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Frame a response to the given answer in 200 - 250 words.
Question : What are separately stated items on a K-1? Why is it necessary to separate these items from ordinary income?
The K-1 form allows the partner to allocate the ordinary losses, special income and deductions, as well as gains and losses for each partner. They then file the K-1 form with their individual tax returns. They are not allowed to take the standard deduction, exemptions, and foreign taxes paid or net operating losses for the business.
It is necessary to separate these items from ordinary income as the income generated from the partnership is essentially self-employed income and the partners will have to pay income taxes respectively on the income generated from the business.
Consider a 3-month European put option on a non-dividend-paying stock, where the stock price is $60, the strike price is $60, the risk-free rate is 3% per annum. Stock price will either move up by 10% or down by 5%, every month. Price the put with bi..
Which one of the following best defines the term collection policy?
Allen Air Lines must liquidate some equipment that is being replaced. The equipment originally cost $13 million, of which 85% has been depreciated. The used equipment can be sold today for $4.55 million, and its tax rate is 40%. What is the equipment..
In some manufacturing operation three types of boreholes for drilling may be used. The cheapest is a stainless high speed steel (HSS), but has a shorter one of gold or another oxide of titanium nitride life. what kind of hole should be used, accordin..
Suppose we are assuming a $5 million 20-year mortgage with 8 years remaining at a rate of 4%. If we could obtain a new 8-year mortgage for 5%, what is the value of assuming this mortgage?
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At the end of each three months Laura puts $200 into an account that pays 4% interest compounded quarterly. After 10 years she discontinues the payments but leaves the total amount in the account to collect interest for 10 more years. Determine the b..
Scott Investors, Inc., is considering the purchase of a $360,000 computer with an economic life of five years. The computer will be fully depreciated over five years using the straight-line method. The market value of the computer will be $60,000 in ..
Suppose you are going to receive $13,500 per year for five years. The appropriate inerest rate is 8.4 percent. What is the present value of the payments if they are in the form of an ordinary annuity and what is the present value if the payments are ..
What is the importance of using the specified asset class in strategic asset allocation for the following types of investors? What is your suggested weight for each of the allocations? Why? Long-term bonds for a life insurer and for a young investor...
Ghana cedes has depreciating against all major foreign trading currencies in recent time. Use the experience of the Ghanaian firms to suggest the need for exchange rates forecasting in Ghana. Discuss with examples the three main types of arbitrage. D..
How can the conventional financial accounting system be made to serve the purpose of operational control
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