<span>b. $52,514.51. The $2,173.93 in student loan interest deductions, $2,824 to his favorite charities, and $3,117.56 in home mortgage interest are all tax deductible. However, only $7,300 is exempted from his taxes from the $11,400 they claimed for. Subtracting all this from $67,930, we get $52,514.51.</span>
The answer is intransitive
Answer:
That is $2,000 loss
Explanation:
After the hurricane Oscar received $140,000 for his loss, the adjusted basis for his property was $130,000 so he had a gain of 140,000- 130,000=$10,000.
According to Sec. 1033(a)(2) since the new property that was built (the replacement) was similar we will recognise the amount received from the insurance company ($140,000) to the extent that it pays for the replacement property.
That is
Gain or loss = amount paid by insurance company- cost of replacement property
Gain or loss= 140,000- 142,000
Gain or loss= -$2,000
That is $2,000 loss
Answer:
Total Assets=$13,500
Explanation:
Assets are items which are used by any company or firm for positive economic value production.
In our problem, we have to find total assets.
Given Data:
Accounts Receivable=$800
Equipment=$10,000
Accounts Payable=$4,200
Prepaid Rent=$2,000
Supplies=$400
Bank Loan=$1,600
Tools= $300
Total Assets=Accounts Receivable+Equipment+Prepaid Rent+Supplies+ Tools
Total Assets=$800+$10,000+$2,000+$400+$300
Total Assets=$13,500
Answer: $20,000
Explanation:
To calculate Citicorp's profit or loss we can use the following formula,
The Citigroup's profit is computed as shown below:
= Exercise Price - Spot Price + Premium received
= $ 0.59 - $ 0.60+ $ 0.02
= $ 0.01 per euro is Citicorp's profit.
Total profit will therefore be:
= $ 0.01 x 2,000,000
= $ 20,000
$20,000 is Citicorp's profit on the call option.
If you need any clarification do react or comment.
