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4 years ago

In which of the following circumstances can you claim a charitable tax deduction?

Business

1 answer:

Marina CMI [18]4 years ago

7 0

A You charge a family less than your normal rate for mowing its lawn because the father is out of work.

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Collection of a $1,000 Accounts Receivable A. decreases a liability $1,000; increases stockholders' equity $1,000. B. has no eff

DerKrebs [107]

Answer:

B. has no effect on total assets.

Explanation:

Both cash and accounts receivable are assets. When a sale is made on credit, the entries required are debit accounts receivable and credit revenue.

On receipt of cash, debit cash and credit accounts receivable.

Hence the collection of a $1,000 Accounts Receivable will have no effect on total assets as one asset was credited ( a reduction) while the other was debited(an increase) by the same amount.

8 0

3 years ago

Read 2 more answers

Fitness Bands Corporation gathered the following information for Job #928: Standard Total Cost Actual Total Cost Direct materia

Eduardwww [97]

Question:

standard total cost Actual total cost

Direct material

Standard 2000 pints $3.50/pint $7,000

Actual 2,500 pints $5.00/pint $12,000

Answer:

Materials quantity variance= $1,750 unfavorable

Explanation:

Material quantity variance occurs when the actual quantity used to achieved a given level of output is more or less than the standard quantity.

It is determined by the difference between the actual and standard quantity of material for the actual level of output multiplied by the the standard price

pints

Standard quantity allowed 2,000

Actual quantity used 2,500

Quantity variance 500 unfavorable

Standard price $3.50

Materials quantity variance 1,750 unfavorable

Materials quantity variance= $1,750 unfavorable

8 0

3 years ago

Which of the following is a correct application of Marginal Analysis? a. You buying 4 pairs of shoes for $240 because you are wi

RoseWind [281]

Answer:

Option d is the right one.

Explanation:

Marginal research or analysis to optimize future gains as a decision-making method. In comparison to the expenses incurred by this same behavior, it calculates added benefits. The illustration described demonstrates that the marginal gain is smaller than that of the marginal cost.
This involves purchasing goods until the marginal gain is equal to the marginal cost.

The other options aren't sufficient for the scenario provided. But that will be the best alternative for option d.

6 0

4 years ago

Dermody Snow Removal's cost formula for its vehicle operating cost is $3,000 per month plus $330 per snow-day. For the month of

katovenus [111]

Answer:

390 F

Explanation:

Spending variance is defined as the difference between the actual expenses and planned expenses. It is favorable when the actual expenses is less than planned and vice versa.

Operating cost $3000

Maintenance per snow day - $330

Budgeted snow day - 24

Actual snow day - 26

Actual operating cost - $11,190

Variance

((330*26)+3000 =11580

Actual operating cost = 11,190

Variance = 11580-11190= 390 F

6 0

4 years ago

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Which of the following describes an effective strategy for protecting yourself against identity theft?

Assoli18 [71]

C is your best answer

5 0

3 years ago

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