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notsponge [240]
3 years ago
14

Arnold, a single individual, has adjusted gross income of $65,000 in the current year. Arnold donates the following items to his

favorite qualified charities:
1. ABC stock acquired six years ago at a cost of $6,000. FMV at date of contribution was $40,000.
2. Personal clothing items purchased two years ago at a cost of $1,000. FMV at the date of contribution was $400. What is the amount of his charitable contribution for the current year?
A. 15,400
B. 23,000
C. 19,300
D. 18,800
Business
1 answer:
Olin [163]3 years ago
3 0

Answer:

Option A. $15,400

Explanation:

The net deduction allowed as an charitable contributions are as under:

                                             $

1. ABC Cop. stock

Cost $6000  

FMV <u>$22000</u>                   $16000

2. Personal Clothing Items

Cost $1000

FMV <u>$400  </u>                      <u>  ($600) </u>

Net Deduction                 $15,400

The amount that qualifies as charitable contribution for the year is $15400.

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Answer: Option C

 

Explanation: Social capital refers to the additional success an organization get due to its positive relationships and communication network both within and outside the organisation. It is not a decision making but an ongoing process and is considered necessary in modern business environment.

The media houses could affect the business operations at a high level. Thus, positive relationships with the media houses can bring the organisation an edge over its competitors.

As it is related to relationship building and management it could be facilitated by the social capital.

 

7 0
3 years ago
Alexis Company was started in Year 1. At the end of Year 1 the Company had the following accounting equation.Assets = Liabilitie
swat32

Answer:

Company's assets at the end of Year 2 were provided by creditors = 20%

Explanation:

<u>Calculation of Cash at the end of Year 2 </u>

Cash balance at the end of Year 1     $600

Less: Paid off to notes payable          ($500)

Add: Earned cash revenue                 $700

Less: Paid cash expenses                   ($400)

Less: Paid cash dividend                     <u>($100)</u>

Cash balance at the end of Year 2    <u>$300</u>

Notes payable at the end of Year 2 = Beginning balance - Paid off

= $1,000 - $500

= $500

<u>Calculation of Notes Payable at the end of Year 2 </u>

Notes Payable at the end of Year 1     $1000

Less: Paid off to notes payable            <u>($500)</u>

Notes Payable at the end of Year 2 <u>$500</u>

Total assets at the end of Year 2 = Cash + Land

= $300+2200

= $2500

Creditors at the end of the Year 2 (Notes payable) = $500

Company's assets at the end of Year 2 were provided by creditors = Creditors * 100 / Total assets

= $500 * 100 / $2500

= 20%

5 0
2 years ago
Mike and Ike, the fruit-flavored chewy candies, needed a major facelift. The brand had a small but loyal core of "munchers." A r
elena55 [62]

Answer:

D. Product and Promotion

Explanation:

Product strategies are strategies to outlines the direction of a product, how it will get there and how it will succeed. They are strategies used in improving products.

By changing the product packaging, the company modified its product strategy.

Promotion strategies are strategies used in promoting or stimulating demand for a company's goods and services. They are designed in a way to mostly inform and persuade the public about purchasing their products and services. By developing a contest geared towards 12 to 17 year olds, the company modified its promotion strategies.

8 0
3 years ago
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Sophia is a postal carrier for the United States Postal Service. She frequently complains about all the inefficiencies and unfai
weeeeeb [17]

Answer: Alienated follower

Explanation:

Alienated followers are independent and critical thinkers who participate not to the beam or fullness of their capacity in a group. Sophia is discouged by the inactiveness of her boss concerning her complians and this makes her to complain to anyone who may be willing to speak to him, this makes her a alienated follower.

5 0
3 years ago
In the classic downward-sloping demand curve, as price increases, the demand for the product or service
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The demand for a product or service would likely decrease as price increases as far as the classic downward-sloping demand curve is concerned. In addition, this specific type of demand curve characterises increase of consumer demand as the price significantly falls. 
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