In 2019, grant's personal residence was completely destroyed by fire. he was insured for 100% of his actual loss, and he received the insurance settlement. grant had adjusted gross income before considering the casualty item of $30,000. pertinent data with respect to the residence follows: cost basis $280,000 value before casualty 250,000 value after casualty –0– what is grant's allowable casualty loss deduction?
a. $10,000
b. $6,500
c. $6,900
d. $0
e. $80,000

In each of the following cases, find the unknown variable. ignore taxes. (do not round intermediate calculations and round your answers to the nearest whole number, e. g., 32.) accounting unit price unit variable cost fixed costs depreciation break-even 20,500 $ 44 $ 24 $ 275,000 $ 133,500 44 4,400,000 940,000 8,000 75 320,000 80,000

Which of the following is an example of a monetary policy? a. the government requires credit card companies to protect customers' privacy. b. the government restricts the amount of money that banks can lend. c. the government lowers taxes and increases spending. d. the government pays for repairing damage from a natural disaster.

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.