Answer:
Deductible expenses: 500 (hobby expense after revenue limit - 2% AGI floor)
.
Explanation:
AGI Before activity: $97,500
Hobby Rev. : $2,500
AGI after activity: 100,000
Hobby expense: 10,550
Hobby expense after revenue limit: 2,500 (lessor of hobby rev. and hobby expense)
2% AGI Floor: 2,000
Deductible expenses: 500 (hobby expense after revenue limit - 2% AGI floor)
$500 is the answer.
Answer:
The answer is 14%
Explanation:
Formula for Future value (FV) FV = PV (1+ni)
Whereas FV= Future value, PV = present value, n= number of years, i= TVOM in percentage
Rearranging the formula for i
i = (FV/PV)-1
So, i = (5,700/5,000)-1
i = 1.14-1
i = 0.14
i = 14%
(0.14x100=14%)
Answer:
Yes it is paid every year
Explanation:
Answer:
July.
Explanation:
Revenue should be recognize when earned. The services were provided o July, so are earned in July.
During June, the customer can cancel the order. The company should not recognize yet. It has to be conservative.
Under cash basis, the services will be recognize on August which, is the payment date. But, on recognition principle we should use accrual basis. The business provide services on July afterwhich it can claim to the customer the amount therefore, it is a realziable gain.
Answer:
FV= $273381.67
Explanation:
Giving the following information we need to find the value of the investment in present day
I=1000
i=0.05
n=115
The general formula to calculate the value of an investment for cases like this is:
FV= I*[(1+i)^n]
FV= 1000*(1,05^115)= $273381.67
