Ask question

Ask question

All categories

2 years ago

7

a sole proprietor with a tentative loss may deduct which of the following for qualified business use of home expenses?

1 answer:

Elza [17]2 years ago

3 0

Complete Question:

A sole proprietor with a tentative loss may deduct which of the following for qualified business use of home expenses?

a. depreciation

b. mortgage interest

c. rent

d. Utilities

Answer:

b. mortgage interest

Explanation:

The sole proprietor with a tentative loss may deduct expenses for mortgage interest, mortgage insurance premiums, and real estate taxes under the normal rules. The sole proprietor is not allowed to deduct other expenses that are normally tax-exempt expenses, including depreciation, rent, and utilities. The amount to be deducted for mortgage interest should not exceed the percentage for business use.

You might be interested in

What are the criteria Jason should use in evaluating investment alternatives? 2.What questions does this case raise that you nee

ANTONII [103]

No one is gonna anwser this gl

7 0

1 year ago

Sunset Travel Agency specializes in flights between Toronto and Jamaica. It books passengers on OshawaOshawa Air. Sunset's fixed

coldgirl [10]

Answer:

Explanation:

Break even point=fixed cost/ contribution margin per unit

Units to be sold to get target operating income=(fixed costs+ target operating income)/contribution margin per unit

1. Revenue=10%×1600=$160 per ticket

Contribution per ticket=$100-$42=$58 per ticket.

Fixed cost=$29,500

Break even units:$29,500/$58=508.6 tickets

Units to be sold to get target operating income:(29500+$12000)/$58=715.5 tickets

2. Revenue=10%×1600=$160 per ticket

Contribution per ticket=$100-$35=$65 per ticket.

Fixed cost=$29,500

Break even units:$29,500/$65=453.8 tickets

Units to be sold to get target operatig income:(29500+$12000)/$65=638 tickets

3.

Revenue=$50 per ticket

Contribution per ticket=$50-$35=$15 per ticket.

Fixed cost=$29,500

Break even units:$29,500/$15=1966 tickets

Units to be sold to get target operating income:(29,500+$12,000)/$15=2766 tickets

4.

Revenue:$55(fixed comission fee)+$5(delivery fee)=$60 per ticket

Contribution per ticket=$60-$35=$25 per ticket.

Fixed cost=$29,500

Break even units:$29,500/$25=1180 tickets

Units to be sold to get target operating income:(29,500+$12,000)/$25=1,660 tickets

3 0

1 year ago

Turnbull Corp. is in the process of constructing a new plant at a cost of $30 million. It expects the project to generate cash f

Sergio039 [100]

Answer:

$14 mil.

Explanation:

Net present value is the present value of after tax cash flows from an investment less the amount invested.

NPV can be calculated using a financial calculator:

Cash flow in year 0 = $-30 million

Cash flow in year 1 = $13,000,000

Cash flow in year 2 = $23,000,000

Cash flow in year 3 = 29,000,000

I = 20%

NPV = $13,587,630

To find the NPV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

I hope my answer helps you

3 0

2 years ago

Houston repeatedly promised his daughter, Allyson, that he would pay one-half of the costs for Allyson to attend a private, hist

notsponge [240]

It is 1 3/4 because I know it

8 0

2 years ago

Joe and Debra are deeply interested in the well-being of the cocoa farmers they buy from. Imagine that they were thinking about

3241004551 [841]

Answer:

The correct answers are letters "B" and "D".

Explanation:

The global service system of Theo Chocolate provides a great opportunity for some of its staff to get a <em>deeper insight into how the company's different markets work</em>. Operations in different regions include coping with different cultures which also include talking about different people and consumer patterns. Thus, all this information can be collected by the employees who are sent for one year to work in those regions.

Furthermore, chances of <em>diversification chances may appear in spotting the opportunities</em> of Theo Chocolate in foreign markets. The organization must ensure that the members sent for the exchange experience are well trained to get the most out of the global service program.

7 0

1 year ago

Read 2 more answers