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Dafna11 [192]
3 years ago
8

Seojun acquired an activity several years ago, and in the current year, it generates a loss of $50,000. Seojun has AGI of $140,0

00 before considering the loss from the activity. If the activity is a bakery and Seojun is not a material participant, what is his AGI
Business
1 answer:
ahrayia [7]3 years ago
7 0

Answer:

Seojun's Adjusted Gross income is $140,000.

Explanation: Adjusted Gross income(AGI) is a term used in Financial accounting to describe the total amount of gross income remaining after certain deductions have been made to the Gross income of a business entity over a given period of time.

Since Seojun is not a Material participant,the $50,000 loss can not be considered in calculating Seojun's Adjusted Gross income.

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Legislates and enforces regulations that
Nikolay [14]

Answer:

Environmental Protection Agency

Explanation:

Out of all of the choices, the Environmental Protection Agency is the only administration that focuses on the protection of the environment, which would include the reduction of pollution, through protecting the air, water, and land.

OSHA and the FDA work to protect consumers and people in the workforce.

The SEC works with small businesses and investors.

8 0
3 years ago
On January 1, 2021, Blair Company sold $800,000 of 10% ten-year bonds. Interest is payable semiannually on June 30 and December
Anika [276]

Answer:

$42,480

Explanation:

Given that,

Value of bonds = $800,000

Interest rate = 10%

Selling price of bond (Book value) = $708,000

Priced to yield = 12%

The semi-annual yield is calculated as follows:

= 12% / 2 (because the interest is payable semiannually on June 30 and December 31)

= 6%

Therefore, the semi-annual bond interest expense:

= Selling price of bond × semi-annual yield

= $708,000 × 6%

= $42,480

Hence, the Blair should report bond interest expense for the six months ended June 30, 2021 in the amount of $42,480.

But the actual cash paid for the interest expense will be:

= (Value of bonds × Interest rate on bonds)

= [$800,000 × (10%/2)]

= $800,000 × 5%

= $40,000

So, the amortization for bond discount is the difference between actual cash paid and bond interest expense:

= $42,480 - $40,000

= $2,480

7 0
3 years ago
You are the hr consultant to a small business with about 40 employees. now the firm offers only 5 days of vacation, 5 paid holid
ollegr [7]

Ask google

So you can get a answer that is related to your question

6 0
2 years ago
Roger is almost done with his feasibility study and is concerned about the financing. Up until this point, he has been operating
Andrews [41]

Answer:

True

Explanation:

Hope this helps.

8 0
2 years ago
What is cosideration
gizmo_the_mogwai [7]

he exchange of money and the receipt of the item is mutual consideration for the transaction. In every single agreement, there must be consideration in order for the agreement to be legally binding; it is a critical part of contract formation. ... In other words, each person in a contract must promise to do something.

4 0
3 years ago
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