Interest rates on a loan provide what key information?

DJ and Gwen paid $3,200 in qualifying expenses for their son, Nikko, who is a freshman attending the University of Colorado. DJ

navik [9.2K]

Answer:

$1,150

Explanation:

$2,000+[(3,200-2,000) * .25]= $2,300 is their pre-limitation credit

But limited due to AGI as: $2,300 *($180,000 — 170,000/20,000) = $1,150.

4 0

3 years ago

Read 2 more answers

South Coast Appliance Store is a small company that has hired you to perform some management advisory services. The following in

love history [14]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Sales (6,000nits*$1,000) $6,000,000

Cost of goods sold 870,000 (145 a unit)

Store manager's salary per year 192,000

Operating costs per year 305,000

Advertising and promotion per year 40,000

Commissions (4.1% of sales) 246,000

We will separate in variable and fixed costs:

Fixed costs:

Store manager's salary per year 192,000

Operating costs per year 305,000

Advertising and promotion per year 40,000

Variable costs:

COGS= 145*8,900= 1,290,500

Commission= 0.041*(8,900*1,000)= 364,900

Total costs= fixed costs + variable costs

Total costs= $2.192,400

4 0

4 years ago

Which of the following are assumptions of cost volume profit analysis?

Klio2033 [76]

Answer:

The correct answer are B and D

Explanation:

CVP stands for the Cost Volume Profit analysis, which is defined as the situation where the companies evaluate or determine what will happen financially when the selling price varies or change, the costs change or the production volume changes.

The assumptions of the CVP are:

1. Costs are linear and are designated either variable or fixed.

2. The selling price per unit will be constant and will not decrease/ increase grounded on volume.

3. In the case of the firm or business which sells the multiple products, the sales mix will be constant.

6 0

3 years ago

The principle prescribing that financial statements reflect the assumption that the business will continue operating instead of

Simora [160]

Answer:

A. Going-concern principle

Explanation:

The correct Choice is A.

This concept assumes that the business unit will continue operating under the same economic conditions and in the same general environment. But it does not assume that the business unit will be profitable as long as it exists.

Accounting is based on the assumption that business unit will be operating for long. When a business is started , it is assumed that the business will not be dissolved in the near future. The accounting system provides a continuous record of the performance of the business throughout its existence.

8 0

3 years ago

An investor in a country with an original issue discount tax provision (e.g. U.S.) purchases a 20-year zero-coupon bond at a dee

mr Goodwill [35]

Answer:

The investor will most likely to report taxable income from the bond annually until maturity

Explanation:

Original issue discount tax requires that the investor make provision for part of original issue discount in his taxable income every tax year until maturity. The interest is not payable until it accrued and it is calculated as difference between the bond's par value and its original issue price.

7 0

3 years ago