Harvey rents his second home. During the year, Harvey reported a net loss of $45,000 from the rental. If Harvey is an active participant in the rental and his AGI is $80,800, how much of the loss can he deduct against ordinary income for the year

Answers

Answer 1

Answer:

$25,000

Explanation:

Based on the information given we were told that a net loss of the amount of $45,000 from the rental was reported which means that if his is an active participant in the rental and his Adjusted gross income (AGI) was the amount of $80,800 the amount of loss that he can deduct against ordinary income for the year will be $25,000 reason been that his Adjusted gross income (AGI) is less than $100,000 and secondly the standard maximum rental amount that will be deducted for Adjusted gross income (AGI) than is less than $100,000 is $25,000.


Related Questions

CTSOs are especially helpful for people who are applying for which things? Check all that apply.

Answers

Explanation:

I believe it's for employment, military, college

Answer:

Employment. Military Services. College.

Explanation:

able below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price (dollars) Quantity Demanded Marginal Revenue (dollars) Marginal Cost (dollars) Average Total Cost (dollars) $76 100 $76 $25 $139.00 71 200 66 68 103.30 66 300 56 56 87.50 61 400 46 82 86.00 56 500 36 76 84.00 51 600 26 48 78.00 Instructions: Enter your answer as a whole number. If you are entering a negative number include a minus sign. a. What is the monopolist's profit-maximizing level of output

Answers

Answer:

The profit maximizing output for a monopolist is the output level where marginal cost is equal to marignal revenue.

Explanation:

Price  Q Demanded Marginal Revenue Marginal Cost

$76     100                 $76                         $25

71        200                  66                           68

66       300                  56                           56

61        400                  46                           82

56       500                  36                           76

51        600                  26                           48

Arranging the information in the chart above, we can see that for a quantity demanded of 300 units, and a price of $66, marginal revenue and marginal cost are exactly the same, $56.

Thus, the profit-maximizing level of output is 300 units.

Why are visually interesting effects, such as WordArt, to be used sparingly? How does understanding your intended audience’s expectations inform how and when you use a visual effect, such as WordArt? Would you approach using WordArt in the same way in a presentation directed to young adults and a presentation directed to business professionals?

Answers

To go out bad so u want have to do anything...

The last five annual dividends for MysteryCorp have been: $1.25, $1.38, $1.49, $1.60, and $1.69. Next year's dividend is expected to be $2. The current stock price is $199 per share. First, calculate the geometric average annual rate of growth based on the historical dividends (taking into account the previous five -- do *not* include next year's expected dividend in this calculation). Your estimate of RE, the cost of equity, is ________%.

Answers

Answer:

Re = 8.79%

Explanation:

annual growth rates:

($1.38 - $1.25) / $1.25 = 0.104

($1.49 - $1.38) / $1.38 = 0.078

($1.60 - $1.49) / $1.49 = 0.074

($1.69 - $1.60) / $1.60 = 0.056

geometric growth rate = ⁴√(1.104 x 1.078 x 1.074 x 1.056) - 1 = ⁴√1.34976 - 1 = 1.0779 - 1 = 0.0779 = 7.79%

P₀ = Div₁ / (Re - g)

$199 = $2 / (Re - 0.0779)

Re - 0.0779 = $2 / $199 = 0.01

Re = 0.01 + 0.0779 = 0.0879 = 8.79%

explain the scope of macro economic.​

Answers

It mainly covers the measure fundamentals which are macroeconomic theories and macroeconomic policies. ... Here the MacroEconomic theories involve economic growth and development, the theory of national income, money, international trade, employment, and general price level.

Suppose a Canadian firm and a Japanese firm both produce rice. Also suppose the ratio of the price of land divided by the price of labour is lower in Canada than in Japan. If they both seek to maximize economic profit, the Canadian firm will use the two inputs, land and labour, in such a way that its land/labour ratio in production:_________.
A. is equal to one.
B. is higher than that of the Japanese firm.
C. is equal to that of the Japanese firm.
D. is lower than that of the Japanese firm.
E. can't be determined without knowing the absolute prices of land and labour in each country,

Answers

Answer:

The answer is "Option E".

