Answer:
$72,000
Explanation:
To calculate investment interest expense dedcution, we need to know the total investment income & total investment interest expenses
Then there're 2 scenarios as followings:
- If the investment interest expenses are less than the net investment income, the entire investment interest expense is deductible.
- If the investment interest expenses are more than the net investment income, we can deduct the expenses up to the net investment income amount. The rest of the expenses are carried forward to next year.
In this example, Ramon's investment income is $72,000 ($34,500 of interest and a $37,500 net capital gain on the sale of securities); is lower than his interest expenses of $83,100.
So Ramon is entiled to deduct $72,000 all the entire investment interest expense in current year
Answer:
The correct word for the blank space is: primary.
Explanation:
Primary data collection takes place when data is collected by researchers from direct sources using for that purpose surveys or interviews. Typically, primary data collection gathers the questions formulated on <em>secondary data</em> research since that is the basic step carried out for the data collection process.
Answer:
B. Cost of goods sold will be too low by $5,000.
Explanation:
Overstatement in closing inventory has two effects. First in income statement, that the cost of goods sold is decreased by the same amount that is overstated. Second is overstatement of Inventory value in the asset section of balance sheet. According to the given scenario The effect of this event should be as cost of goods sold will be too low by $5,000.
Answer: TRUE
Explanation: Gross Domestic Product ( GDP) can be described as the market value of all goods and services produced in a country within a particular time period which is usually a year.
The equation for finding GDP is given as -
GDP = Consumption + Investment + Government Spending + ( Exports - Imports)
Nominal GDP can be described as the market value of all goods and services produced in a country within a particular time period using current market prices.
Real GDP can be described as the market value of all goods and services produced in a country within a particular time period using base year prices. Using base year prices to calculate real GDP adjusts for inflation.
Answer: dishonesty and dependence.
Explanation:
