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Inessa05 [86]
3 years ago
7

In the current year, Oriole Corporation donated a painting worth $30,000 to the Texas Art Museum, a qualified charity. The museu

m included the painting in its permanent collection. Oriole Corporation purchased the painting five years ago for $10,000. Oriole’s charitable contribution deduction is $____________.
Business
1 answer:
n200080 [17]3 years ago
6 0

Answer:

$30,000

Explanation:

Oriole Corporation purchased the painting five years ago for $10,000. In the current year, the cost of the same painting is $30,000. Oriole Corporation donated this painting to the Texas Art Museum.

So, Oriole’s charitable contribution deduction is <u>$30,000</u> as the current value of the painting is $30,000.

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denis-greek [22]

A line of credit is similar to a credit card in that it is a flexible borrowing solution. You can draw on this revolving loan by writing a check.  You are can also borrow any part of your credit line again once you have repaid it. There are no payments until you use your line.

With a personal loan, you get the whole loan when you're approved and you start paying interest right after on the full amount. You have a schedule of payments that will get smaller until the loan is paid off.

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False

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1 year ago
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dimulka [17.4K]

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d. They are supported by information technology that provides real-time information to managers across the supply chain

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3 years ago
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vichka [17]

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A) Recognize the write-down as a separate line item.

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