Explanation:

Complete values are the number of dollars that can be traded for just a specified volume.

Cash flows calculate that equity capital to a workforce. In particular, over the period, companies generally have higher equity shares rated to improve their output through investment as well as the automation of a working system. The capital adequacy ratio (K/L) was its proportion of assets to capital levels of intensity.

Labor's high wealth Whenever the labor costs are high, companies will try to replace assets with labor. For example, waitstaff in Europe is fitted with a mitral valve that directly delivers the orders to a kitchen.

It allows the use of labor less efficient and far less necessary. It may not be necessary or desirable to spend in the command post equipment to relatively low labor costs, thus providing a feeling of sadness ratio. The brief variation in labor is simpler than the stock of capital. Financial performance to work is tending may rise in downturns as companies lose their jobs. Migrants and creating a company High national salaries of areas with high working capital will usually occur.

This would allow employers to shift from a low investment wage to a high wage growth ratio. It reduces real wage inequalities and eliminates the investment difference. In western China, for example, workers have moved to SE China, of higher wages.

The fictional country of Anastialia is a small country with rich resources in minerals. In an 8 hr work day it can produce 100 pounds of silver or 50 pounds of copper. If Anastialia decides to produce copper instead of silver it is ignoring the fact that its silver production has a(n)________ to copper.

a. production advantage
b. absolute advantage
c. comparative advantage

Answers

Answer:

c. comparative advantage

Explanation:

As we know that

The one pound of silver would be equivalent to 0.5 pound of copper

And,

one pound of copper would be equivalent to 2 pounds of silver

based on this, there is a comparative advantage with respect to the silver production

Hence, the correct option is c.

Therefore all the other options are incorrect

On August 1, 2020, Ascent Corp. borrowed $80,000 cash on an 8-month note payable with a 7% annual rate that requires Ascent to pay all the interest and principal on April 1, 2021. Assuming the necessary adjusting entry to accrue interest expense was properly recorded on December 31, 2020, the journal entries to record the payment of interest on April 1, 2021 will include a (Round to the nearest whole dollar, if necessary):

Answers

Answer and Explanation:

The computation is shown below:

Interest payable:

= Borrowed amount × rate of interest × given months ÷ total months

= $80,000 × 7% × 5 ÷ 12

= $2,333.33

And,

Interest expense:

= Borrowed amount × rate of interest × given months ÷ total months

= $80,000 × 7% × 3 ÷ 12

= $1,400

So here for recording the payment of interest the interest payable is debited for $2,333.33

The same is to be considered

Novak Company took a physical inventory on December 31 and determined that goods costing $190,000 were on hand. Not included in the physical count were $25,170 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $21,900 of goods sold to Alvarez Company for $30,030, f.o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Novak report as its December 31 inventory

Answers

Answer: $237070

Explanation:

The amount that Novak should report as its December 31 inventory will be:

Inventory in hand = $190,000

Add: Goods bought from Pelzer Corporation = $25,170

Add: Cost of goods sold to Alvarez Company = $21900

Total = $237070

The amount that Novak should report as its December 31 inventory will be $237070

Ivanhoe Corporation acquired End-of-the-World Products on January 1, 2017 for $6500000, and recorded goodwill of $1220000 as a result of that purchase. At December 31, 2018, the End-of-the-World Products Division had a fair value of $5540000. The net identifiable assets of the Division (excluding goodwill) had a fair value of $4838000 at that time. What amount of loss on impairment of goodwill should Ivanhoe record in 2018

Answers

Answer:

Ivanhoe Corporation

The amount of loss on impairment of goodwill that Ivanhoe should record in 2018 is:

$518,000.

Explanation:

a) Data and Calculations:

Goodwill on acquisition = $1,220,000

December 31, 2018:

Fair value of Investee (End-of-the-World Products Division) = $5,540,000

The fair value of the net identifiable assets of the Division (excluding goodwill) = $4,838,000

Goodwill = $702,000 ($5,540,000 - $4,838,000)

Impairment loss = $518,000 ($1,220,000 - $702,000)

b) A Goodwill impairment loss is the recognized reduction in the carrying amount of this intangible asset that is triggered by a decline in its fair value.  When the fair value of acquired Goodwill declines below its carrying amount, Ivanhoe Corporation is expected to write off the difference (the impairment loss) in its income statement for 2018.

