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Lady bird [3.3K]
3 years ago
12

Lara uses the standard mileage method for determining auto expenses. During 2019, she used her car as follows: 9,000 miles for b

usiness, 2,000 miles for personal use, 2,500 miles for a move to a new job, 1,000 miles for charitable purposes, and 500 miles for medical visits. Presuming that all the mileage expenses are allowable (i.e., not subject to percentage limitations), what is Lara's deduction for: a. Business? b. Charitable? c. Medical?
Business
1 answer:
Scorpion4ik [409]3 years ago
4 0

Answer:

The answers are:

A) $5,220

B) $140

C) $100

Explanation:

The IRS mileage deduction rate for 2019 (Notice 2019-02):

  • 58 cents per mile for business miles driven
  • 20 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

A) Business mileage deductions:

9,000 miles x $0.58 per mile = $5,220

B) Charitable mileage deductions:

1,000 miles x $0.14 per mile = $140

C) Medical mileage deductions:

500 miles x $0.20 per mile = $100

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Speciality Steel Inc. will manufacture and sell 250,000 units of their product next year. Fixed costs will be $250,000. Variable
Otrada [13]

Based on the amount to be sold and the intended level of earnings, the selling price per unit should be<u> $3.40</u>

The Contribution margin needed is:

<em>= Fixed cost + Required earnings </em>

= 250,000 + 260,000

= $510,000

To get to this amount, the sales should be:

<em>Contribution margin = Sales x ( Selling price - Variable cost)</em>

510,000 = 250,000 × 0.6x

510,000 = 150,000x

x = 510,000 / 150,000

x = $3.40

In conclusion, the selling price is $3.40

Find out more about intended selling price/ quantity at brainly.com/question/25638811.

6 0
3 years ago
Sandhill Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $132,500 Allowance
goldfiish [28.3K]

Answer:

S/n  Accounts title                                        Debit      Credit

a.      Bad Debt expenses                          $2,655

                Allowance for Doubtful debts                    $2,655

                ((132,500*5%)-3,970)

        (Being bad debt expense recorded)  

b.       Bad Debt expenses                           $8,255

                  Allowance for Doubtful debts                   $8,255

                   {(132,500*5%)+1,630]

         (Being bad debt expense recorded)

5 0
3 years ago
Tarihteki ilk padişah kimdir?​
Mnenie [13.5K]

Answer:

1osman Gazi bey dir

2Orhan bey gelir

3Murat Hüdâvendigâr, Şehit

4Bayezid Yıldırım, Sultân-î İklim-i Rûm

5 0
3 years ago
Theo chocolate is ready to take their products abroad. Deborah, Theo chief marketing officer, has decided that the company needs
gayaneshka [121]

Answer: B) export strategy

Explanation:

3 0
4 years ago
Linda spent 3/4 of her savings on furniture. She then spent 1/2 of her remaining savings on a fridge. If the fridge cost her $15
romanna [79]

Answer: $1,200.

Explanation:

Given that,

Linda spent 3/4 of her savings on furniture and spent 1/2 of her remaining savings on a fridge.

Fridge cost = $150

Let Original savings be x

Amount spent on furniture = \frac{3}{4} x

Amount spent on furniture = \frac{1}{2} (x - \frac{3}{4}x)

                                      150 = \frac{4x - 3x}{8}

                                          x = $1,200

Therefore, Linda's original savings is $1,200.

6 0
3 years ago
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