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bazaltina [42]
3 years ago
15

Manny hired his brother’s firm to provide accounting services to his business. During the current year, Manny paid his brother’s

firm $94,000 for services even though other firms were willing to provide the same services for $64,000. How much of this expenditure, if any, is deductible as an ordinary and necessary business expenditure?
Business
1 answer:
Naily [24]3 years ago
3 0

Answer:

$64,000

Explanation:

In order to be deductible, a business expense must be both ordinary and necessary. Being ordinary means that it is a plausible expense for this business, since the expense in question is related to accounting services, it is ordinary. Being necessary means that the expense is the minimum required and is appropriate and helpful to the business. In this case, all of the expense was not required, therefore, only $64,000 (the reasonable market value for the services provided) are deductible.

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Presented below is information for Headland Company.
OlgaM077 [116]

Answer and Explanation:

The computation is shown below:

For account receivable turnover ratio

Accounts Receivable Turnover is

= Sales ÷ Average Receivables

Beginning Accounts Receivable  $21,400

Add: Sales                                 $105,300

Less: Cash Receipts                $81,300

Ending Accounts Receivable   $45,400

Now

Accounts Receivable Turnover is

= $105,300 ÷ ($21,400 + $45,400) ÷ 2

= 3.15 times

Now days to sell is  

= 365 ÷ 3.15 times

=116 days

5 0
3 years ago
As societies become larger humans devised new cultural systems to ____
Aloiza [94]
<span>Group Cohesion This can be termed as a bond that pulls individuals toward enrollment in a specific gathering and opposes separation from that gathering.</span>
3 0
3 years ago
In table 10.1, what is the number of unemployed in year 1?
kvv77 [185]
I believe the answer is b
3 0
3 years ago
As the hotel industry matures, corporations are either acquiring or merging with each other. This is: A. Safety and security B.
rodikova [14]

Answer:

B. Consolidation

Explanation:

Consolidation (or amalgamation), in a bussines context, is <em>when different companies combine to form a larger organization in order to improve their efficiency, long-term cost savings and a concentration of market share.</em>

I hope you find this information useful and interesting! Good luck!

5 0
3 years ago
____ focuses on the productivity of the individual worker; the _____ approach focuses on the total organization.
telo118 [61]

Individual productivity in the workplace entails executing tasks that advance you toward achieving your objectives in a timely manner and contribute to your work-life balance and simplicity. You divide the average production for a given period by the expenses incurred or the resources, such as staff, used during that period to determine productivity.

Being able to create, especially quickly and with excellent quality, is a sign of productivity. Making excellent school tasks in a short amount of time is an example of productivity. How quickly toys can be produced in a toy factory is an illustration of productivity.

To learn more on individual productivity

brainly.com/question/3053378

#SPJ4

7 0
1 year ago
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