Net income for the year was $29,500. Accounts receivable increased $2,500, and accounts payable increased $5,400. Under the indirect method, the cash flow from operations is $32,000.
a. True
b. False

Answers

Answer:

a.

Explanation:

True

hope it helps!

....

if you cause damage to your apartment, your landlord can

Answers

Answer:

...send you out for vandalizing the property?? i dunno lol

Explanation:

Answer:

you could get evicted

Explanation:

15.2 Calculating Flotation Costs: The Wiley Oakley Co. has just gone public. Under a firm commitment agreement, Wiley received $21.39 for each of the 7.75 million shares sold. The initial offering price was $23 per share, and the stock rose to $26.30 per share in the first few minutes of trading. Wiley paid $1,350,000 in legal and other direct costs and $210,000 in indirect costs. What was the flotation cost as a percentage of funds raised

Answers

Answer:

23.16%

Explanation:

net amount of money received by Wliey Oakley = 7,750,000 stocks x $21.39 per stock = $165,772,500

total flotation costs including direct and indirect costs = [($26.30 - $21.39) x 7,500,000] + $1,350,000 + $210,000 = $38,385,000

flotation costs as a percentage of funds raised = $38,385,000 / $165,772,500 = 0.2316 = 23.16%

An important first step in adapting a product to a foreign market is to determine the Group of answer choices personal ethics of individuals in the target market. language problem of the intended market. product's compliancy to irrational beliefs of its potential foreign consumers. regional political parties present in the domestic market. degree of newness of the product as perceived by the intended market.

Answers

Answer:

degree of newness of the product as perceived by the intended market.

Explanation:

As the new product is in the market so the willing of the consumers are to evaluate the production that depends upon the product newness in the market

The other options are incorrect as if the evaluation of the consumers depend upon the irrational beliefs so it would not be intended to purchased

Therefore the last option is correct

hence, the same is to be considered

how the consumer motivated to purchase product. what are the critaria and decision making​

Answers

Answer:

In plain terms, the consumer motivation is the set of cognitive factors driving a customer's determination to make a single sale. The payment is the ultimate product of a "Purchaser's Process" scheme, a three-stage mechanism consisting of:

1.Awareness.

2.Interest.

Determination 

Mohamed income elasticity for good A is equal to -1.5. His current income is Br.40, 000 per year and he buys 200 units of good A annually. If his income falls to Br.36, 000 how many units of good A will he purchase?

Answers

your mom hahahahahahhahaahhaahahjahahahahahhahadmdkuxndzmwcd9oo

Recently us dairies struggling to increase milk sale tried to change the way adults thought about chocolate milk the dairies wanted to.

Answers

Reposition how the consumers perceived chocolate milk.

Cabal Products is a division of a major corporation. Last year the division had total sales of $12,880,000, net operating income of $837,200, and average operating assets of $2,833,600. The company's minimum required rate of return is 16%.
The division's residual income is closest to:_________.
a) $1,290,576
b) $383,824
c) $837,200
d) $906,752

Answers

your answer will be a ma’am

What's the most common reason why the government would stop a
proposed merger?*
to limit consumer choices
O to increase social justice
O to maintain inflation in the economy
to maintain competition in a market

Answers

Answer:

I think its to maintain inflations in the economy (sorry if im wrong)

Explanation:

Answer:

to increase social justice

Jeff sells the New York Times Sunday newspaper at a city corner near several churches. He sells each newspaper for $6.50 after purchasing them for $4.00. Any unsold newspaper can be returned to the New York Times for a $0.75 credit. Jeff expects demand on Sunday to be 75, 100, 125, or 150 newspapers and would like to order one of these four quantities from the New York Times. If the Jeff uses the minimax regret criterion, how many newspapers will he order

Answers

Answer:

0

Explanation:

HELP PLEASE 30 points !

