dillon rented his personal residence at lake tahoe for 14 days while he was vacationing in ireland. he resided in the home for the remainder of the year. rental income from the property was $6,500. expenses associated with use of the home for the entire year were as follows: real property taxes $ 3,100 mortgage interest 12,000 repairs 1,500 insurance 1,500 utilities 3,900 depreciation 13,000 required: what effect does the rental have on dillon's agi? what effect does the rental have on dillon's itemized deductions (assuming he itemized deductions before considering deductions associated with the home)?
Answers
Dillon's rental income from his personal residence at Lake Tahoe has a positive effect on his Adjusted Gross Income (AGI). This income is taxable, so it will increase his AGI by the amount of $6,500.
The expenses associated with use of the home for the entire year, such as real property taxes, mortgage interest, repairs, insurance, utilities and depreciation, have a negative effect on his AGI. The total amount of these expenses is $34,000 and is deductible from his taxable income. This will result in a decrease of his AGI by $34,000.
In regards to his itemized deductions, the expenses associated with the home will have a positive effect. This is because they are deductible and will reduce the amount of taxable income. The total amount of these expenses is $34,000 and is deductible from his taxable income. This will result in an increase in his itemized deductions by $34,000. In conclusion, Dillon's rental income from his personal residence at Lake Tahoe has a positive effect on his Adjusted Gross Income (AGI). However, the expenses associated with the home have a negative effect on his AGI, but a positive effect on his itemized deductions.
for more such questions on Adjusted Gross Income.
https://brainly.com/question/29343274
#SPJ11
Related Questions
Your job is to cold call people and sell
them life insurance. You do some
research and find out that the life
insurance policy could be purchased
cheaper online. Your boss forbids you
to tell the customer this and expects
you to sign up at least 5 new
customers per day.
What will you do?
Answers
I believe I would be cheating customers if I don't do right by them. I would prefer to look for a new job than do something that is ethically wrong and against my morals.
As an employee, I would first try to figure out a way to do right by the customers and reduce the insurance fee. I would try to explain to my boss how we could benefit and increase our customer base if we reduce the fees.
If I fail at getting the price change. I would try looking for a new job that fits well with my morals. Till the time I get a new job, I would try working the same job and explaining to the boss.
What are cold calls: https://brainly.com/question/28052383
Cold calls to business for a new job: https://brainly.com/question/3700565
#SPJ1
Bob and his sister Betty are co-owners of their late parents' business. Bob actively manages the business; Betty supplies capital from her inheritance but does not work in the business. They squabble over the distribution of profits from the business. Bob likely sees his sister as a _____, whereas Betty views her brother as a(n) _____. Group of answer choices predator; parasite co-owner; employee parasite; predator stockholder; manager
Answers
Answer: Parasite, predator
Explanation:
Managing businesses isn't an easy task despite it might be going well. On managing business, certain agreement has to be reached such as who finances , manages, and how interests are shared, when all these are well spelled out there would be no room for the other party to feel cheated while the other feels same way too. Betty and her brother feel cheated about each other's input regarding their business because they probably didn't spell out how the business operations would be run, they'll need to sort this out so they don't see each other so again.
explain how operations strategy can help a business sustain its competitive advantage.
please answer this question in an essay.
Answers
Answer:
Operations can help a business sustain their competitive advantage by reducing its cost without considering the way they are reduced.
Explanation:
First of all, to create a business competitive advantage the business has to be more profitable than its competition. In other words, they need to make money in a more effective way than its competitors. This means that they have more margin of profit, instead of selling more. Now, in operations, this works the same. However, the reasons might come from different sources. Whether by having technology more advanced than its competitors. By having more productive processes, or by using materials bought at cheaper prices.
If I buy 40 shares of Visa stock at a price of $149.58 per share and
the price goes up by $0.47 in one day, what is the percent gain?
Answers
Answer:
use cash
Explanation:
its less confusing.
What are the main arguments for and against students taking a gap year in their studies?
Answers
Experiences gained during a gap year can help people better understand who they are and what they want to accomplish. It may allow students to take a vacation from the demands of their academic work.
What benefits and drawbacks come with taking a year off before starting university?Making the most of your time away from life's reality is possible when you take a gap year. Gaining the opportunity to travel so extensively for so long will be much more difficult in the future, particularly if you spend it traveling. You'll fall a year behind. According to one survey, recovering from academic burnout and discovering oneself were the two main justifications students provided for taking a year out before college. You can discover more about yourself on your own terms during a gap year, which also provides you time to rest and concentrate.
To know more about Gap year visit:
brainly.com/question/28177346
#SPJ4
Please help I will mark you as brainliest!!
The marketing manager at a company producing laundry products sees great
long-term profits from selling to many consumers worldwide who care about
low prices. Which of the following tactics would best support this manager's
low-price strategy?
A. Develop products with more features than the competition offers
B. Design simple, inexpensive packaging
C. Offer a customer help line for advice in using the products
D. Work with retailers that specialize in speedy checkout and fast
delivery
Answers
The tactics that would best support this manager's low-price strategy is Designing simple, inexpensive packaging. Thus option B is correct.
What is the manager?A manager refers to a person who is responsible head of any project and helps in arranging the resources, checking the progress, and timely completion of it in order to achieve the vision and goal of the organization.
In order to cater to a large number of potential consumers the low pricing strategy is used where the manager focuses on simple and inexpensive designs which help in the affordability of consumers.
Therefore, option B is appropriate.
Learn more about managers, here:
brainly.com/question/29023210
#SPJ1
As consumers respond to climate change and environmental concerns, both General Motors and Tesla are offering fully electric vehicles. This issue represents which of the macroenvironmental variables
Answers
Social macroenvironmental variables can be felt and seen in the way of response by different consumers to the climate change.
What are macroenvironmental variables?Macro-environment is a term that describes those factors that can alter the decision of a consumer towards a product.
These factor could be ;
Economic factorsSocial factorTechnological factor.Therefore all these mentioned factors affect the way product is been decided on by different types of consumers.
Learn more about macroenvironmental variables at;
https://brainly.com/question/14701179
#SPJ4
Explain one reason why a business may use social media to promote
Answers
Answer:
Social media offers many benefits to business owners, as it allows them to reach out to their customers and to gain the attention of more people/potential customers
Explanation:
An auditor's affinity for and identification with the audit profession is referred to as
A. Commitment to the firm
B. Professional identity
C. Commitment to the organization
D. Commitment to colleagues
Answers
An auditor's affinity for and identification with the audit profession is referred to as professional identity. This term captures the sense of belonging and attachment that an individual feels towards their profession.
The correct answer is B. Professional identity. An auditor's professional identity refers to their sense of belonging and connection to their chosen profession. This sense of identification is important as it impacts their job satisfaction, motivation, and commitment to the organization they work for. Professional identity can be developed through various means such as education, training, and experience. An auditor who is proud of their profession and sees themselves as a valuable contributor to the field is likely to be more committed and motivated in their work. It is important for auditors to maintain a strong professional identity to ensure that they remain ethical and objective in their work. This can help to uphold the integrity of the audit profession and ensure that auditors continue to provide valuable services to organizations. In summary, an auditor's professional identity is a crucial aspect of their profession that impacts their commitment to the organization and colleagues they work with.B. Professional identity In this case, it represents the auditor's dedication to maintaining the high standards and ethical principles associated with the audit profession.
Learn more about sense here
https://brainly.com/question/27727772
#SPJ11
Which are examples of Information Support and Services workplaces? Check all that apply. An outdoor area an office a vehicle a server room.
Answers
Answer:
An office and a server room
Explanation:
Answer:
An office
a server room
(2,4)
Explanation:
Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below.
Account Title Debits Credits
Cash35,500
Accounts receivable43,000
Supplies3,000 Inventory63,000
Notes receivable23,000
Interest receivable0
Prepaid rent2,500
Prepaid insurance9,000
Office equipment92,000
Accumulated depreciation 34,500
Accounts payable 34,000
Salaries payable 0
Notes payable 53,000
Interest payable 0
Deferred sales revenue 3,500
Common stock 81,000
Retained earnings 36,000
Dividends7,000
Sales revenue 161,000
Interest revenue 0
Cost of goods sold85,000
Salaries expense20,400
Rent expense12,500
Depreciation expense0
Interest expense0
Supplies expense2,600
Insurance expense0
Advertising expense4,500
Totals 358,600 358,600 Information necessary to prepare the year-end adjusting entries appears below.1. Depreciation on the office equipment for the year is $10,300.2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $900.3. On October 1, 2021, Pastina borrowed $50,600 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.4. On March 1, 2021, the company lent a supplier $20,600 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.5. On April 1, 2021, the company paid an insurance company $6,600 for a one-year fire insurance policy. The entire $6,600 was debited to prepaid insurance.6. $560 of supplies remained on hand at December 31, 2021.7. A customer paid Pastina $2,300 in December for 900 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue.8. On December 1, 2021, $1,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $600 per month. The entire amount was debited to prepaid rent.Prepare closing entries.
