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m_a_m_a [10]
3 years ago
5

Brad owns a small townhouse complex that generates a loss during the year.

Business
1 answer:
My name is Ann [436]3 years ago
7 0

Answer:

a. Brad might be allowed to deduct up to $25,000

or Brad may be allowed to deduct the loss if he works more than 750 hours as a material participant in connection with the townhouse complex and more than half of personal service.

b. The reduction is equal to 50% of AGI in excess of $100,000. The deduction will be phased out completely if AGI reaches $25,000

Explanation:

Adjusted Gross Income is the final taxable income after all the allowable deductions are adjusted in the income. A tax payer can deduct up to $25,000 for the passive losses. This is standard deduction which Brad can deduct from the income.

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The number of years a person that age is expected to have left to live on average is known as?
aleksley [76]
Perhaps, life expectancy...  That may be your answer.

6 0
2 years ago
Read 2 more answers
Mayan company had net income of $33,480. the weighted-average common shares outstanding were 9,300. the company has no preferred
Dvinal [7]

Answer:

Earnings Per Share = $3.6

Explanation:

Given

Net Income Average = $33,480

Weighted-average common shares outstanding = 9,300

Shares sold = 4,300

Required

Calculate the company's earnings per share.

Earning per share is calculated as thus;

Let N represent the Net Income; P represent the Preferred Dividend and W represent the Weighted-average common shares outstanding

Earnings Per Share = \frac{N - P}{W}

The question says there was no preferred stock;

So, P= 0

Substitute $33,480 for N and 9,300 for W.

The formula becomes;

Earnings Per Share = \frac{33,480 - 0}{9300}

Earnings Per Share = \frac{33,480}{9300}

Earnings Per Share = 3.6

Hence, the calculated Earnings per share of Mayan company is $3.6

3 0
2 years ago
Green Valley Steel had sales of $1,000,000 and collections of $760,000, leaving a balance of $240,000 in accounts receivable as
sammy [17]

Answer: d

Explanation:

8 0
2 years ago
For financial accounting purposes, what is the total amount of product costs incurred to make 24,500 units
Anna71 [15]

Answer:

The product cost for 24,500 units is $497,350.

Explanation:

The reason is that the the product cost always includes all the variable production cost and specific fixed production cost. In this scenario, direct material cost, direct labor cost, variable manufacturing overhead cost are variable production cost whereas the fixed manufacturing cost is specific fixed production cost which will form part of product cost. The remainder of the cost left is period cost.

Direct materials (24,500 * $7.7 per unit)                               $188,650

Direct labor (24,500 * $4.7 per unit)                                       $115,150

Variable manufacturing overhead (24,500 * $2.2 per unit)  $53,900

Fixed manufacturing overhead (24,500 * $5.7 per unit)      <u>$139,650 </u>

Total product costs                                                                 $497,350

7 0
2 years ago
You are considering in investing one of the two options: Investment A requires a $255,000 upfront payment from you and generates
Ainat [17]

Answer:

Option (E) Never

Explanation:

NPV from Investment Project 1 = ($255,000) + $21,000 / (r)

NPV from Investment Project 2 = ($175,000) + $29,000 / (r)

The question says that find the number of years that equals the total return which means the NPV from both investments is equal:

($255,000) + $21,000 / (r) = ($175,000) + $29,000 / (r)

$21,000 / (r) - $29,000 / (r) = $255,000 - $175,000

-$8000 / r = $80,000

r = - 8000 / 80000 = -0.01 = - 10%

The negative sign shows that project A can not make a positive NPV that will be equal to that of project B and vice versa. It can also be illustrated by putting the value of r in "NPV from Investment Project 1"

NPV from Investment Project 1 = ($255,000) + 21000 / -0.01

= ($255,000) - $210,000 = ($465,000)

This shows that the company will have to make losses of $465,000 which is not possible because company will not select projects with negative NPVs.

3 0
3 years ago
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