Mary is an agent who works with a direct marketing insurance company. She is more specially known as a(n) ..
A - Broker agent
B- Independent agent
C- Certified agent
D- Captive agent

Answers

Answer:

i say broker agent.......

Answer:

It's D! Captive Agent is the correct answer.

On January 2, 2014, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2015. Expenditures for the construction were as follows: Indian River Groves borrowed $2,200,000 on a construction loan at 12% interest on January 2, 2014. This loan was outstanding during the construction period. The company also had $8,000,000 in 9% bonds outstanding in 2014 and 2015. The interest capitalized for 2014 was:

Answers

Answer:

the expenditures are missing, so I looked for a similar question:

1/2/2014 $400,000 7/1/2014 $1,200,000 12/31/2014 $1,200,000 3/31/2015 $1,200,000 9/30/2015 $800,000

Weighted average expenditures for 2014:

January 1 = $400,000 x 1 = $400,000

July 1 = $1,200,000 x 1/6 = $600,000

December 31 = $1,200,000 x 0 = $0

total = $1,000,000

Since the company borrowed $2,200,000 specifically for this construction project, then capitalized interests = $1,000,000 x 12% = $120,000

A company is completing its annual impairment analysis of the goodwill included in one of its cash generating units (CGU). The recoverable amount of the CGU is $32,000. Other information related to the CGU is provided below:
Goodwill Patents Assets Total
Historical cost $15,000 $10,000 $35,000 $60,000
Depreciation and 0 3,333 11,667 15,000
amortization
Carrying amount $15,000 $6,667 $23,333 $45,000
12/31
Under IFRS, which of the following adjustments should be recognized in the company's consolidated financial statements?
a) Decrease goodwill by $13,000
b) Decrease goodwill by $15,000
c) Decrease goodwill by $3,250; patents by $2,167; and other assets by $7,583
d) Decrease goodwill by $4,333; patents by $1,926; and other assets by $6,741

Answers

Answer:

a) Decrease goodwill by $13,000

Explanation:

In IFRS, whenever recoverable amount of a cash generating unit is less than the carrying amount, an impairment loss is recognized. After calculating an impairment loss, it is then allocated to the carrying amount of Cash generating unit's goodwill.

Impairment loss in this case is = Total carrying amount - Recoverable amount of CGU = $45,000 - $32,000 = $13,000. Hence, the impairment loss will be allocated to the carrying value of the goodwill, leading to decrease in goodwill by $13,000.

John (45) and Cynthia (46) are married, and they will file a joint return. During the year, they earned investment income consisting of: $200 interest income from a savings account with their local bank, reported on Form 1099-INT. $350 interest income from a certificate of deposit held with another local bank, reported on Form 1099-INT. $100 in dividends from a savings account with a local credit union, reported on Form 1099-INT. $250 interest income from a U.S. Treasury note, reported on Form 1099-INT. $500 tax-exempt interest income from a municipal bond investment, reported on Form 1099-INT. $1,700 in ordinary dividends from a mutual fund investment, reported on Form 1099-DIV. Complete John and Cynthia's Schedule B (Form 1040), Interest and Ordinary Dividends.

Answers

Answer:

                          Calculation of Net taxable income

Particulars                                                        Amount        Amount

Interest income from savings interest                                   $200

Interest income from certificate deposit                                $350

Dividend from saving account with                                        $100

local credit union  

Interest income from us treasury note                                    $250

Tax exempt interest from municipality bond                          $500

Ordinary dividend                                                                     $1,700

Gross total income                                                                    $3,100

Income exempt

Dividend from saving account                           $100

Dividend from treasury note                              $250

Tax exempt interest from municipality bond    $500              $850

Net taxable income                                                                   $2,250

Hart corporation owns machinery with a book value of 285,000. It is estimated that the machinery will generate future cash flows of 300,000. The machinery has a fair value of 210,000. Hart should recognize a loss on impairment of:___________
a) 0
b) 15,000
c) 75,000
d) 90,000

Answers

Answer- 0
The correct answer is a. 0.

