Hoyt rented office space two years ago to harris receiving

Assignment Help Accounting Basics
Reference no: EM13372960

Hoyt rented office space two years ago to Harris, receiving the first and last months' rent plus a security deposit of $2,400. In early January of this year, Harris moves and Hoyt refunds $1,050 of the deposit and keeps the remainder to cover $750 which is spent for repairs to the office space and one week of unpaid rent that amounts to $600. How would this information be reflected on Hoyt's tax return this year?


A) $1,350 income and $750 deduction B) $600 income and $750 deduction
C) $1,350 income and no deduction D) $2,400 income and $750 deduction

Reference no: EM13372960

Questions Cloud

Part-11 suppose the information content of a packet is the : part-11 suppose the information content of a packet is the bit pattern 1111 1011 1001 1100 and an even parity scheme is
Write a report on telehealth which addresses the : write a report on telehealth which addresses the followingbullintroductionbullbackgroundoverview - provide some
Case studysaint-foods limited ltd is a brittany-based snack : case studysaint-foods limited ltd is a brittany-based snack foods producer that is currently undergoing a major
4-5a hogan thrift shop payroll register for period ending : 4-5a hogan thrift shop payroll register for period ending december 18 20 marital statusno. of wh allow. deductions
Hoyt rented office space two years ago to harris receiving : hoyt rented office space two years ago to harris receiving the first and last months rent plus anbspsecurity deposit of
When some large nuclear plants run at full capacity they : when some large nuclear plants run at full capacity they produce about 1900 mw of electrical power. at this rate what
Describe what is likely to occur if company personnel : describe what is likely to occur if company personnel erroneously recorded a sales transaction for the wrong customer.
The assignmentwrite a progress report about your own : the assignmentwrite a progress report about your own professional or work accomplishments. the period to be covered is
The assignmentyou work in a general electronics repair shop : the assignmentyou work in a general electronics repair shop. the lin is expanding. mr. a. brock the head of the repair

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.

  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!

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