Is the proposed action legal? if yes, does the proposed action maximize shareholder value? if yes, is the proposed action ethica
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Answer:
Complete question is attached in form of image.
a). Maximum amount of charitable deduction for Cash Contrbutions = 7650 + 5450
= $ 13100
a). Maximum amount of charitable deduction for Property Donations
= 15250 + 18375
= $ 33625
The amount of deduction for contribution to American Heart Association will be the amount equal to the cost of antique painting given to the american heart association.
The amount of deduction for contribution to First Methodist Church will be the amount equal to the FMV of Coca-Cola stock given to the first methodist church.
FMV stands for Fair market value.
Maximum amount of charitable deduction for Cash contribution = $ 13100 and Maximum amount of charitable deduction for Property donation = $ 33625.
Answer: The answer has been attached.
Explanation:
The journal is an accounting book that is used to record the transactions that take place in a business.
The entry to retire the bonds have been recorded. It should be noted that the bonds payable and the premium on
the bonds payable are debited while
the gain on the retirement of bonds and cash was credited.
Kindly, check attached file.
