Noah Yobs, age 55, who has $62,000 of AGI (solely from wages) before considering rental activities, has $70,000 of losses from a real estate rental activity in which he actively participates. He also actively participates in another real estate rental activity from which he has $33,000 of income. He has other passive activity income of $20,000. Required:
What is Noah's adjusted gross income for the current year?

True or false: on january 1, year one, the epstein corporation buys a plot of land with a four-story office building. the company believes the building is worth $1.9 million and has an estimated life of twenty years (with no anticipated residual value). the straight-line method is used. the land has an assessed value of $100,000. because the seller was interested in a quick sale, epstein was able to buy this land and building for $1.7 million. depreciation expense to be recognized in year one is $80,750.

Karen is working on classifying all her company’s products in terms of whether they have strong or weak market share and whether this share is in a slow or growing market. what type of strategic framework is she using?

Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget. the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total $772,800, of which $556,800 is fixed overhead. a total of 119,300 units, using 478,000 direct labor hours, were produced during the year. actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.