Lush Gardens Co. bought a new truck for $58,000. It paid $5,800 of this amount as a down payment and financed the balance at 5.50% compounded semi-annually. If the company makes payments of $1,800 at the end of every month, how long will it take to settle the loan?

None

Alicia and Marie own a vacation home at the beach. During the year, they rented the house for 42 days (six weeks) at $975 per week and used it for personal use for 58 days. The total costs of maintaining the home are as follows: Mortgage interest Property taxes Insurance Utilities Repairs Depreciation Required: $ 4,540 870 1,455 3,455 1,985 5,840 a. What is the proper tax treatment of this information on their tax return using the Tax Court method? Note: Use 365 days in a year. Round your intermediate computations to 5 decimal places and final answers to nearest whole dollar value. Schedule E Income Mortgage interest $ 5,850 Schedule A 0 $ Property taxes Insurance Utilities EA 365 65 $ 4,540 870 + $ 611 $ 1,450 Repairs $ 835 0 Depreciation $ SA 2,457 0 Net income $ (1,776)

he partnership of Winn, Xie, Yang, and Zed has the following balance sheet: Cash $ 35,000 Liabilities $ 47,000 Other assets 241,000 Winn, capital (50% of profits and losses) 65,000 Xie, capital (30%) 84,000 Yang, capital (10%) 45,000 35,000 Zed, capital (10%) Zed is personally insolvent, and one of his creditors is considering suing the partnership for the $4,000 that is currently owed. The creditor realizes that this litigation could result in partnership liquidation and does not wish to force such an extreme action unless Zed is reasonably sure of obtaining at least $4,000 from the liquidation. Determine the amount for which the partnership must sell the other assets to ensure that Zed receives $4,000 from the liquidation. Liquidation expenses are expected to be $20,000. (Do not round intermediate calculations.) Minimum Amount: