Answer:
E. They will receive several tax deductions
Explanation:
Certain "reasonable and necessary" adoption related expenses are quantifiable for tax deductions, such as:
- Court costs
- Attorney's fees
- Traveling expenses related to the adoption
- Certain other costs directly related to the adoption process
Answer: $32000
Explanation:
It should be noted that ministers or clergymen can exclude the home rental value or housing cost from the calculation of the gross income
Rev. Snider's self-employment income
Therefore, in this case, Rev. Snider's self-employment income will be:
Salary = $20,000
Add: Housing allowance = $12000
Total = $32000
Answer:
Answer not in the given option, please recheck for error.
depreciation in 2021 would be= $82,000
Explanation:
Depreciation incurrred in 2019:
Using straight line depreciation = original cost - salvage value / useful life
=(400,000-40,000)/10
=$36,000
The depreciation from January 1, 2019 to December 31st 2020 = 2 years
therefore depreciation for the two years = $36,000 x 2 = $72,000
Book value recorded early 2021= Original cost - the A ccumulated Deprecaition
= 400,000- 72,000= $328,000
But Remaining useful life =4 years with no salvge value
Therefore depreciation in 2021 would be = Cost - salvage value / useful life
($328,000 - 0)/4
= $82,000
The power point feature that include pre-programmed settings that specify degrees of intensity for fills, lines and special effects such as shadows and bevels is EFFECTS.
Answer:
b. $14,200
Explanation:
The computation of the bad debt expense is shown below:
= Balance in the Allowance for Doubtful Accounts - wrote off accounts + written off - estimated amount
= $20,000 - $14,400 + $4,200 - $24,000
= $14,200
The computation of the estimated amount is calculated below:
= Ending balance of accounts receivable × uncollectible percentage
= $480,000 × 5%
= $24,000