This is because the loss on impairment is calculated by subtracting the recoverable value from the carrying value, and is recorded only if carrying value is higher than recoverable value.

Hope this helps....

Which psychographic or lifestyle trend does this study support

Answers

Answer:

where is the study at?

Explanation:

Kieso Company borrowed $630,000 for five months. The annual interest rate on the loan was 9%. Kieso's fiscal year ends on December 31. Kieso borrowed the $630,000 one month prior to the end of its last fiscal year and paid the $630,000 plus interest back four months into its current fiscal year. How much interest expense, if any, would Kieso report at the end of its last fiscal year and at the end of its current fiscal year

Answers

Answer and Explanation:

The computation of the interest expense is shown below'

The following formula should be used:

= borrowed amount × rate of months × number of months ÷ total number of months

End of last year is

= $630,000 × 9% × 1 ÷ 12

= $4,725

And,

Current fiscal year is

= $630,000 × 9% × 4 ÷ 12

= $18,900

We simply applied the above formula so that the correct value could come

And, the same is to be considered

Assume that Waycross Manufacturing manages its cash flow from its home office. Waycross controls cash disbursements by category and month. In setting its budget for the next six months, beginning in July, it used the following managerial guidelines:
Category Guidelines
Purchases Pay half in current and half in following month.
Payroll Pay 90% in current month and 10 percent in following
month.
Loan Payments Pay total amount due each month.
Predicted activity for selected months follow:
Category May June July August
Purchases $30,000 $46,000 $48,000 $50,000
Payroll 100,000 130,000 120,000 100,000
Loan Payments10,000 10,000 12,000 12,000
Prepare a schedule showing cash disbursements by account for July and August.

Answers

Answer:

Waycross Manufacturing

A Schedule, showing cash disbursements by account for July and August:

Category                                         July          August

Purchases                                 $ 47,000     $ 49,000

Payroll                                          121,000      102,000

Loan Payments                            12,000         12,000

Total cash disbursements      $180,000    $163,000

Explanation:

a) Data:

Predicted activity for selected months follow:

Category              May         June           July        August

Purchases       $30,000   $46,000    $48,000   $50,000

Payroll              100,000    130,000     120,000    100,000

Loan Payments 10,000      10,000       12,000       12,000

b) Calculations:

Category                               May         June           July        August

Purchases (50/50)          $15,000    $15,000

                                                           23,000    $23,000

                                                                             24,000     $24,000

                                                                                                25,000

Purchases                                                          $47,000     $49,000

Payroll (90/10)                $90,000   $10,000

                                                         117,000     $13,000

                                                                          108,000      $12,000

                                                                                               90,000

Payroll                                                              $121,000    $102,000

     

Loan Payments (100%)  10,000       10,000      12,000         12,000

If a firm is deciding upon the acceptance of a project with a value of $10,000, and if the client has a good credit history, the firm will most likely use the grid chart in the decision-making process.
a) true
b) false

Answers

Answer:

FALSE

Explanation:

The Decision-Making Process includes Identifying the need for a decision, Determining the outcome of the decision, Identifying all alternative actions, the benefits and consequences of each and Making and Evaluating the decision.

Decision-Making Tools includes the use of decision-making grid to differenciate or separates factors of decision to be made, the use of Gantt chart to shows phases of project to completion and Information technology and others.

The grid chart shows the relationship between input and output documents.

Cabell Products is a division of a major corporation. Last year the division had total sales of $21,720,000, net operating income of $1,346,640, and average operating assets of $4,778,400. The company's minimum required rate of return is 15%. The division's margin is closest to: Dacker Products is a division of a major corporation. The following data are for the most recent year of operations:
Sales $38,380,000
Net operating income $ 3,758,960
Average operating assets $ 9,900,000
The company's minimum required rate of return 15%
The division's residual income is closest to:
Agustin Industries is a division of a major corporation. Data concerning the most recent year appears below:
Sales
Net operating income
Average operating assets $17,540,000 $ 648,980 $ 4,560,000
The division's return on investment (ROI) is closest to:
Agustin Industries is a division of a major corporation. Data concerning the most recent year appears below:
Sales $ 17,810,000
Net operating income $ 783,640
Average operating assets $ 4,640,000
The division's turnover is closest to:__________.

Answers

Answer:

1. Cabell Product Margin = Net operating income / Sales

Cabell Product Margin = 1346640 / 21720000

Cabell Product Margin = 0.062

Cabell Product Margin = 6.20%

2. Dacker Products Residual income = Net operating income - ( Average operating assets * Minimum required rate of return)

Dacker Products Residual income = 3758960 - (9900000*15%)

Dacker Products Residual income = 3,758,960 - 1,485,000

Dacker Products Residual income = 2,273,960

3. Agustin Return on investment = Net operating income / Average operating assets

Agustin Return on investment = 648980 / 4560000

Agustin Return on investment = 0.142320175

Agustin Return on investment = 14.23%

Agustin Turnover = Sales / Average operating assets

Agustin Turnover = 17810000 / 4640000

Agustin Turnover = 3.838362068965517

Agustin Turnover = 3.84

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Which sentence would most likely be found in a cause-and-effect text?O The US quarter is a popular coin that comes in many varieties.O By saving money over time, kids can afford big purchases.O Coin collecting is a popular hobby for people of all ages.O The Lincoln penny was the first example of a presidential coin. Find m2H.E81A. 81B. 162C. 89D. 99 What are sets and how can they be represented ? 50 points the question is in the picture. When a country (or a person) borrows money to pay yearly debt they are involved in this type of spending.surplus spendingC. consumer spendingb. deficit spendingd. corporate spendinga. lim x tends to 2 , then what is the value of (tanx + cotx) ( tanx - cotx) Which lines are parallel? Check all that apply.Lines b, c, d, e, f are cut by transversal a. Clockwise from top left, the angles formed by lines b and a are blank, 89.5 degrees, blank, blank; by lines c and a are blank, blank, blank, 91.5 degrees; by lines d and a are blank, blank, 89.5 degrees, blank; by lines e and a are 88.5 degrees, blank, blank, blank; by lines f and a are blank, blank, 90.5 degrees, blank.b is parallel to fb is parallel to dc is parallel to ec is parallel to dd is parallel to fe is parallel to f Thanks for your interest in Rev. Please listen carefully to the audio file all the way till the end and please edit and transcribe as needed, correcting misspellings, researching names and attributing speech through the correct speaker to create an accurate and complete transcript. Let's talk a little bit about Rev and its expectations. On a test of 25 items, 18 were answered correctly. What percent were answered correctly? 84192672?por favor no tengo ni idea Which of the following are characteristics of a state? APopulation & SovereigntyBSovereignty and a MilitaryCPublic projects and a governmentDA Legal system & a territory HELPPPPP ME PLEASEEEEthe product of 9/10 and 8/9 is...A: between 0 and 1 B: between 1 and 2 C: between 2 and 3 D: greater than 3 Por lo general, el invierno es _____ fro _____ el verano.A.menos, como B.ms, queC.tan, como D.ms, de Will mark brainliest Rewrite the following formal sentence in a more conversational style. This may require the use of more than one sentence. Make changes to bothsentence structure and word choices.It ill becomes us to cast about for someone to blame, to flee unpleasant realities,or to hide the clear facts in a cloud of finger-pointing-we must take responsibility. 1. What is the probability of flipping heads on a coin and rolling either a 2 or a 3 on a 6-sidednumber cube?HELP PLS HURRY!! Perimeter of 316 and 67 m i need help ill mark brainliest What is the significance of San Antonio's founding in 1718?the building of ten presidioslocation of a major port citythe development of several missionsneutral ground between Spain and the United Statesplz hurry The following units of an inventory item were available for sale during the year: Beginning inventory 8 units at $49 First purchase 15 units at $51 Second purchase 27 units at $53 Third purchase 14 units at $55 The firm uses the periodic inventory system. During the year, 26 units of the item were sold. The value of ending inventory rounded to the nearest dollar using average cost is (Round average cost per unit to three decimal place.)