1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Firlakuza [10]
3 years ago
15

Tobias has a brokerage account and buys on the margin, which resulted in an interest expense of $52,000 during the year. Income

generated through the brokerage account was as follows: Municipal interest $104,000 Taxable dividends and interest 520,000 If required, round any division to two decimal places and use in subsequent computations. Round your final answer to the nearest dollar. How much investment interest can Tobias deduct
Business
1 answer:
exis [7]3 years ago
7 0

Answer: $43,160

Explanation:

The amount of investment interest that can be deducted is:

= Interest expense * Proportion of total income that is taxable

Municipal interest is not taxable so the proportion of total income that is taxable is:

= Taxable dividends and interest / Total income

= 520,000 / (520,000 + 104,000)

= 0.83

Amount of investment interest that is deductible:

= 52,000 * 0.83

= $43,160

You might be interested in
The term____ refers to a market exchange that affects a third party who is outside or external to the exchange
amm1812
The term spillover refers to a market exchange that affects a third party who is outside or external to the exchange
4 0
3 years ago
Which of the following would NOT be classified as a current asset on a classified balance sheet? 答案选项组 Intangible assets Short-t
Zinaida [17]

Answer:

Intangible assets

Explanation:

A classified balance sheet is a financial statement that classifies the components in the balance sheet into different groups. For example, assets are classified into current or non current asset

Current assets are all the assets that are either used by a company or sold in the course of the year of the company.

Current assets include

  • cash, cash equivalents
  • accounts receivable
  • stock inventory
  • marketable securities
  • pre-paid liabilities

Intangible assets are classified as  noncurrent (long-term) assets

5 0
3 years ago
In the context of the different techniques used by an inference engine to manipulate a series of rules, _____ refers to a series
Volgvan

In the context of the different techniques used by an inference engine to manipulate a series of rules, <u>forward chaining</u> refers to a series of "if-then-else" condition pairs.

<h3>What is an inference engine? </h3>

An inference engine is a part of the system that applies logical rules to the knowledge base to deduce new information. The first inference engines were components of expert systems.

Therefore, the correct answer is forward chaining.

learn more about forward chaining: brainly.com/question/15303791

#SPJ12

4 0
2 years ago
Criminal investigation help please
Yakvenalex [24]
It cant be B because the exit wound is usually big , so im going with A
5 0
3 years ago
Read 2 more answers
Accumulated Depreciation and Depreciation Expense are classified, respectively, as _____. (A) asset, contra liability (B) expens
andrew-mc [135]

Answer:

(D) contra asset, expense

Explanation:

Accumulated depreciation is a contra asset. When preparing ledger accounts, it will be credited hence will have a credit balance.It is also recorded in the balance sheet. On the other hand, depreciation expense is considered an operating expense. It is included as an item in the income statement when calculating a business's net income.

7 0
3 years ago
Other questions:
  • "Our business needs a steady supply of raw milk," said Beatrice Gomez, CEO of Bea's Ice Cream, "But Holly Dairy Farms is unable
    9·1 answer
  • Basically, nations trade: Question 10 options: in order to stockpile goods in case of national disaster or emergency. in order t
    5·1 answer
  • For a monopolistically competitive​ firm, marginal revenue A.is greater than the price.B.equals the price.C.is less than the pri
    13·1 answer
  • Which of the following pieces of information is needed to compute flow time at a dentist's office?
    11·1 answer
  • Narchie sells a single product for $50. Variable costs are 60% of the selling price, and the company has fixed costs that amount
    14·1 answer
  • a. The consumption schedule directly relates consumption to saving. b. consumption to the level of disposable income. c. disposa
    5·1 answer
  • Suppose a small manufacturing business wishes to have a system to manage all its vital business operations, they should go for a
    14·1 answer
  • An automatic stabilizer:________
    14·1 answer
  • ​A television network decides to run a series of news stories highlighting the need for stronger regulations over gun sales and
    12·1 answer
  • What is my level of education if I just finished 10th grade?
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!