Answer:
A. $1,300 "for AGI.
Explanation:
The computation of the deductible amount is shown below:
= Air fare to repair investment rental property + 50% × (Meals + tickets to a football game with hospital administrators)
= $1,000 + 50% × ($500 + $100)
= $1,000 + $300
= $1,300
For meals and tickets, 50% deduction is applicable whereas for the air fair full deduction is applicable
And, for investment in seminar no deduction is allowed
Answer:
B. The primary advantage to municipal bonds is that interest income received is not taxed by the federal government.
Explanation:
A bond can be defined as a debt or fixed investment security, in which a bondholder (investor or creditor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time. The bond issuer are expected to return the principal (face value) at maturity with an agreed upon interest (coupon), which are paid at fixed intervals.
A municipal bond can be defined as a type of bond that is typically issued by a municipality, county, local government or state in order to finance or sponsor capital expenditures for the public such as water supply, construction of roads, etc.
Hence, the primary advantage to municipal bonds is that interest income received on this type of bond is not taxed by the federal government.
Answer:
If her purpose was to rehabilitate Sam so that the community would benefit by removing his need to commit crimes, this would be consistent with the idea of: Community based program such as Prisoner Reentry Initiative (PRI).
Explanation:
in 2004, US congress enacted the Prisoners Reentry Initiative (PRI). The program was managed by the Department of Labor,a sum of $300 million dollar was voted for to execute the project which includes transitional housing, job training and job placement for convicted criminals.
This initiative also incorporates the use of peer mentoring and faith based interventions to help with the transition from prison to the community.
mental health services, substance abuse treatment and skill acquisition programs was also introduced.
This idea stems from the belief that external factors can also affect a persons behavioral pattern.
This initiative was found to be effective as it was truly devoted to meeting the need of individuals and impacting the community in general.
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Estimated overhead costs for the year are $ 810,000, and estimated direct labor hours are 360,000.
The company incurred 20,000 direct labor hours.
First, we need to calculate the estimated overhead rate:
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
Estimated manufacturing overhead rate= 810,000/360,000= $2.25 per direct labor hour
Now, we can allocate overhead based on actual direct labor hours:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 2.25*20,000= $45,000
Answer:
Total FV= $21,043.97
Explanation:
Giving the following information:
Interest rate= 7% compounded annually
<u>To calculate the total accumulated future value, we need to use the following formula on each deposit:</u>
FV= PV*(1+i)^n
Deposit 1= 3,500*1.07^5= 4,908.93
Deposit 2= 5,300*1.07^4= 6,947.22
Deposit 3= 7,500*1.07^3= 9,187.82
Total FV= $21,043.97