All categories

2 years ago

2) Can a caterer use leftover foods donated to a charity as a charitable tax deduction? Why or why not?

Business

1 answer:

stellarik [79]2 years ago

3 0

Answer:

it would be deductible as a charitable donation on your personal return if you are taking the itemized deduction instead of the standard deduction.

Explanation:

You might be interested in

Which of these factors would NOT cause the supply curve for a particular good to shift?a. a change in the technology used to pro

attashe74 [19]

Answer:

The answer is: a change in the price at which a substitute good is sold

Explanation:

A shift in supply means a change in the quantity supplied at every price.

Let's assume we sell product A. If the price of a substitute product B increases, then the quantity demanded for product A will increase as the quantity demanded for product B decreases. That will cause an increase in the quantity supplied of product A, which may in turn rise the price of product A until again both products (A and B) match their prices.

Instead, a shift in the supply curve means that the quantity supplied of a product will change at every price level.

5 0

3 years ago

Balance of trade summarizes

babunello [35]

Answer:

C. The flow of goods and services.

Explanation:

Balance of trade: In Economics, the balance of trade accounts for the inflow and outflow of the goods and services in in a country for a given period, it is also called the <em>balance of payment.</em>

8 0

3 years ago

Read 2 more answers

Rick Co. had 30 million shares of $1 par common stock outstanding at January 1, 2021. In October 2021, Rick Co.'s Board of Direc

Bond [772]

Answer:

Debit retained earnings for $15.30 million.

Explanation:

As per the data given in the question,

Declaration of common stock dividend indicates no cash payments, only extra shares issued with rate of stock dividend

In this Rick Co. had 30 million shares and Rick Co. declared 1% stock dividend

which means 30 million × 1% = 0.30 million shares issued

Retained earning = (0.30 million × $51)

= $15.30 million

To common stock A/c = (0.30 × $1) = $0.30 million

To capital paid in access A/c = (0.30 million × ($51-$1)) = $15.00 million

( Being stock dividend was issued at 1% )

Hence, Option (d) Debit retained earning for $15.30 million is correct.

8 0

3 years ago

Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe. Schell has a

kenny6666 [7]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Schell has a total of $39,060 in overhead.

Direct labor hours:

Standard= 400

Deluxe= 200

Machine hours:

Standard= 4,150

Deluxe= 3,000

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

1) Direct labor hours as allocation rate

Estimated manufacturing overhead rate= 39,060/600= $65.1 per direct labor hour

Now, we can allocate to each product line:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Standard= 65.1*400= $26,040

Deluxe= 65.1*200= $13,020

2) Machine hour as allocation rate:

Estimated manufacturing overhead rate= 39,060/7,150= $5.46 per machine hour

Now, we can allocate to each product line:

Standard= 5.46* 4,150= $22,659

Deluxe= 5.46*3,000= $16,380

7 0

3 years ago

The ceo of big wheel automotive is concerned about declining sales. he has identified his research problem as the fact that his

White raven [17]

The CEO of Big Wheel Automotive is using market research organizations for secondary data about the research problem that he is experiencing. The market research is a way of having to gather information in which is helpful for an organization or business in order to improve their own and a way of having to target their consumers.

5 0

3 years ago