Answers
The necessary December 31, 2021, adjusting journal entries are: Debit Depreciation expenses $10,300, Credit Accumulated depreciation $10,300.
Journal entriesPastina Company Adjusting entries
Debit Depreciation expenses $10,300
Credit Accumulated depreciation $10,300
Debit Wages expense $900
Credit Wages payable $900
Debit Interest expense $1,518
($50,600 × 12% × 3/12)
Credit Interest payable $1,518
Debit Interest receivable $1,373
($20,600 × 8% × 10/12)
Credit Interest revenue
Debit Prepaid insurance $4,125
($6,600 × 15/24)
Credit Insurance expense $4,125
Debit Supplies expense $340
($900 − $560)
Credit Supplies $340
Debit Sales revenue $2,300
Credit Unearned revenue $2,300
Debit Rent expense $600
Credit Prepaid rent $600
Therefore the necessary December 31, 2021, adjusting journal entries are: Debit Depreciation expenses $10,300, Credit Accumulated depreciation $10,300.
Learn more about journal entries here:https://brainly.com/question/14279491
#SPJ1
The INS, or Immigration and Naturalization Service, was reorganized in 2003 and became incorporated into _____.
the Department of Homeland Security
the U.S. Marshals Service
the National Security Council
the Justice Department
Answers
Answer: the department of homeland security
Explanation:
from 2009 to 2020, the exchange rate between the euro and the us dollar varied over time. during that time, the number of euros you would've received for $100 ranged from _____.
Answers
From 2009 to 2020, the exchange rate between the euro and the US dollar varied over time. During that time, the number of euros you would've received for $100 ranged from 80 to 120 euros.
The exchange rate between two currencies represents the price at that one currency can be exchanged for another.
This rate fluctuates over time based on a variety of factors, such as economic conditions, political events, and supply and demand.
In the case of the euro and US dollar, the exchange rate can be expressed as the number of euros you would receive for $1.
So, to calculate the number of euros you would receive for $100, you simply need to multiply the exchange rate by 100.
The range of the euro-to-dollar exchange rate from 2009 to 2020 was 80 to 120 euros, which means that at various points during this time period, you could have received anywhere from 80 to 120 euros for $100.
Learn more about exchange rates here:
https://brainly.com/question/2202418
#SPJ11
what type of business model will the pharmacy be?
Answers
_____ is a beautiful thing, but also might bury you.
A Tracking
B Budgeting
C Compound Interest
D Simple Interest
Answers
Answer:
C Compound Interest
Explanation:
Compound interest is a type of interest that is calculated on the initial principal and on the accumulated interest of previous periods. This means that the longer an investment is held, the more interest it will earn, resulting in exponential growth over time. While compound interest can be a powerful tool for building wealth, it can also be dangerous if not managed properly, as it can quickly grow to large amounts that are difficult to repay.
Budgeting, tracking, and simple interest are all related to compound interest, but they do not have the same potential for exponential growth.
Answer:
I will go for compound interest.
Explanation:
By taking money or something on interest we might solve our problem for sometime but when we need to pay interest back in case case of compounding, it may leave you broke.
One advantage of using a pay grade system in planning employee compensation is that it ______.
Answers
One advantage of using a pay grade system in planning employee compensation is that it reduces the administrative burden of setting separate pay rates for hundreds of jobs.
What is the significance of pay grade system?A pay grade system can be referred to or considered as the process of creation of grades for the employees based on their average pay for the specified period. The pay grade system helps an employer in setting standardization of similar pays for jobs available.
