's stated rated is significantly equal to the effective or market interest rate on the specific date it was issued.

Generally, a listing broker should suggest a listing price based on comparable market data.

5 0

3 years ago

Absolute Manipulation Manufacturing's (AMM) standards anticipate that there will be 4 pounds of raw material used for every uni

murzikaleks [220]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Standard:

Quantity= 4 pounds per unit

Cost= $1.3 per pound

Actual:

Purchase= 18,700

Used= 3,500 + 18,700 - 1,900= 20,300

Cost= 16,830/18,700= $0.9 per pound

Units produced= 4,700 units

T<u>o calculate the direct material price and quantity variance, we need to use the following formulas:</u>

<u></u>

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (1.3 - 0.9)*18,700

Direct material price variance= $7,480 favorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (4*4,700 - 20,300)*1.3

Direct material quantity variance= $1,950 unfavorable

6 0

3 years ago

Southern Wear stock has an expected return of 15.1 percent. The stock is expected to lose 8 percent in a recession and earn 18 p

kari74 [83]

Answer:

15.26%

Explanation:

Given:

Expected return = 15.1% = 0.151

Expected loss in recession = - 8% = - 0.08 [negative sign depicts loss]

Expected earning in a boom = 18% = 0.18

Probabilities of a recession = 2% = 0.02

Probabilities of a normal economy = 87% = 0.87

Probabilities of a boom = 11% = 0.11

Now,

Expected return = ∑ (Probability × Return)

or

0.151 = 0.02 × ( - 0.08) + 0.11 × 0.18 + 0.87 × Return on normal economy

or

0.151 = - 0.0016 + 0.0198 + 0.87 × Return on normal economy

or

0.151 - 0.0182 = 0.87 × Return on normal economy

or

Return on normal economy = 0.1526

or

= 0.1526 × 100%

= 15.26%

4 0

3 years ago

2. Why might this be the perfect advice for beginning investors?

soldi70 [24.7K]

Explanation:

Getting the right education is one of the best pieces of advice I would send to someone who is only learning to invest. Investing is all about purchasing firms that you know and appreciate, that have a strong competitive edge, and that have a solid management team, all at a decent price.

8 0

3 years ago