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maw [93]
3 years ago
13

Sue is a small business owner who often gives gifts to clients. She gives a $40 gift to her client, Mr. Smith, and his wife. Sue

spent $6 to wrap the gift. She also gave out 400 calendars with her company name on them. Each calendar cost $1. Sue also gave her secretary a $370 watch for his 10 years of service. How much of the above expenses may she deduct? A. $816 B. $446 C. $795 D. $801 E. None of the above
Business
1 answer:
PilotLPTM [1.2K]3 years ago
8 0

Answer:

D) $801

Explanation:

Businesses can only deduct $25 per gift per client, in this case the client's wife is not an actual client, so Sue can only deduct $25 for the gift plus the wrapping expenses. She can also deduct the $400 spent in the calendars and the $370 watch.

Sue's total deductions = $25 + $6 + $400 + $370 = $801

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How does microfinance benefit an economy?​
JulsSmile [24]

Answer:

it enables people to use money wisely

Explanation:

this is because a specific amount of money will be provided for a specific reason

3 0
2 years ago
Shelton, Inc., has sales of $20 million, total assets of $18.2 million, and total debt of $9.1 million. Assume the profit margin
Verizon [17]

Answer:

$1,800,000

Explanation:

Shelton incorporation has sales of $20,000,000

Total assets is $18.2 million

Total debt is $9.1 million

Profit margin is 9%

Therefore the company net income can be calculated as follows.

= sales × profit margin

= 20,000,000 × 9/100

= 20,000,000 × 0.09

= 1,800,000

Hence the company net income us $1,800,000

3 0
2 years ago
Hawaiian food would be an example of what type of cuisine?
iragen [17]
Nouvelle cuisine



Hope it helps


Pls mark as brainlist
8 0
2 years ago
These items are taken from the financial statements of Coronado Industries at December 31, 2017. Buildings $105,800 Accounts rec
swat32

Answer:

Assets:                                         Liabilities:

<u>Current Assets       </u>                    <u> Current Liabilities</u>

Cash                            11,840          Accounts payable          9,500

Accounts receivable 12,600          Notes payable(current) 13,600

Prepaid insurance <u>     3,200  </u>        Interest payable              3,600

Total current assets:  27,640          Total Current Liab         26,700

<u>Fixed assets:</u>                               <u>Long-term Liabilities:</u>

Buildings (net)       60,200           Note Payable:                80,000

Equipment (net)     63,680             Total Liabilities            106,700

Land                     <u>   61,200   </u>      Equity:

total fixed assets: 185,080              Common stock         60,000

                                                         RE                              46,020

                                                       Total Equity                106,020

Total Assets: 212,720‬                  Total Liab + E              212,720

Explanation:

for RE we need to calculate the net income

income:

Service revenue           14,700

Insurance expense         ( 780 )

Depreciation expense ( 5,300 )

Interest expense          ( 2,600 )

Net income:                    6,020

<u />

<u>RE </u> 40,000 + 6,020 = 46,020

for note payable we split the current and long term portion

93,600 - 13,600 = 80,000 long term debt

te rest is self-explanatory

8 0
3 years ago
Suppose a country's productivity last year was 84. if this country's productivity growth rate of 5% is to be maintained, this me
cupoosta [38]
88.2
Multiply 84 by 1.05
6 0
3 years ago
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