Therefore, the significance regarding the pay grade has been aforementioned.
Learn more about pay grade system here: here:https://brainly.com/question/989444
#SPJ1
Job ______ involves systematically rating the worth of jobs within an organization by measuring the skills, effort, responsibility and working conditions of the jobs.
Answers
Answer:
evaluation
Explanation:
Which of the following is an example of human resources planning?
A. An employee complains to his manager that he is being asked to
work too many hours.
B. An HR manager talks with department managers to determine
which workers are needed,
C. Two workers disagree with each other about the sufficiency of the
benefits the HR department offers,
D. A CEO talks with the HR manager about the value of the company
and decides that it needs to grow.
SUBMIT
Answers
Answer:
B. An HR manager talks with department managers to determine which workers are needed,
Which educational institution trains students for a specific job in a skilled trade career?
a
College
b
Internship
c
Technical school
d
University
Answers
Answer:
b
Explanation:
The educational institution trains students for a specific job in a skilled trade career?
The correct answer is Option B. Internship
What is an internship?An internship is a professional learning experience that provides meaningful and hands-on work related to a student's interests in a field of study or career. Internships give students the opportunity to explore and develop professionally and learn new skills.
An internship is a short-term work experience provided by people (usually, but not always, students) for a company or other organization to enter a particular industry or discipline. It's both a work and a learning experience.
Learn more about a skilled trade career here
https://brainly.com/question/6947486
#SPJ2
When positive externalities exist, demand curves fail to reflect the willingness to pay of the people who receive the positive externality, resulting in products being
Answers
When positive externalities exist, demand curves fail to reflect the willingness to pay of the people who receive the positive externality, resulting in products being **underproduced**.
Positive externalities occur when the consumption or production of a good or service generates benefits to individuals or society beyond the immediate buyers and sellers.
These external benefits are not captured by the market and are not reflected in the demand curve, which only represents the private benefit of consumers.
Since the demand curve does not account for the positive externality, the quantity of the good or service produced and consumed in the market may be lower than the socially optimal level. This is because the market fails to account for the full value or benefit that the good or service provides to society.
To address this underproduction, government intervention or policy measures such as subsidies, grants, or regulations may be implemented to incentivize or encourage the production and consumption of goods with positive externalities. These measures aim to align the private market outcome with the socially optimal outcome, taking into account the full societal benefits of the positive externality.
Learn more about demand curve here:
https://brainly.com/question/13131242
#SPJ11
8) Which example explains how professional training may increase earnings?
A) An employee attends professional training, asks for a one-day transportation reimbursement, and it is added to his pay.
B) An employee neglects to complete an essay for college credit that is offered by a professional training.
C) An employee receives training that increases her capital, allowing her to apply for a higher position, which results in a raise.
D) An employee is recognized for her efforts after a professional training and given a completion certificate.
Answers
C) An employee receives training that increases her capital, allowing her to apply for a higher position, which results in a raise.
Answer: a
Explanation: An employee attends professional training, asks for a one-day transportation reimbursement, and it is added to his pay.
Have you seen Zack Snyder's Justice League on HBO Max?
Answers
Answer:
YES!
Explanation:
IT WAS AMAZING I WANT MORE DC FILMS LIKE THAG I DON'T CARE IF ITS ON HBO MAX I WANT MORE
21. Which of the following goods has elastic demand?
a. Tobacco
b. Table salt
c. diet coke
d. toothpaste
Answers
Answer:
tobacco
Explanation:
I am stuck on this question can someone help?
Answers
Answer:
college-sociologist, hairstylist, biomedical engineer
vocational certification- tour guide, childcare director, museum personnel
Explanation:
What are some reasons that a bank statement might not match a cash balance of a business's records? Choose all answers that are correct.
Question 1 options:
posted payments on credit cards
bank errors
outstanding deposits
service charges
recorded checks
outstanding checks
Answers
Answer:
outstanding deposits, outstanding checks, posted payments on credit cards
Explanation:
Bank errors, Outstanding Deposits, Service Charges, and Outstanding checks are some reasons that a bank statement might not match the cash balance of a business's records. The correct options are B, C, D, and F.
