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3 years ago

During 2021, Phil Rupp presents the following transactions:_______.

Business

1 answer:

astraxan [27]3 years ago

8 0

Answer:

Assuming Phil Rupp files as single with one valid dependent in 2017, his gross income is __$56,864__, while his adjusted gross income is __$44,227_.

Explanation:

a) Data and Calculations:

Bank loan proceeds received (to purchase a new car) of $15,000

Wages of $56,821

Contribution to a Roth IRA of $5,000

Pass-through loss from a partnership of $7,637

Interest income earned of $43

Gross income:

Wages of $56,821

Interest income earned of $43

Total gross income = $56,864

Adjusted gross income:

Gross income of $56,864

less:

Contribution to a Roth IRA of $5,000

Pass-through loss from a partnership of $7,637 (less than 20% of $56,864)

Adjusted gross income = $44,227 ($56,864 - $5,000 - $7,637)

b) With Pass-through each partner's share of business income, gain, deduction, or loss is passed through to the owner and reported on the owner's personal federal income tax return for the tax year. According to the Tax Cuts and Jobs Act of 2017, individual business owners are entitled to up to 20% of their income as pass-through losses.

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System testing:

yarga [219]

Answer:

C) tests the functioning of the system as a whole.

Explanation:

System testing refers to a process in which a complete system is evaluated to make sure that it works properly and fulfills the requirements. According to this, the answer is that system testing tests the functioning of the system as a whole.

The other options are not right because system testing doesn't separate components or programs as it involves the actual evaluation of the whole system to find defects and it is done before the acceptance testing.

3 0

3 years ago

39. You expect to receive $5,000 in 25 years. How much is it worth today if the discount rate is 5.5%?

ivann1987 [24]

Answer:

PV= $1,311.17

Explanation:

Giving the following information:

Future Value (FV)= $5,000

Number of periods (n)= 25 years

Interest rate (i)= 5.5% compounded annually

T<u>o calculate the present value (PV), we need to use the following formula:</u>

<u></u>

PV= FV / (1+i)^n

PV= 5,000 / 1.055^25

PV= $1,311.17

6 0

3 years ago

CrochetCo is considering an investment in a project which would require an initial outlay of $350,000 and produce expected cash

Lelu [443]

Answer:

Ans. A) NPV= -$9306

Explanation:

Hi, the first thing we need to do is to find the after-tax cost of the firm's capital, and since all capital sources are expressed in terms of after-tax percentage, we just multiply each proportion of capital by its costs, I mean

Long term Debt (7%) * 25% +Preffered Stock(11%)*15% + Common Stock(15%)*60%

The answer to this is 12.40%.

Now, we can find the net present value of this project by using the following formula.

$NPV=-InitialOutlay+\frac{CashFlow((1+Cost of Capital)^{n} -1)}{Cost of Capital(1+Cost of Capital)^{n}}$

$NPV=-350,000+\frac{95,450((1+0.124)^{5} -1)}{0.124(1+0.124)^{5}} =-9,306.5$

Since the expected cash flow takes place 5 times form year 1 to 5, and is equal to $95,450, "n" is equals to 5 and "CashFlow" is equal to $95,450.

Therefore, the NPV of this project is -$9,306, which is answer A)

Best of luck.

3 0

3 years ago

A ________ is a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the co

BaLLatris [955]

Answer:

"B"

Explanation:

A profitable customer is a person , household or company that over time yields a revenue stream that exceeds by an acceptable amount the company's cost stream of attracting , selling and servicing that customer.

They are necessary for the existence of a business into the foreseeable future as profit is key to the survival of all businesses

In identifying a profitable customer ,one needs to

define who is customers are
products bought by them
identify the most profitable products
Services employed by them
Related cost to managing and retaining them

4 0

3 years ago

Darryl would like to work as an accountant full time. A full-time position is not available, however, so he must accept a part-t

ivolga24 [154]

Answer: Employed.

Explanation:

Daryl is employed, because he has a job, where he works 15 hours a week. The job although it is not a full-time job still is a form of employment, where Daryl works and is paid.

5 0

3 years ago