List which coins are profitable and which are not.

Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowe

UNO [17]

Answer:

Since 2019, the deduction limit for interest expense deductions on qualified higher education loans is $2,500. In order to qualify for this deduction, the taxpayer's adjusted AGI must be less than $85,000 for single filers (Lionel's income is below the threshold).

So Lionel will be able to deduct $1,650 as interest expense (above the line deduction).

Lionel can also deduct $2,500 form the American Opportunity Tax Credit for higher education expenses.

7 0

3 years ago

Which of the following statements is false about the order in which management determines the sequencing of support department a

GaryK [48]

Answer: A. Departments with more employees are allocated earlier.

Explanation:

In the sequential method, it should be noted that a company allocates the service costs one department at a time. Once the service department cost is allocated by the accountants, the department won't get any other costs from the other service departments.

The statement that is false about the order in which management determines the sequencing of support department allocations under the sequential method of allocating support department costs to production departments is that the departments with more employees are allocated earlier.

Under the sequential method, the department costs that are allocated earlier include having an accurate cost drivers, having a higher cost, or having a large number of support.

4 0

2 years ago

In the securitization process, mortgages are pooled together and cash flows are packaged into securities to be sold in the secon

Viefleur [7K]

Answer:

conduits

Explanation:

A mortgage-backed security is one in which is similar to bonds but that usually consists of home loans ought from banks that issued them. It is a type asset-backed security which can be sold through brokers.

investment in mortgage-backed assets means the investor is lending out his money to people that intend to get a home.

A mortgage-backed security can be bought directly from banks or through brokers. These brokers are also called conduits.

Cheers

7 0

3 years ago

Manufacturing cost data for Orlando Company, which uses a job order cost system, are presented below. Indicate the missing amoun

mafiozo [28]

Answer:

a= 54796

h= 80,824

d=117916

i=67915.68

e=$ 352196

b= 58,800

f= 373496

j= 234500

c= 15100

k= 1900

g=3721596

Explanation:

Orlando Company

Manufacturing Cost Data

Case A Case B Case C

Direct materials used (a) $91,200 $69,000

a=149,800 - 42,804- 52,200 54796

Direct labor 52,200 143,800 (h)

$69,000 +x+0.82h= 216100

1.82h= 216100-69000

h= 147100/1.82= 80,824 80,824

Manufacturing overhead applied 42,804 (d) (i)

d=82% of 143,800=117916 117916

i=82% of 80824 = 67915.68 67915.68

Total manufacturing costs 149,800 (e) 216,100

e=$91,200+ 143,800+ 117916 352196

Work in process 1/1/14 (b) 21,300 18,400

b=208,600- 149,800 58,800

Total cost of work in process 208,600 (f) (j)

f=352196+ 21,300 373496

j=216,100 + 18,400 234500

Work in process 12/31/14 (c) 11,900 (k)

c=208,600 - 193,500 15100

k=234500 -232,600 1900

Cost of goods manufactured 193,500 (g) 232,600

g=373496- 11,900 3721596

The formulas used are given below.

Total Manufacturing Cost = Direct Materials + Direct Labor + Factory Overheads

Total cost of work in process= Total manufacturing costs+ Opening Work in process

Cost of goods manufactured= Total cost of work in process - Closing Work in process

In each of these if two amounts are known we can find the third one.We can also do rearrange these to find the required amounts.The calculation of each of the missing amount has been done next to it.

5 0

3 years ago

_____________ is something of value that can be claimed by a lender if a loan is not repaid.

maria [59]

Answer:

Collateral

Explanation:

7 0

3 years ago