Smith has an adjusted gross income (AGI) of $120,000 without taking into consideration $(40,000) of losses from rental real estate activities. Smith actively participates in the rental real estate activities. What amount of the rental losses may Smith deduct in determining taxable income?

Answers

Answer 1

Answer:

$15,000

Explanation:

For the purpose of loss relieve , allowance for losses made is considered in calculating the income tax for a period.

The maximum allowance for rental real estate activities on income tax returns for a year is $25,000 for modified annual gross income of not more than $100,000. However , for modified annual gross income within the range of $100,000 + 150,000, the allowance is limited to 50% of the difference between 150,000 and the Modified annual gross income , while a modified annual gross income of %150,000 and above attracts no special allowance.

Workings

For AGI as stated in the question , the allowance is $25,000

But if the income is a modified annual gross income ,Smith is only entitled to 150,000 - 100,000 * 50% = $15,000


Related Questions

Under what type of compensation plan is the agent responsible for the costs of advertising and promotion?

Answers

Answer:

100% plan

Explanation:

The 100% plan is when the agent doesn't have a base salary and the job pay depends completely on the comission for selling products. This compensation plan provides a big earning potential and the agent is an independent contractor and would have to cover costs of advertising and promotions. Because of that, the answer is that the type of compensation plan in which the agent is responsible for the costs of advertising and promotion is the 100% plan because the agent is not considered an employee and only receives the comission and has to cover the costs associated with advertising and promotion.

A portion of the Sarbanes-Oxley Act makes it illegal to fire or otherwise discriminate against a corporate officer for trying to report possible accounting irregularities to higher corporate officials or enforcement agencies. The ________ administers that portion of Sarbanes-Oxley.

Answers

Answer: C) U.S. Department of Labor

Explanation: A portion the Sarbanes-Oxley Act makes it illegal to fire or otherwise discriminate against a corporate officer for trying to report possible accounting irregularities to higher corporate officials or enforcement agencies. The ________ administers that portion of Sarbanes-Oxley.

A) Department of Homeland Security

B) Internal Revenue Service

C) U.S. Department of Labor

D) Securities and Exchange Commission

The Sarbanes-Oxley Act was created by legislators to help protect shareholders, employees and the general public from accounting errors and fraudulent financial practices which therefore makes it illegal to fire or otherwise discriminate against a corporate officer for trying to report possible accounting irregularities to higher corporate officials or enforcement agencies. This portion of the Act is administered by the U.S. Department of Labor.

Tools like Hootsuite Amplify can make running an employee advocacy program easier by allowing you to ______________.

Answers

Answer:

The answer is below

Explanation:

Tools like Hootsuite Amplify can make running an employee advocacy program easier by allowing you to perform all of the following:

1.  monitor metrics like most shared content or most active advocate

2.  deliver company news daily content that can be shared to advocates  social networks with a single tap

3.  give advocates daily updates of relevant new articles that they should share

4.  monitor program participation

Being less dependent on suppliers and making profits on both parts and the final product are advantages of:_______.

Answers

Answer: Vertical integration

Explanation:

vertical integration is simply a situation whereby an organization's or company's supply chain is owned by that organization or company.

Therefore, being less dependent on suppliers and making profits on both parts and the final product are advantages of vertical integration.

Ultimate Sportswear has $100,000 of 8% noncumulative,nonparticipating,preferred stock outstanding.Ultimate Sportswear also has $500,000 of common stock outstanding.In the company's first year of operation,no dividends were paid.During the second year,the company paid cash dividends of $30,000.This dividend should be distributed as follows:_________
A) $8,000 preferred;$22,000 common.
B) $16,000 preferred;$14,000 common.
C) $7,500 preferred;$22,500 common.
D) $15,000 preferred;$15,000 common.
E) $0 preferred;$30,000 common.

Answers

Answer:

$8,000 preferred; $22,000 common

Explanation:

Ultimate sportswear has $100,000 of 8% noncumulative stock, preferred outstanding stock

They also have $500,000 of common stock outstanding

The company made a cash dividend payment of $30,000

Therefore the preferred stock dividend and common stock dividend can be calculated as follows

Preferred stock dividend

=$100,000×8/100

= $100,000×0.08

= $8,000

Common stock dividend= $30,000-$8,000

= $22,000

Hence the preferred stock dividend is $8,000 and the common stock dividend is $22,000

The manager who establishes the organization's goals and determines how the departments should interact is the ______ level manager.

Answers

Answer:

in the level manager answer of thiis

___________ focuses on clarifying employees’ role and task requirements and providing followers with positive and negative rewards contingent on performance.

Answers

Answer:

transactional leadership

Explanation:

Transactional leadership is a style in which the leader tries to encourage its employees to perform well in their jobs by using rewards and punishments. According to this, the answer is that transactional leadership focuses on clarifying employees’ role and task requirements and providing followers with positive and negative rewards contingent on performance.

Unions, which have market power over the supply of labor, can threaten strikes as part of negotiating employment contracts on behalf of union members. What is the effect of unions having this power

Answers

Answer:

The effect of unions will be "Union wages are generally higher than nonunion wages".

Explanation:

A group of employees decided to join together through a particular variety of organizations to strengthen their employment conditions and also some help to promote the organization's mutual interests.Union wages or salaries shall be determined by the service agreement. This always appears to mean except for non-union working environments, union employees again for the entire length of everyone's agreement should not have to think too hard concerning compensation or welfare cuts.

So that the above is the appropriate answer.

To assess the risk and return involved in a purchase decision, which practical questions should a potential buyer ask

Answers

Answer:

The potential buyer will ask three questions such as:

What is the likely return? What can go wrong? Is the risk worth the return?

Explanation:

To determine the uncertainty including returning associated throughout a purchasing decision, the realistic decision that the prospective purchaser wants to respond to or inquire is something listed above.Because the purchaser wants to be sure concerning the possibilities acceptable to him regarding the probability of their return frequency including the uncertainties implicit throughout the returns.

Answer:

-What can go wrong?

-What is the likely return?

-Is the risk worth the return?

Explanation:

Got it right on e2020

Janice works for a pet store where everyone is committed to the happiness of the animals. Often employees, bosses and hourly workers alike, come into the store "off the clock" and spend time training the animals. Everyone loves the store, the animals, and their jobs. This attitude of her coworkers inspires Janice to do her best. Based on this information, we can say that Janice is experiencing the effects of ________. centralization high departmentalization organizational climate high work specialization high formalization

Answers

Answer: Organizational climate

Explanation:

It is often said that humans are a product of their surroundings which means that humans are more likely to act as the people they are constantly surrounded by do.

This is no different in the business world. The Organizational Climate refers to the way employees in a firm think that firm behaves or would like them to behave. In the case of Janice, the climate is most probably that of dedication and love for the job so Janice emulates this and puts it into her work ethic as well.

"A corporation has issued 20,000,000 shares of common stock at $2 par. The corporation has 5,000,000 shares of Treasury Stock on its books. The aggregate value of the outstanding shares is:"

Answers

Answer:Aggregate value of the outstanding shares = $30,000,000.

Explanation:

issued stock = 20,000,000 shares

Treasury Stock = 5,000,000 shares

Outstanding stock = Issued stock -Treasury stock

20,000,000 shares - 5,000,000 shares = 15,000,000 shares

Aggregate value of the outstanding shares=shares outstanding X  par value

= 15,000,000 shares  x $2=    $30,000,000.

Crystalize is a decorative glassware manufacturer. The company's production team takes 8 hours to produce 96 identical glass items. Which of the following is the labor productivity of Crystalize?A) 10 items per hour.
B) 12 items per hour.
C) 0.08 hours per item.
D) 0.09 hours per item.

Answers

The answer is most definitely c

The medium price of a product is determined by a. competitors' price ± fudge factor. b. the customer's willingness to pay. c. the product's popularity. d. cost + markup.

Answers

Answer:

The correct option is;

a. Competitors's price + Fudge Factor

Explanation:

Product pricing consideration involve considering prices that are either high, medium range or low priced which make up the high end, middle, and  low price pricing strategies

The high end pricing strategy involves finding out the amount the consumer is willing and has capacity to pay for and fixing the price at that range

The low price, pricing strategy is cost based with addition of an extra amount above the calculated cost

The medium pricing strategy is based on the competitive pricing, whereby the basis of pricing is the price of the competing product and the price of the product is the competitors price plus or minus a Fudge factor.

The competitors' price plus fudge factor determines the medium price of a product.

The medium price refers to the average price which is fixed and acceptable for exchange of goods/services produced by a firm.

The Fudge factor refers to level of amount by which a budget has been adjusted to make it seem acceptable. So, its plays a big role in determination of the average price for a product.

The price of similar goods/services offered by the competitors also determines the medium price because the firm will not want to be at disadvantage in the market because of higher price level

Therefore, the Option A is correct because the competitors' price plus fudge factor determines the medium price of a product.

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Because both cities are located quite far from each other, a company can charge different prices in each without fear of reselling. What prices would it charge in each city

Answers

Answer :$3

Explanation:

Considering the distance between each city the company will charge $3 for the top up on each product they sell. Distance contributes to price difference for industries, as their products are being sold in different location there is usually a need to sell with an additional cost by the company to meet up with needs and adjustment caused by the divers location.

Can someone help me please
The subject is math please help me

Answers

Answer:

1) 0.4

2) 0.375

3) 0.556

4) 25%

5) 58.33%

6) 150%

7) 0.3

8) 0.15

9) 1.2

10) 17/50

11) 10101/40000

12) 5 7777/10000

In February of each year, the Ritz Hotel holds a very popular wine tasting. Tickets must be ordered and paid for in advance, and are typically sold out by November of the preceding year. The realization principle indicates that the revenue from these ticket sales should be recognized in the period in which the:

Answers

Answer:

wine tasting is held

Explanation:

Based on the realization principle the revenue from these ticket sales should be recognized in the period in which the wine tasting is held. That is because this principle states that revenue can only be recognized once the goods/services associated with the revenue have been delivered or rendered, respectively in such a way that the revenue was earned by the providers. Therefore, since the tickets are for attending a wine tasting, the revenue cannot be recognized until after the wine tasting has been held.

The amount of money the policyholder pays per claim before the insurance company will pay on the claim is known as the:_______.

Answers

Answer:

deductible

Explanation:

Deductible is a kind of advance made to healthcare insurance services. It basically works as a quota to meet for healthcare insurance coverage.

It basically makes you eligible to claim the healthcare expense you incur from the healthcare insurance company.

In case the healthcare expense is really low for an individual, then he must consider and choose a healthcare service, where he can pay a good premium but a lower value of deductible is required.

It is inversely proportional to the premium, more the premium, lower the deductible, and vice-e-versa.

Answer:

deductible

Explanation:

A ledger account is divided into. *

2 points

2 parts

3 parts

4 parts

5 parts

14 parts

Which of the following transactions involves contra entry? *

2 points

Bank charges

Cash sales paid into the bank

Paid cash into the bank

Withdrew cash from the bank for private use

Putting it in one's pocket

The main book of account is the *

2 points

petty cash book

journal

purchases book

ledger

none of the options

The following keys are found in both the computer and typewriter except *

2 points

back space

delete key

home row keys

space bar

number lock key

Which of the following analyses cash expenses into various sub-heads? *

2 points

Double column cash book

Multiple cash book

Petty cash book

Single column cash book

Quadruple column cash book

“Continue with the preceding one” is represented with which of these symbol signs in manuscript? *

2 points

L. c

B. U. c

insert

Run on

go away

How many columns has the simplest form of a ledger? *

2 points

2

4

6

8

12

When typing a document in a hanging paragraph, the second and subsequent lines are type in how many space/s to the right of the first line? *

2 points

One

Two

Three

Five

Four

A memorandum should not contain *

2 points

date and reference

date and subject

salutation and address

name and date

subject, date and reference

The source document that is used to prepare the petty cash book is called *

2 points

invoice

debit note

receipt

petty cash voucher

cash booklet

Answers

Answer:

1) 2 parts

2) withdrew cash from Bank for personal reasons

3) ledger

4) delete key

5) petty cash book

6) run on

7) 4

8)three

9) date and subject

10) receipt

Organizational climate is defined as the set of shared, taken-for-granted, implicit assumptions that a group holds and that determines how it perceives, thinks about, and reacts to its various environments.

a. True
b. False

Answers

Answer:

False.

Explanation:

Organizational culture is defined as the set of shared, taken-for-granted, implicit assumptions that a group holds and that determines how it perceives, thinks about, and reacts to its various environments.

