Answer:
a) The effect the rental activity has on Adelene's AGI is $0.
b) The total rental income is less than the total expenses for the year, so the reportable rental income is $0.
Explanation:
a)
particulars amount amount
rental income $5,000
property taxes $3,800
mortgage interest $7,500
utilities $3,700
insurance $2,500
repairs $2,100
depreciation $15,000
total deduction $34,600
AGI $0
Therefore, The effect the rental activity has on Adelene's AGI is $0.
b)
particulars amount
Real property taxes $3,800
mortgage interest $7,500
utilities $3,700
insurance $2,500
repairs $2,100
depreciation $15,000
total expenses $34,600
Therefore, The total rental income is less than the total expenses for the year, so the reportable rental income is $0.
Answer:
a. Rao indorses his payroll check in blank.
Explanation:
There are many types of indorsements, and out of them one is "Trust Indorsement"
Trust Indorsement is an indorsement to a person who can use the funds for the benefit of the indorser.
Example:
Brian indorses a check to his employee Denny "Payable to Denny, as agent for Brian", This is an example of trust indorsment.
Option b and c are clearly examples of trust indorsements in which you can notice that Rao has indorsed his lawyer and accountant "as agent for Rao".
Whereas, option a is NOT a trust indorsment but rather a "Blank Indorsement"
Blank Indorsment is an indorsement that doesn't have any particular indorsee and only has a signature on it.
Answer:
True, but it applies to everyone in the organization.
Explanation:
Modern companies can only be successful if every single employee works as a team member, since competition keeps increasing and customers' expectations keep rising.
Every single role within an organization is important. Can supply chain professionals distribute a product that doesn't exist (wasn't manufactured on time)? Could they distribute a product that no one wants to buy (marketing and sales are extremely important also)? Could anyone work if the finance department couldn't do its job and there was no money in the company?
We tend to believe that what we do is extremely important and difficult to do, and other people have it easier because their are simpler than ours. But that is just nonsense. Once I heard a quarterback talking about who was the most important player in a football team, and his answer really surprised me, "Quarterbacks fill stadiums, but defenses earn championships". On a team no one is more important, the chain breaks on its weakest link.
Answer: A - $8,046
Explanation: Inventory valuation using the specific identification method is a method used in getting the actual stock cost at their specific purchase price at a specified time during the year.
Jan - 11 units @129 =1,419
Feb - 13 units @139 = 1,807
May - 6 units @149 = 894
Sept - 13 units @159= 2,067
Nov - 11 units @ 169= 1,859
Total = $8,046
Answer:
A. Deduction
Explanation:
Deduction or deductive reasoning is the process whereby a logical conclusion is reached from one or more statements. Deductive reasoning involves using generalization or a general fact to reach a specific and logical conclusion. In the case, the general fact is that all HR manager in the firm has advanced degree. The logical conclusion here is that since Chloe is a HR manager with the most experience, then surely she must have an advanced degree.
In summary, deductive reasoning moves from generalities to a specific streamlined logical conclusion.
