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Elodia [21]
2 years ago
7

Jerry and Ann paid the following amounts during the current year: Interest on automobile loan $1,500 Interest on bank loan (proc

eeds were used to purchase municipal bonds) $5,000 Qualified home mortgage interest $3,150 What is the maximum amount they can use as interest expense in calculating itemized deductions for the current year
Business
1 answer:
Naily [24]2 years ago
3 0

Answer:

the maximum amount is $3,150

Explanation:

The computation of the maximum amount that could be used as an interest expenses while calculating the item deductions for the present year is shown below:

Here we considered only the home mortgage interest i.e. qualified i.e. $3,500

The other things would not be considered like interest on automobile loan, interest on bank loan etc as it is not allowed

Therefore the maximum amount is $3,150

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Selected financial data for Spark Enterprises follows for a production level of 120,000 units: (4 points) Total fixed costs $300
Marta_Voda [28]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Total fixed costs= 300,000

Total costs= $450,000

Units= 120,000

A) Unitary variable cost= 150,000/120,000= $1.25

B) Units= 75,000

<u>The fixed costs remain constant no matter how many units are made (between relevant ranges).</u>

Total fixed costs= $300,000

C) UNits= 160,000

Total variable costs= 1.25*160,000= $200,000

D) Units= 180,000

Total fixed costs= 300,000

Total variable costs= 1.25*180,0000= 225,000

Total costs= $525,000

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Based on the HEADLINE article titled "Inflation and the Weimar Republic," which of the following is the best illustration of the
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Answer: Businessmen traveling around the country found themselves borrowing funds from their customers each stage of the way. The cash they'd allocated for the entire trip barely sufficed to pay the way to the next stop."

Explanation:

Inflation is when there is a general increase in the prices of goods and services on the economy.

The best illustration of the wealth effect of inflation based on the article titled "Inflation and the Weimar Republic," is that businessmen traveling around the country found themselves borrowing funds from their customers each stage of the way. The cash they'd allocated for the entire trip barely sufficed to pay the way to the next stop."

This is because when there is inflation, theee will be rise in price and hence, the money the businessmen wanted to use won't be enough to get meet their needs hence they'll need more funds.

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Answer and Explanation:

d. is the Fed's primary monetary policymaking body.

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The correct option is D.
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3 years ago
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