Generally, there are four (4) main functions of the organizational culture and these are;

1. To ensure social system stability.

2. To establish organizational identity.

3. To act as a sense making tool.

4. To encourage collective commitment in an organization.

A company that controls finances in the home country and decentralizes​ production, sales, and marketing operations to other countries is using a​ ________ strategy. .

Answers

Answer:

D) multinational

Explanation:

A multinational company is that company in which the business carry out their operations in various countries. Here the parent company is based on home country while the other units of the company are located in other countries

The company that controlled their finance area in the home country and the operational activities that are related to the production, sales, marketing are decentralized

So here the company is using the multinational strategy

The point that each glass of lemonade consumed on a hot day brings lower and lower levels of satisfaction is known as the principle of

Answers

Answer:

decreasing marginal benefit.

Explanation:

A consumer measures the amount of satisfaction gained by consuming a product in making a buying decision.

When a person comes a product his satisfaction increases up to a point, and from that point as consumption increases the satisfaction derived reduces.

Consumption after this point is known as decreasing marginal benefit to the customer.

This affects the customer's willingness to buy more of this product. Patronage of lemonade will reduce as the customer looks for another product to satisfy his needs.

In which country can prospective employers ask job applicants to report personal characteristics such as age and marital status

Answers

The question is incomplete:

In which country can prospective employers ask job applicants to report personal characteristics such as age and marital status:

a. United States

b. India

c. United Kingdom

d. All of these

Answer:

b. India

Explanation:

-In the United States, employers can't ask candidates questions about their origin, age, marital status or other personal information because this would be a violation of the Title VII of the Civil  Rights Act of 1964.

-In India, employers can ask candidates about personal information like family, age and marital status.

-In the United Kingdom, employers are not allowed to ask candidates about protected characteristics like age, marital status, disability and sex as this would be considered discrimination.

According to this, the answer is that the country in which prospective employers can ask job applicants to report personal characteristics such as age and marital status is India.

Which of the following statements is true? The Medicaid program cover everyone below the poverty line Government health insurance programs are limited to low-income Americans Almost half of medical care costs in the U.S. is paid by government The Medicare program runs a surplus

Answers

Answer:

C). Almost half of medical care costs in the U.S. is paid by the government.

Explanation:

The second statement that asserts a true claim regarding the funding of medical care in the United States. The federal government in total funds 65% of the funds spent on Medicaid and around 80+% for CHIP(Children's healthcare program). Nearly 18% of GDP is spent by the federal government on funding the expenditures incurred on health care as it is highly concerned about the health of its citizens as a healthy state can only be the leading and the most powerful one. Last year, around 1.2 trillion dollars were spent on the healthcare budget and the goals are to reach higher. Thus, this statement asserts a true claim and hence, option C is the correct answer.

United States economy is considered by the Institute for Management Development to be the most competitive economy because A. of a high saving rate. B. of selected restrictions on imports from Japan and Europe. C. Americans are willing to work harder than anyone else is. D. of widespread entrepreneurship.

Answers

Answer:

D. of widespread entrepreneurship.

Explanation:

Competitive economies are not characterized by imposing restrictions on foreign trade (option B) or necessarily saving more than anyone else (option A). Even the amount of hard working citizens is not a real measure, in some Asian countries people work for 16 hours per day and earn just a few a cents (option C). What makes an economy competitive is how many new innovations and how many new businesses appear every year. They don't even have to be made by Americans, but people living in America. E.g. Apple, Google, Tesla and many others were built by immigrants that found the opportunity to succeed in America.

"FINRA's IPO purchase restrictions that prohibit industry personnel from buying new issues in the primary market apply to:"

Answers

Answer:

Common stock offerings.

Explanation:

FINRA is an acronym for Financial Industry Regulatory Authority. It is a non-profit agency in the United States of America, that is saddled with the responsibility of handling the licensing and regulation of broker-dealers in securities.

FINRA's initial public offering (IPO) purchase restrictions that prohibit industry personnel from buying new issues in the primary market apply to common stock offerings. The rule made by the financial industry regulatory authority (FINRA) which restrict a registered firm and its employees from buying new issues in the primary market made available by underwriters, only apply to common stock offerings (equity stocks) because the pricing of common stocks usually has a big expectation feature that is typically difficult to measure.

