I'm confused. I don't see mortgage 1?
Answer:
Grocery store
Explanation:
Groceries are sold on daily bases as people's need are daily met. The purchases ration is higher than that of automobiles.
OMB's predominant mission is to assist the President in overseeing the preparation of the Federal budget and to supervise its administration in Executive Branch agencies.
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Answer:
Betty's AGI = $28,934
Complete Page 1 of Form 1040 for Betty is attached.
Explanation:
<u>Adjusted gross income:</u>
Adjusted gross income (AGI) is an income measurement for the purpose of calculation of tax payable.
AGI is calculated by deducting allowable deduction from taxable income.
<u>Notes for the working attached:</u>
- The salaries and expenses are deductible as business expenses.
- Depreciation and real estate taxes are deducted as rental/royalty-related deductions.
- Interest income is included in the adjusted gross income.
- Alimony expenses are deductible from the adjusted gross income.
- The revenue from apartment building is assumed as interest income and NOT the total income.
- The real estate and charitable contributions are itemized deductions.
Answer:
The total amount of cash received is $91,350,000
Explanation:
The amount of cash proceeds realized from the bond issuance is the 99% of face value of $90 million plus the coupon interest due from January 2018(date of the bond) to April 1 ,2018(the date of bond issuance),that is three months of coupon interest payment.
The bond proceeds is computed as below:
Discounted bond price 99%*$90,000,000 =$ 89,100,000
Three months of interest 10%*$90,000,000*3/12 =$2,250,000
Total amount received from bond issue $91,350,000
