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Mariana [72]
2 years ago
12

Piper owns a vacation cabin in the Tennessee mountains. Without consider-ing the cabin, she has gross income of $65,000. During

the year, she rents the cabin for two weeks for $2,500 and uses it herself for four weeks. The total expenses for the year are $10,000 mortgage interest; $1,500 property tax; $2,000 utilities, insurance, and maintenance; and $3,200 depreciation.
a. What effect does the rental of the vacation cabin have on Piper’s AGI?
b. What expenses can Piper deduct, and how are they classified (i.e., for or from AGI)?
Business
1 answer:
zloy xaker [14]2 years ago
7 0

Answer and Explanation:

a)  rent income from sarah's vacation house will not affect her AGI, because according to rules if vacation house is used fewer than 15 days, in that case it is treated as a personal house and its expenses and income have not effect on the AGI. only the mortgage interest and property yax will be deducted from AGI.

b) only the mortgage interest and property yax will be deducted from AGI. other expenses are non-deductible from AGI because these are treated as personal expenses.

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Your company works with freelance writers, and Jake, your colleague, is responsible for processing the freelancers' invoices. La
trapecia [35]

Answer:

The sentence uses an active voice

In this case active voice is not appropriate

Explanation:

Mode of expression can be passive or active.

Passive voice is one that emphasises the subject or person that is receiving an action.

An active voice describes a person that is performing an action.

In this scenario Jake accidentally input $560 instead of $650 on one of the invoices. The writer hasn't contacted you about the error yet.

So the email sent should just focus on what has happened to the writer and also to proffer a solution to the problem.

Since the writer did not complain or request for information on who made the mistake, stating that it was Jake that made the error is inappropriate.

A better statement would have been - An error was made on your invoice where the figure was inputted as $560 instead of $650. This however has been rectified and the invoice forwarded to you.

4 0
2 years ago
The financial statements for Dividendosaurus, Inc., for the current year are as follows: Balance Sheet Statement of Income and R
MakcuM [25]

Answer:

Option D,50% is the correct answer.

Explanation:

Dividend payout ratio is an important financial measure which measures the ratio of company's dividends payment to net income of the company.

This implies the portion of income earned in a year given to shareholders as dividends while the remains is kept in the business as source of further growth.

Dividend payout ratio=dividends/net income=$100/$200=50%

4 0
2 years ago
Bill is a yacht broker in the southeastern United States. For years he has had difficulty selling large yachts locally because t
Artyom0805 [142]

Answer:

.D.complementary products

Explanation:

A complementary good is a product whose usage is dependent on the availability of another. Complementary goods are, therefore, goods that are used together.  For example, A and B will be complimentary goods if the use of A will require the use of B.

Yachts and docks are complementary products because a yacht will require a dock as the base of its operation.  Without a dock, yacht operations will be almost impossible. Bill is not making good sales on big yachts because potential customers cannot find sufficient docking space. Other examples of complementary goods are car and petrol,  printers and ink cartridges, guns and bullets, and DVD players and DVD disks.

5 0
2 years ago
Dan Demaar and Rob Runten are working on a class assignment on economic growth. Dan collects the GDP growth data for the country
ozzi

Answer:

A

Explanation:

If the growth rate of population in Fanez has consistently exceeded the real GDP growth, then the GDP per capita should be less than before. The GDP per capita is the division between the GDP (numerator) and the total population (denominator). If the denominator increases faster than the numerator then the GDP per capita decreases. Dan should measure the change in living standards in Fanez by looking the GDP per capita, because this measures how prosperous is the country by individual.

6 0
2 years ago
Consider a hypothetical closed economy in which households spend $0.70 of each additional dollar they earn and save the remainin
Gekata [30.6K]

Answer:

$0.70 and 3.3

Explanation:

Data provided in the question

Household spending for each additional dollar = $0.70

And, the remaining amount = $0.30

So in the given case,

The marginal propensity to consume (MPC) = household spending for each additional dollar i.e $0.70

And, the Spending multiplier is

= 1 ÷ 1 - MPC

= 1 ÷ 1 - $0.70

= 1 ÷ $0.30

= 3.3

5 0
2 years ago
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