Answer:
Option C is correct.
The correct sequence is (2), (3), (1)
Explanation:
(2) Amounts deductible under other Code sections without regard to the nature of the activity, such as property taxes and home mortgage interest. should be deducted first
(3) Amounts deductible under other Code sections if the activity had been engaged in for profit, but only if those amounts do not affect adjusted basis (e.g., maintenance, utilities, and supplies). are deducted next
(1)Deductions affecting adjusted basis (e.g., depreciation) are taken next. At any point where the expenses exceed income, the deduction is limited to the remaining income.
Answer:
For detailed tables of balance sheet refer to the attached files
Explanation:
There are many ways you can pay for your college tuition. First, you can find a part time job. Most colleges are gracious to students, especially working students. So they would usually allow installments on the tuition fee, with some added terms. If not, there would always be university scholarships if you happen to be doing well in your studies. There also is the option of student loans for those students who need help in paying for the tuition.
Answer:
Increase in tax rate will reduce income form bond but will not affect the benefits derivable from the purchase of the new luxury auto.
Explanation:
First, a look at the after tax rates for when tax is 35% and when it is increased to 50%.
Step 1: Compute the after tax rate when tax is 35%
=Interest rate x (1-tax rate)
= 0.08 x (1- 0.35)
-5.2%
Step 2: Compute the after tax rate when tax is increased to 50%
= Interest rate x (1- tax rate)
= 0.08 x (1-0.5)
=4%
The first outcome is that an increase in tax rate leads to a decrease in income. Meaning an increased tax rate reduces the income from the bonds.
However, an increase in tax rate although it will affect the income will have no effect on the new luxury condo, that Ms V wants to buy. This is because, the benefits Ms V will get from the auto cannot be taxed as compared with the interest on the bond.
Hence, it becomes easier for Ms V to buy the luxury auto than invest in bonds if the tax rate should increase
As stated below, Shelby should have received around 1900 pesos due to the exchange rate. The exchange rate fluxtuates and everything is based on the current value at the time of the exchange. When you go to make an exchange, you will able to see what your rate of exchange is based on your currency and the one you are exchanging for.