What information does a bank statement provide?Name, address, account number, and bank branch information are all listed on bank statements for account holders. Additionally, a summary table that displays the statement's time frame, opening and closing bank balances, deposits made to the account, refunds, and cash withdrawals is included. In addition, fines levied by your bank as well as declined or canceled payments will appear on your statements.
Differences between the two records could be the result of Deposits in transit: The firm may have received cash or cheques, but the bank may not have yet recorded them. Outstanding checks are ones that have been issued but have not yet been processed. Bank service fees: Banks frequently deduct service fees.
Thus, the ideal options are B, C, D, and F.
Learn more about Bank Statement here:
https://brainly.com/question/22786262
#SPJ2
The SmartArt icon will allow you to include which of the following on a slide?
Answers
I think the answer is Graphs, I hope this helps
Do the advantages of substituting the bioplastic pla for conventional plastics outweigh the disadvantages
Answers
Answer:
The use of Bioplastic PLA is more beneficial than the conventional plastics
Explanation:
The bioplastic PLA is more beneficial because of its compostability, less cost, less Carbon dioxide emission when they are manufactured, plant raw materials are used which absorbs Carbon dioxide, renewable energy is utilized, etc. All these benefit which conventional plastics doesn't have, will leave better impact on the environment. Furthermore, the conventional plastic was very hazardous to marine life which PLA is not. So yes, we must use PLA responsibly. Because if we are recycling more and more, then their are fewer plastic in the ocean and less are the chances that marine life gets hurt.
Assume that aggregate demand in the economy is excessive, causing an inflationary gap. Which of the following would be most in accord with appropriate government fiscal policy ?
a)passage of legislation providing for the construction of 8,000 new post office buildings b) an increase in soil conservation subsidies to farmers
c) an increase in federal income tax rates
d) an increase in the size of income tax exemptions for each dependent
Answers
In the case of an inflationary gap resulting from excessive aggregate demand, the most appropriate government fiscal policy response would be to c) increase federal income tax rates.
To control inflation and reduce aggregate demand, the government can implement contractionary fiscal policies, such as increasing taxes. By raising federal income tax rates, the government can effectively reduce disposable income and decrease consumer spending, which helps to curtail overall demand in the economy. This reduction in spending can help alleviate the inflationary pressures caused by excessive aggregate demand. Passage of legislation for the construction of post office buildings (a) and an increase in soil conservation subsidies to farmers (b) are government spending measures that may further stimulate aggregate demand, exacerbating the inflationary gap. On the other hand, increasing the size of income tax exemptions for each dependent (d) would also have an expansionary effect, as it would boost disposable income and potentially lead to increased spending.
To learn more about government fiscal policy click here: brainly.com/question/2317202
#SPJ11
The scrum master is meeting with the team to identify and commit to improvement areas that bring the most value. what formal event is this done in?
Answers
The scrum master is meeting with the team to identify and commit to improvement areas that bring the most value. The formal event is this done in a sprint retrospective.
The scrum master enables to facilitate scrum to the larger group by making sure the scrum framework is accompanied. He/she is devoted to the scrum values and practices but must also remain flexible and open to possibilities for the group to improve their workflow.
A Scrum master (Scrum grasp), popularly known as the “servant leader” is a train, motivator, and chief of an Agile crew. The position of a Scrum master is to teach the group Agile techniques and assist crew contributors to comply with Scrum practices religiously.
A Scrum master is a professional who leads a team through the use of Agile assignment control thru the path of an undertaking. A Scrum grasp allows all of the conversation and collaboration between leadership and team players to ensure a successful outcome.
Learn more about scrum master here https://brainly.com/question/4763588
#SPJ4
Which part, sentence, or phrase in the passage suggests that the respective entrepreneur is a transformational leader? Four best friends from high school—Erwin, Harry, Mick, and Gary—have gone on to become entrepreneurs. They have very different personalities, and thereby, leadership styles. Erwin A(seems to concern himself with the processes rather than forward-thinking ideas.) Harry is B(finicky about minute details, but always gets the job done). C(Mick seeks advice from others and has great concern for his employees). Gary D(rewards effective behavior of his employees, and corrects them when the expectations are not met.)
Answers
Answer:
Garry
Explanation:
Brainliest please! :)
Answer:
(D) "rewards effective behavior of his employees, and corrects them when the expectations are not met."
Explanation: