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Scrat [10]
3 years ago
11

In the current year, Marnie rented her vacation home for 75 days, used it for personal reasons for 22 days, and left it vacant f

or the remainder of the year. Her income and expenses are as follows: Rental income $ 18,000 Property taxes 2,500 Mortgage interest 3,500 Utilities 1,100 Repairs and maintenance 1,000 Depreciation 5,200 What is Marnie's net income or loss from the activity
Business
1 answer:
Dimas [21]3 years ago
3 0

Answer: $11123

Explanation:

Based on the information given, Marnie's net income or loss from the activity will be calculated thus:

Rental income = $18000

Less: Property tax = $2500 × 75/365 = $514

Less: Mortgage interest = $3500 × 75/365 = $719

Less: Utilities = $1100 × 75/97 = $851

Less: Repairs and Maintenance = $1000 × 75/97 = $773

Less: Depreciation = $5200 × 75/97 = $4021

Net income = $11,123

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Children in poor neighborhoods often have bleak outlooks on life and see little gain from studying. In a recent experiment, chil
Harlamova29_29 [7]

Answer:

For maths; the student <u>would not </u>increase time studying

For English; the student <u>would</u> increase time studying

<u>Explanation:</u>

We can make this assertion because we are told that the children are from poor neighborhoods, so they have desire to ease their financial lack.

Further, because they do not see the importance of studying, they likely would avoid the extra effort of $98 for maths when they can exert $84 worth of effort for English which is lower.

5 0
3 years ago
Which is the most common ethical dilemma that financial planners face? A. method of meeting their clients B. method of charging
konstantin123 [22]

B. The method of charging their clients

Is is responsible and ethical to make money off your clients even if their investments that you are responsible for are not doing well and are losing money?

7 0
3 years ago
As a result of increased competition​ (higher number of firms n​) in a monopolistically competitive​ industry, A. low minus cost
erastova [34]

Answer: D, overall productivity in the industry decreases.

Explanation: a producer can gain less market share from a given price cut.

Increased in competition means there are more firms and this will not effect consumers decisions.

5 0
3 years ago
On February 20, services valued at $60,000 relating to the organization of a corporation were performed in exchange for 1,000 sh
Ganezh [65]

Answer:

Explanation:

The journal entry is shown below:

On February 20

Organization expense A/c Dr     $60,000

          To  Common Stock A/c $25,000       (1,000 shares × $25)

          To  Paid in capital in excess of par-Common Stock $35,000

(Being the organization expense is recorded and remaining balance is credited to the  Paid in capital in excess of par-Common Stock)

3 0
3 years ago
Pizza International, Inc., reported the following information (in thousands): Operating Activities Net Income $ 236 Depreciation
Aleks04 [339]

Answer:

$22,640

The explanation is shown below:-

Explanation:

The computation of cash flow from operating activities using the direct method is shown below:-

                               Direct method

                            Pizza International, Inc.

                          Statement of cash inflow

Cash flow from operating expenses

Cash received from customers       $143,777

($143,951 - $174)

Cash Paid

To suppliers                                      ($53,773)

($45,700 - $651 + $8,724)

To salaries and wages                     ($56,855)

For office expenses                         ($7,730)

($7,785 + $668 - $723)

For income tax expenses               ($2,779)

($50 + $2,729)

Net cash inflow from operating

activities                                            $22,640

It is mainly due to no depreciation expenses for cash products. Depreciation expenses do not contribute to cash outflows. Because of which company has reported large cash inflow from operations compared to near net loss.

3 0
3 years ago
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