User Account

All Pages

Calculate the effect of Jamari business on his AGI

Assignment Help Accounting Basics
Reference no: EM132656900

Problem - Jamari Peters (Social Security number 123-45-6789) conducts a business with the following results in 2019:

Revenue $20,000

Depreciation on car 3,960

Operating expenses of car 3,100

Rent 6,000

Wages 8,200

Amortization of intangibles 680

Jamari estimates that due to a depressed real estate market, the value of land owned by the business declined by $5,200.

Required -

a. Calculate the effect of Jamari's business on his AGI.

b. How would your answer in part (a) change if the activity was a hobby?

Reference no: EM132656900

Questions Cloud

Determine the amount of income Alex must report : Without regard to this activity, Alex's AGI is $42,000. Determine the amount of income Alex must report and the amount of the expenses
Three phases-strategy formulation : The strategic management process encompasses three phases-strategy formulation, implementation, and evaluation and control. Discuss.
Understand about consumer behaviour : What are the benefits for the company to understand about consumer behaviour?
Calculate the total number of hours demanded per week : Kimberly Young owns Crane, an educational tutoring center in Greenville. Calculate the total number of hours demanded per week.
Calculate the effect of Jamari business on his AGI : The value of land owned by the business declined by $5,200. Calculate the effect of Jamari business on his AGI
What can Terry deduct : Terry traveled to a neighboring state to investigate the purchase of two hardware stores. Under the following circumstances, what can Terry deduct in 2019
Determine the amount that Henrietta can deduct : Henrietta, the owner of a very successful hotel chain in the Southeast, Determine the amount that Henrietta can deduct in the current year for investigating
Identifying bias in scientific reporting : Give one example of a ‘folk-psychology' claim that was not discussed in section this week. This can be something you have heard in your life, or one that you.
Calculate the total relevant cost to make or buy the timer : Calculate the total relevant cost to make or buy the timer units. (Round answers to 0 decimal places, e.g. 5,250.). Direct fixed manufacturing overhead 8

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd