Answer:
$2,000
Explanation:
Calculation for How much of the Sue's loss is disallowed due to her tax basis or at-risk amount
Based on the information given we were told that that Sue is been allocated a 10% of the debt which resulted in a tax basis of the amount of $7,000 as well as an at-risk amount of $5,000 which means that the amount that the Sue's loss will be disallowed due to her tax basis Amount or at-risk amount will be calculated as :
Using this formula
Disallowed Sue's loss=Tax basis-At-risk amount
Let plug in the formula
Disallowed Sue's loss=$7,000-$5,000
Disallowed Sue's loss=$2,000
Therefore How much of the Sue's loss is disallowed due to her tax basis or at-risk amount will be $2,000
Jamie is single. In 2020, she reported $108,000 of taxable income, including a long-term capital gain of $5,800. What is her gross tax liability? (Round your answer to the nearest whole dollar amount.) (Use the tax rate schedules, long-term capital gains tax brackets.)
a. $19.478
b. $20143
c. $18,728
d. 516 200
Answer:
$19,478
Explanation:
Computation of tax liability
i. Total income excluding LTC gain = 108,000 - 5,800 = 102,200
ii. Tax on 102,200 as per single tax schedule = 14605.5+((102200-85525)*24%) = 18607.50
iii. Tax on LTC gain at 15% = 5800 * 15% = 870
So, Gross Tax liability = $18607.50 + $870 = $19477.50 = $19,478
Note: As per Long term capital gain schedule
Billie Bob purchased a used camera (five-year property) for use in his sole proprietorship in the prior year. The basis of the camera was $2,400. Billie Bob used the camera in his business 60 percent of the time during the first year. During the second year, Billie Bob used the camera 40 percent for business use. Calculate Billie Bob's depreciation deduction during the second year, assuming the sole proprietorship had a loss during the year.
Answer:
Billie Bob
Depreciation deduction during the second year is:
$192.
Explanation:
a) Data and Calculations:
Property basis value = $2,400
Useful life = 5 years
Depreciable rate per year = $2,400/5 = $480
Depreciation deduction during the second year = $480 * 40% = $192
b) The depreciation deduction for year 2 is limited to the 40% business use. This implies that Billie Bob cannot claim the 100% depreciation of $480 for the property since he could only use it 40% for his business.
What is the fundamental economic problem?
..........................
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?
Chang, an Non Resident Alien, is employed by Fisher, Inc., a foreign corporation. In November, Chang spends 10 days in the US performing consulting services for Fisher’s U.S. branch. She earns $5,000 per month. A month includes 20 workdays. How much is her U.S.-sourced income, is it exempt or non-exempt, and why?
Answer and Explanation:
The computation of the amount considered as US sourced income is as follows;
= $5,000 × 10 days ÷ 20 days
= $2,500
The following are the requirement related to the fully exempt US source income is as follows:
1. The service should be perfomed by an United States NRA for 90 days or less
2. The compensation should not be more than $3,000
3. The service should be performed on behalf of
a. NRA, foreign corporation or partnership who not engaged in US trade
b. The office should be maintained in US by an individual who should be the citizen of US
So the same is not allowed for exemption
Doing the right task is known in management as what
Answer:
Doing the right task is known in management as performance.
Explanation:
Management ensures that the right tasks are performed by coordinating the various activities that help it to achieve goals. It also plans the right tasks to be carried out in order to achieve set goals and objectives. In doing all these, it also considers the cost and benefit to be incurred and derived respectively from executing its responsibilities. Management is always interested in minimizing costs while maximizing benefits. Management is also concerned with efficiency, by which it minimizes the wastage of resources (such as time, money, and efforts) and ensures optimum utilization of all its resources.
Perpetual Inventory Using Weighted AverageBeginning inventory, purchases, and sales for J101 are as follows:Oct. 1 Inventory480 units at $1413 Sale280 units22 Purchase600 units at $1629 Sale450 unitsa. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places.$fill in the blank 1160.44 per unit
Answer:
The weighted average unit cost after the October 22 purchase is $15.50
Explanation:
Under the weighted average method of inventory valuation, the closing inventory is valued at weighted average cost.
It can be calculated as follow
Weighted average unit cost = Inventory Balance / Numbers on units in Inventory
_________________________________ Balance
Date __ Details ___Units_ Rate__Value _ ( Units_Value __ WA cost )
Oct. 1 _ Inventory__480__ $14 __$6,720_( 480__$6,720__ $14 )
Oct.13 _Sale______280__ $14 __$3,920_( 200__$2,800__ $14 )
Oct.22 _Sale_____ 600__ $16 __$9,600_( 800__$12,400__$15.5 )
Placing outstanding values in the above formula
Weighted average unit cost = $12,400 / 800 units = $15.50 per unit
Question 2. Suppose the mean age of video game players is 28, the standard deviation is 9 years, and the distribution is bell shaped. To assist a video game company’s marketing department in obtaining demographics to increase sales, determine the proportion of players who are
a. between 19 and 28
b. between 28 and 37
c. older than 37
Answer:
0.34134 ; 0.84134; 0.15866
Explanation:
Given that:
Mean (m) = 28
Standard deviation (s) = 9
Proportion of players;
a. between 19 and 28
P(x < 28) - P(x < 19)
Z = (x - mean) / standard deviation
[Z = (28 - 28) / 9] - [Z = (19 - 28) /9]
P(Z < 0) - P(Z < - 1)
0.5 - 0.15866 [Z probability calculator]
= 0.34134
b. between 28 and 37
P(x < 37) - P(x < 28)
Z = (x - mean) / standard deviation
[Z = (37 - 28) / 9] - [Z = (28 - 28) /9]
P(Z < 1) - P(Z < 0)
0.84134 - 0 [Z probability calculator]
= 0.84134
c. older than 37
P(x > 37)
Z = (x - m) / s
Z = (37 - 28) / 9
Z = 9/9 = 1
P(Z > 1) = 1 - P(Z < 1)
P(Z > 1) = 1 - 0.84134
P(Z > 1) = 1 - 0.84134
P(Z > 1) = 0.15866
8-4 Valuing Commercial Real Estate BuildingOne Properties is a limited partnership formed with the express purpose of investing in commercial real estate. The firm is currently considering the acquisition of an office building that we refer to simply as building B. Building B is very similar to building A, which recently sold for $36,960,000. BuildingOne has gathered general information about the two buildings, including valuation information for building A:
Answer:
the question is incomplete:
Buildings A and B are similar in size (80,000 and 90,000 square feet, respectively). However, the two buildings differ both in maintenance costs ($23 and $30 per square foot) and rental rates ($100 versus $120 per square foot). At this point, we do not know why these differences exist. Nonetheless, the differences are real and should somehow be accounted for in the analysis of the value of building B using data based on the sale of building A. Building A sold for $462 per square foot, or $36,960,000. This reflects a sales multiple of six times the building’s net operating income (NOI) of $6,160,000 per year and a capitalization rate of 16.67%.
NOI of building A = ($100 x 80,000 ft²) - ($23 x 80,000 ft²) = $6,160,000
NOI of building B = ($120 x 90,000 ft²) - ($30 x 90,000 ft²) = $8,100,000
building B's market value = NOI / capitalization rate = $8,100,000 / 0.1667 = $48,600,000
property value = $48,600,000 / 90,000 ft² = $540 per ft²
The following information was available from the inventory records of Sheffield Corp. for January: Units Unit Cost Total Cost Balance at January 1 9200 $9.73 $89516 Purchases: January 6 6400 10.31 65984 January 26 7900 10.71 84609 Sales January 7 (7700 ) January 31 (11300 ) Balance at January 31 4500 Assuming that Sheffield does not maintain perpetual inventory records, what should be the inventory at January 31, using the weighted-average inventory method, rounded to the nearest dollar
Answer:
$45,990
Explanation:
The Weighted Average Cost Method, calculates a new Unit Cost with every purchase that is made. This is applicable to perpetual Inventory method. In this case we are required to use the periodic Inventory method (Sheffield does not maintain perpetual inventory records). Thus our Unit Cost is calculated from Inventory available for Sale.
Step 1
Units Available For Sales Calculation :
Opening Balance 9,200
Add Purchases (6,400 + 7,900) 14,300
Units Available for Sale 23,500
Less Units Sold (7700 + 11300) (19,000)
Ending Inventory Units 4,500
Step 2
Unit Cost = Total Cost ÷ Units Available for Sale
= ($89,516 + $65,984 + $84,609) ÷ 23,500
= $10.22
Step 3
Ending Inventory = Units in Stock × Unit Cost
= 4,500 × $10.22
= $45,990
A payroll tax is collected by which of the following methods?
A.
It is automatically deducted as a percentage of the paycheck.
B.
The paycheck is brought to the bank for the tax to be deducted.
C.
The payroll tax is paid with the income tax on April 15 of each year.
D.
The government deducts a percentage of your paycheck directly from your personal bank account.
Please select the best answer from the choices provided
A
B
C
D
Answer:
A.
It is automatically deducted as a percentage of the paycheck.
Explanation:
just did it on the exam
Factor Weight A B C
Convenience 0.15 85 85 82
Parking facilities 0.20 70 91 91
Display area 0.18 87 97 90
Shopper traffic 0.27 95 90 92
Operating costs 0.10 86 90 97
Neighborhood 0.10 88 92 84
1.00
Using the above factor ratings, calculate the composite score for each location.
Answer and Explanation:
The composite score for each location is as follows;
The Composite score for Location A is
= 85 × 0.15 + 70 × 0.2 + 87 × 0.18 + 0.27 × 95 + 86 × 0.1 + 88 × 0.1
= 85.7
= 86
The Composite score for Location B is
= 85 × 0.15 + 91 × 0.2 + 97 × 0.18 + 90 × 0.27 + 90 × 0.1 + 0.1 ×92
= 90.91
= 91
The Composite score for Location C is
= 82 × 0.15 + 91 × 0.2 + 90 × 0.18 + 92 × 0.27 + 97 × 0.1 + 0.1 ×84
= 89.64
= 90
How can lessening utility bills reduce inflation?
Answer:
Inflation can occur when prices rise due to increases in production costs, such as raw materials and wages. Thus, lessening utility bills will reduce.
Explanation:
Your healthy 63-year-old neighbor is about to retire and comes to you for advice. From talking with her, you find out she was planning on taking all the money out of her company’s retirement plan and investing it in bond mutual funds and money market funds. What advice should you give her? Reilly, Frank K.; Brown, Keith C.. Investment Analysis and Portfolio Management (Text Only) (p. 56). Cengage Textbook. Kindle Edition.
Answer:
Both mutual funds and money market funds are similar in the sense that they pool money from several investors in a variety of instruments. The difference is that money market funds pool the money in very liquid, short-term securities, while mutual funds do the same but in less liquid, longer-term securities.
The 63-year-old neighbor should therefore split the money around 60/40, 60% of the funds for mutual funds, in order to have long-term security, and 40% in the money market funds, in order to have quick cash available when needed.
Rivera underpaid her income tax by $45,000. The IRS can prove that $40,000 of the underpayment was due to fraud. a. Determine Rivera's civil fraud penalty. $fill in the blank 1 b. Rivera pays the penalty five years after committing the fraudulent act. Compute the present value of Rivera's penalty. Assume her after-tax rate of return on available cash is 9%. The present value factor for 5 years and 9% is 0.6499. $fill in the blank 2
Answer:
Rivera
a. Rivera's civil fraud penalty is:
$5,000 ($45,000 - $40,000)
b. Present value of Rivera's penalty is:
$3,249.50 ($5,000 * 0.6499)
Explanation:
a) Data and Calculations:
Income tax underpayment = $45,000
Underpayment due to fraud = $40,000
Civil fraud penalty = $5,000 ($45,000 - 40,000)
Rate of return = 9%
Number of years = 5 years
Present value factor = 0.6499
b) The present value of the penalty represents the $5,000 discounted to its present value using the discount factor of 0.6499. This results into $3,249.50 after 5 years at an interest rate of 9% per annum.
An investor implements a collar strategy by purchasing 100 shares of the Tesla stock at a price of $840 per share, selling 100 call options on the Tesla stock with a strike price $880 per share, and buying 100 put option on the Tesla with a strike price of $800. The premium of the call option is $35 per share and the premium of the put option is $32. At which stock price at the maturity of the option will the investor break even
Answer: $837
Explanation:
The following information can be gotten from the question:
Purchase price = $840 per share
Premium of call option = $35 per share
Premium of put option = $32 per share
From the above, the premium received will be:
= $35 - $32 = $3
Investors break even will then be:
= Purchase price - Premium received
= $840 - $3
= $837
ABC Company issues $425,000 of bonds on January 1, 2021 that pay interest semiannually on June 30 and December 31. A portion of the bond amortization schedule appears below:
Cash Interest Change in Carrying
Date Paid Expense Carrying Value Value
01/01/2021 $599,391
06/30/2021 $14,875 $11,988 $-2,887 596,504
12/31/20211 4,875 11,930 -2,945 593,559
What is the original issue price of the bonds?
a. $592,557
b. $440,000
c. $590,534
d. $459,800
Answer:
$599,391
Explanation:
Based on the information given we were told that the bonds amount of $425,000 which is the Face Value of Bonds were issued by the company on January 1, 2021 which means that ORIGINAL ISSUE PRICE of the bonds will be the Carrying Value or the Issues Value of Bonds of the amount of $599,391 that was issued on the same date the Company issues the face value bonds of the amount of $425,000 which is January 1, 2021 ( 01/01/2021).
Therefore the original issue price of the bonds will be $599,391
Weather, Inc., a domestic corporation, operates in both Fredonia and the United States. This year, the business generated taxable income of $600,000 from foreign sources and $900,000 from U.S. sources. All of Weather’s foreign- source income is in the general limitation basket. Weather’s total taxable income is $1.5 million. Weather pays Fredonia taxes of $228,000. What is Weather’s FTC for the tax year? Assume a 34% U.S. income tax rate.
Answer:
$204,000
Explanation:
FTC for the tax year = US Tax liability*(Foreign taxable income/Worldwide taxable income)
FTC for the tax year = ($1,500,000*34%)*($600,000/$1,500,000)
FTC for the tax year = $510,000*0.4
FTC for the tax year = $204,000
So, Weather Inc's FTC for the tax year is $204,000
Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a list of all the jobs for the quarter: Job. No. Balance 356 $ 450 357 1,235 358 378 359 689 360 456 Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of $500 on each job. What is the balance of Sales for Adams Company at the end of the first quarter
Answer: $2,685
Explanation:
For the balance of Sales, look at Jobs that were sold in the first quarter.
Jobs 356 and 357.
They were sold at $500 profit each.
Balance of sales = (450 + 500) + (1,235 + 500)
= $2,685
During her womanhood ceremony, Dasheena Cochise spends 4 days being tested and ultimately being renamed and remade as a member of her community. Which of the following is not true of this ceremony
A. it is a rite of passage
B. it reproduces a social order
C. it translates beliefs into action
D. it communicates values through symbols
E. it affirms sacred cycles (including life cycles)
F. it is essentially about the individual rather than the community
Answer:
The statement that is not true of this ceremony is:
F. it is essentially about the individual rather than the community
Explanation:
The focus of this communal rite of passage is not the individual but the community because during the rite, the sense of the individual is replaced by the sense of the community. It instils in the initiates a sense that they are no longer individuals but members of the community with some rights and privileges. Community values are communicated through a sophisticated system of beliefs and practices that affirm sacred cycles.
A responsibility center in which the department manager is responsible for costs, revenues, and assets for a department is called:
a. a cost center
b. a profit center
c. an operating center
d. an investment center
Answer:
d. an investment center
Explanation:
The investment center is the center that has the department manager responsibility towards cost, revenues, and the assets for the particular department.