Additionally, the FINRA's purchase restrictions do not apply to bond or preferred stock offerings.

Red Barchetta Co. paid $27,860 in dividends and $28,815 in interest over the past year. During the year, net working capital increased from $13,698 to $18,419. The company purchased $42,880 in fixed assets and had a depreciation expense of $17,165. During the year, the company issued $25,200 in new equity and paid off $21,280 in long-term debt. What was the company's cash flow from assets?

Answers

Answer:

the company's cash flow from assets is - $42,880.

Explanation:

Cash flow from assets is also known as cash flow from investment activities.

Prepare a section of cash flow from investing activities to determine the cash flow from assets.

The only cash flow from investing activity is purchase price (cash outflow) of the assets of $42,880.

At Panther Lighting Fixtures,employees were asked how the quality of the company's customer service could best be measured,and management then implemented a survey system based on the feedback.The company has overcome which of the following barriers to success of control systems?
A) overemphasis on one instead of multiple approaches
B) overemphasis on paperwork
C) overemphasis on means instead of ends
D) too little employee participation
E) too much control

Answers

Answer:

D) too little employee participation

Explanation:

Since in the question, it is mentioned that the for best customer service what actions to be taken by the employees so that the quality could become better

There  is a survey done i.e. depend upon the feedback

Now to overcome this, the option D is appropriate as it contains that there is too less employee participation that became the barriers for success the control system and if the employee participated is there so automatically the company could give the better customer service as compared to before

A(n) ______ is maintained for each financial statement item, whereas a(n) ______ contains all of the accounts of the company.

Answers

Answer:

An account is maintained for each financial statement item, whereas a(n) general ledger contains all of the accounts of the company.

Explanation:

Financial statements refers to a statement that that provides formal records of all financial activities and standing of a company or any entity in a structured and easily understandable manner.

For each item of financial statement, an account is kept with the aim of giving a an accurate record of all business activities that are germane to that specific financial statement item.

The purpose of a general ledger is to show individual transactions and resulting account balance of each account of a company as a single collection.

Therefore, an account is maintained for each financial statement item, whereas a(n) general ledger contains all of the accounts of the company.

Bob leased an apartment for three years from the Steiners. He was never late on his rent in those three years, kept the apartment immaculate, and never caused a moment of trouble. He has recently purchased his first home and moved out of the apartment. As expected, Bob gave the Steiners sixty days’ notice he would be moving and left the apartment in perfect condition. It has been 45 days since he moved out and he's been watching for his security deposit refund to purchase a new sofa. When should he expect his security deposit refunded?

Answers

Answer:

The remaining part of the question is:

When should he expect his security deposit refunded?

1. If there had been no damage or cleaning required, which seemed highly unlikely in Bob’s case, the landlord should have refunded his security deposit within 21 days of Bob’s vacating the property.

2. If there had been no damage or cleaning required, which seemed highly unlikely in Bob’s case, the landlord should have refunded his security deposit within 30 days of Bob’s vacating the property.

3. If there had been no damage or cleaning required, which seemed highly unlikely in Bob’s case, the landlord should have refunded his security deposit within 14 days of Bob’s vacating the property.

4. None of the Above.

Correct Answer:

1. If there had been no damage or cleaning required, which seemed highly unlikely in Bob’s case, the landlord should have refunded his security deposit within 21 days of Bob’s vacating the property.

Explanation:

According to the tenancy agreement which is binding between landlords and tenants, the most logical time fora tenant to be refunded his deposit would be within 21 days of exiting the apartment. Especially, if there has been no damage on the said apartment whatsoever.

Which one of the following choices best describes when a culture should be changed as rapidly as it can be managed? A. Never, because the actions and behaviors needed to execute the new strategy successfully are well entrenched, and thus are not changeable B. Only rarely, because it is natural for company personnel to cling to existing practices and to be wary of new approaches C. When a company decides on any innovations to its products or services D. When a strong culture is unhealthy or otherwise out of sync with the actions and behaviors needed to execute the strategy successfully E. When the case for cultural reform is not credible, symbolic, nor substantive

Answers

D. When a strong culture is unhealthy or otherwise out of sync with the actions and behaviors needed to execute the strategy successfully
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