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Aleonysh [2.5K]
3 years ago
13

This year Clark leased a car to drive between his office and various work sites. Clark carefully recorded that he drove the car

23,000 miles this year and paid $7,200 of operating expenses ($2,700 for gas, oil, and repairs, and $4,500 for lease payments). What amount of these expenses may Clark deduct as business expenses
Business
2 answers:
BigorU [14]3 years ago
8 0

Answer:

$13,340

Explanation:

The standard mileage deduction for 2019 is 58 cents per mile, that means that regardless of other expenses related to the vehicle, you can only deduct $0.58 per mile driven for business purposes.

In this case, Clark drove 23,000 miles for business purposes x $0.58 per mile = $13,340

Solnce55 [7]3 years ago
5 0

Answer:

$7,200

Explanation:

Expense can be defined as the cost incurred by an organisation as it tries to generate revenue in its daily activities.

It is the cost of doing business, and is the sum total of cost incurred for all activities geared at making profit.

So in this instance Clark was visiting work sites for the company, he leased a car for $4,500 and spent $2,700 on fuel. The sum total is $7,200 and this is the amount he will deduct as business expense.

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The structure of repayment for most long-term bonds consists of a. fixed coupon payments every year until maturity. b. interest
Margaret [11]

Answer:

The correct answer is letter "B": interest payments that vary by the yield to maturity each year.

Explanation:

Bonds are investments in the form of loans that companies provide. The firm pays investors a coupon yield, which is the annual or semiannual interest paid on the principal of the bond purchased. The payments continue until the bond reaches its maturity or the amount of the principal is completely paid off.

3 0
3 years ago
Which of the following is a result of over-diversification through acquisition? Select one:
Aleksandr-060686 [28]

Answer:

3) Corporations use acquisition as a substitute for innovation.

Explanation:

The fastest way in which a corporation can enter a new market or develop new products is through buying existing companies that already operate in the new target markets or have developed the new products that the corporation wishes to sell.

Research and development is very costly and time consuming, and on many occasions the results aren't even good or are not as good as expected. By acquiring a smaller company that has already developed the product, then the corporation might even save money.  

6 0
3 years ago
__________________ has always been a feature of the Taiwanese economy, but experts warn that the _______________ _______________
liubo4ka [24]

Statistics

Exports $318 billion (2014 est.)

Export goods Electronics, flat panels, ships, petrochemicals, machinery; metals; textiles, plastics and chemicals (2014)

Main export partners China 27.1% Hong Kong 13.2% United States 10.3% Japan 6.4% Singapore 4.4% (2012 est.)

Imports $277.5 billion (2014 est.)

4 0
3 years ago
What are the reasons for having internal controls that facilitate ethical behavior?
givi [52]

Answer:

Mostly Preventive Controls  and feedback Controls

Explanation:

For this case is important to conduct preventive and feedback controls.

The definition of preventive control is "Controls that are used to keep a loss or an error from occurring". And is improtant to do these controls continuosly in order to ensure that the ethical behavior is accomplished by all the people analyzed.

The definition of feed back controls is "a process that owners and manager uses to evaluate if their teams meet the stated goals at the end of a production process"

And for this case these two controls are so important when we want to facilitate check ethical behavior since the conduct is something that needs to be measured in all the time in order to ensure the condition for any employee.

5 0
3 years ago
Philippe Organic Farms has total assets of $689,400, long-term debt of $198,375, total equity of $364.182, net fixed assets of $
solniwko [45]

Answer:

Current ratio= 1.3977

Explanation:

Current Ratio:

It is the measure of company ability to pay short term debits of one year. It also tells how company can increase its current assets.

Given:

Total assets=$689,400

Long-term debt=$198,375

Total equity= $364,182

Net fixed assets =$512,100

Sales = $1,021,500

Formula For current Ratio:

Current Ratio=\frac{Total\ Assets-Net\ Fixed\ Assets}{Total\ Assets-  long_term\ debt-total\ equity}

Current\ Ratio=\frac{\$689,400-\$512,000}{\$689,400-\$364,182-\$198,375}\\ Current\ Ratio=1.3977

4 0
3 years ago
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