Mainly the divisional manager responsible for the revenue and the cost
In addition to this, they also make the decisions which investment should be considered that contains high returns
Therefore the option d is correct
garcia company has 11,600 units of its product that were produced last year at a total cost of $174,000. the units were damaged in a rainstorm because the warehouse where they were stored developed a leak in the roof. garcia can sell the units as is for $2 each or it can repair the units at a total cost of $19,600 and then sell them for $5 each. calculate the incremental net income if the units are repaired
Answer:
If the company repairs the units, income will increase by $15,200.
Explanation:
Giving the following information:
Units= 11,600
Garcia can sell the units as is for $2 each or, it can repair the units at a total cost of $19,600 and then sell them for $5 each.
We will not take into account the original cost of production because they remain constant in both options.
Sell as-is:
Effect on income= 11,600*2= $23,200
Repair:
Effect on income= 11,600*5 - 19,600= $38,400
If the company repairs the units, income will increase by $15,200.
The following is a TRUE statement about inventory within a continuous review system: A. When holding costs increase, Economic Order Quantity decreases B. When service level decreases, Economic Order Quantity decreases C. When demand increases, Economic Order Quantity decreases D. When ordering or setup costs increase, Economic Order Quantity decreases E. When holding costs decrease, Economic Order Quantity decreases
Answer:
A. When holding costs increase, Economic Order Quantity decreases
Explanation:
The answer will be attain through the following illustration
Suppose, Demand = 1000 units, Ordering cost = $10, Holding cost = $0.50
Economic Order Quantity = √2 * 1000 Units * $10 / $0.50
Economic Order Quantity = √40000
Economic Order Quantity= 200 units
Assume, there is increase of holding cost to $1.50
Economic Order Quantity = √2 * 1000 Units * $10 / $1.50
Economic Order Quantity = √13333
Economic Order Quantity = 116 unit
Therefore, when holding costs increase, Economic Order Quantity decreases.
Inventory is termed as the stock of the goods and services available for the consumption of the consumers or the customers. It is referred as the management of the goods and services as per the demand of the customers in the market.
The true statement about inventory within a continuous review system is A. When holding costs increase, Economic Order Quantity decreases.
This can be illustrated with the specific example as below:
Let, Demand = 1000 units, Ordering cost = $10, Holding cost = $0.50
Economic Order Quantity = [tex]\sqrt{2} \times 1000 \:Units \times\frac{\$10 }{\$0.50}[/tex]
Economic Order Quantity = √40000
Economic Order Quantity= 200 units
Assume that there has been an increase in holding cost to $1.50
Economic Order Quantity = [tex]\sqrt[]{2} \times 1000 \:Units \times\frac{ \$10}{ \$1.50}[/tex]
Economic Order Quantity = √13333
Economic Order Quantity = 116 units
Therefore, when holding costs increase, Economic Order Quantity decreases.
To know more about the inventory within a continuous review system, refer to the link below:
https://brainly.com/question/16986815
During its first year of operations, Riverbed Corp had these transactions pertaining to its common stock. Jan. 10 Issued 26,300 shares for cash at $4 per share. July 1 Issued 56,500 shares for cash at $7 per share. (a) Journalize the transactions, assuming that the common stock has a par value of $4 per share. (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share.
Answer and Explanation:
The journal entries are shown below:
1.
On Jan.10
Cash (26,300 shares × $4) $105,200
To Common stock $105,200
(Being the issuance of the common stock for cash is recorded)
On July 1
Cash (56,500 shares × $7) $395,500
To Common stock (56,500 shares × $4) $226,000
To Paid-in Capital in Excess of Par Value $169,500
(Being the issuance of the common stock for cash is recorded)
2.
On Jan.10
Cash (26,300 shares × $4) $105,200
To Common stock (26,300 shares × $1) $26,300
To Paid-in Capital in Excess of Stated Value $78,900
(Being the issuance of the common stock for cash is recorded)
On July 1
Cash (56,500 shares × $7) $395,500
To Common stock (56,500 shares × $1) $56,500
To Paid-in Capital in Excess of Stated Value $339,000
(Being the issuance of the common stock for cash is recorded)
how do i give brainlyest
Answer:
when you ask a question and you get one answer you cant give someone brainliest until another person answers and after two people answer you chose which one is the best by clicking the little crown in the upper right corner of their answers
Explanation:
During March 2019, Alaska Corporation recorded $266,000 of costs related to factory overhead. Alaska's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $250,000 would be incurred, and 12,500 direct labor hours would be worked. During March, 12,500 hours were actually worked. Use this information to determine the amount of overhead over or under applied. Enter overapplied overhead as a negative number. (round
Answer:
Underapplied overhead= $16,000
Explanation:
Because the estimated and real direct labor hours are the same, the estimated overhead equals the allocated overhead.
Allocated overhead= $250,000
Actual overhead costs= $266,000
To calculate the over/under allocation, we need to use the following formula:
Under/over applied overhead= real overhead - allocated overhead
Under/over applied overhead= 266,000 - 250,000
Underapplied overhead= $16,000
Germany is capital abundant country and Japan is labor abundant country. If computers are produced mostly by capital and beer is produced mostly by labor, the H-O model predicts that Question 22 options: Japan will export computers in exchange for beer. Germany will export computers in exchange for beer. Germany is too small to be of economic interest to Japan. Computers and beer don't mix, so trade cannot increase either country's well-being.
Answer:
If computers are produced mostly by capital and beer is produced mostly by labor, the H-O model predicts that
Germany will export computers in exchange for beer.
Explanation:
The H-O model or Heckscher-Ohlin theory is an economic model about the comparative advantages of nations in international trade. The model tries to explain the equilibrium of trade existing between two countries that have varying specialties and natural resources. According to the H-O model, countries export more goods and services for which they have plenty resources than they do for goods and services for which they have scarce resources. For example, if a country has capital in abundance, it will export more of capital-intensive products while it will import labor-intensive products, because it has scarce labor resources.
Mentor Corp. has provided the following information for the current year: Units produced 3,500units Sale price$200per unit Direct materials$70per unit Direct labor$55per unit Variable manufacturing overhead$20per unit Fixed manufacturing overhead$350,000per year Variable selling and administrative costs$30per unit Fixed selling and administrative costs$150,000per year Calculate the unit product cost using variable costing.
Answer:
the unit product cost using variable costing is $145 per unit
Explanation:
The computation of the unit product cost using variable costing is as follows:
= Direct materials per unit + direct labor per unit + variable overhead per unit
= $70 + $55 + $20
= $145 per unit
Hence the unit product cost using variable costing is $145 per unit
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Proponents of rational expectations argued that the sacrifice ratio:______.a. could be high because people might adjust their expectations quickly if they found anti-inflation policy credible. b. could be low because people might adjust their expectations quickly if they found anti-inflation policy credible. c. could be low because it was rational for people not to immediately change their expectations. d. could be high because it was rational for people not to immediately change their expectations.
Answer:
b. could be low because people might adjust their expectations quickly if they found anti-inflation policy credible
Explanation:
In the given situation, it is mentioned that the rational expectations proponets said that the sacrified ratio would be lesser as the people wants to adjust their expectations in a fastest way in the case when they found that the anti-inflation policy is credible
Therefore as per the given situation, the option b is correct
Blossom Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $403500 ($604000), purchases during the current year at cost (retail) were $3608000 ($5393600), freight-in on these purchases totaled $169500, sales during the current year totaled $4866000, and net markups were $424000. What is the ending inventory value at cost
Answer:
$1,012,696
Explanation:
The computation is shown below:
At Cost method:
Merchandise available for sale is :
= Beginning inventory + Purchases + Fright-in
= $403,500 + $3,608,000 + $169,500
= $4,181,000
At Retail method:
Merchandise available for sale:
= Beginning inventory + Purchases + Markups
= $604,000 + $5,393,600 + $424,000
= $6,421,600
Now
Ending inventory at retail is
= Retail - Markdowns - Net sales
= $6,421,600 - $0 - $4,866,000
= $1,555,600
Now
Cost to retail ratio is
= $4,181,000÷ ($4,866,000 + $1,555,600)
= 65.10%
And finally the ending inventory at cost is
= $1,555,600 × 65.10%
= $1,012,696