1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rainbow [258]
3 years ago
15

Amber Corporation donated inventory of clothing (basis of $136,000, fair market value of $170,000) to a qualified charitable org

anization that operates homeless shelters.
Compute the charitable contribution deduction (ignoring the percentage limitation) for the C-corporation.
Business
1 answer:
viva [34]3 years ago
3 0

Answer:

charitable contribution deduction =  $153000

Explanation:

given data

basis = $136,000

fair market value = $170,000

solution

we get here charitable contribution deduction that is express as

charitable contribution deduction = Basis + 50% of (Fair - basis)    .......................1

put here value and we get

charitable contribution deduction = $136,000 + 0.50 ($170,000 - $136,000 )

charitable contribution deduction =  $153000

You might be interested in
Economic bads are items
sdas [7]
Economic bads for which the desired quantity is less than what nature provides at a zero price.<span>
Those are items people would pay to avoid or get rid of. They are</span><span> the opposite of an </span>economic<span> good</span><span>
Examples of economic bads include: pollution, noise, unhealthy food, risk, losss of resources,...</span>
7 0
3 years ago
On December 31, 2019, Spearmint, Inc., issued $450,000 of 9 percent, 3-year bonds for cash of $461,795. Prepare the necessary jo
Sophie [7]

Answer:

Dr Cash for $461,795,

Cr Premium on Bonds Payable for $11,795

Cr Bonds Payable for $450,000

Explanation:

Journal entries

Dr Cash for $461,795,

Cr Premium on Bonds Payable for $11,795

Cr Bonds Payable for $450,000

(Issue price of $461,795 - par value of $450,000) =$11,795

8 0
3 years ago
Read 2 more answers
You plan on making a $235.15 monthly deposit into an account that pays 3.2% interest, compounded monthly, for 20 years. At the e
crimeas [40]

Answer:

Ans. a) $769.27 is the amount of money that you can withdraw every month for 120 months at a rate of 3.2% compounded monthly if you deposit $235.15 every month, for 20 years.

Explanation:

Hi, first we have to turn this compounded rate into an effective rate, in this case, effective monthly, that is by doing the following.

r(monthly)=\frac{0.032}{12} =0,00267

that is 0.267% effective monthly.

Now, we need to take all this annuities to 20 years in the future, which is going to be the present value to use in order to find the amount of moneuy that you can withdraw every month, for 120 months (10 years).

FutureValue=\frac{A((1+r)^{n} -1)}{r}

For A = 235.15; r =0,00267; n=240

FutureValue=\frac{235.15((1+0.00267)^{240} -1)}{0.00267}=78,910.41

Now, in order to find the amount of money to withdraw for 10 years, every month, we have to use the following equation.

PresentValue=\frac{A((1+r)^{n}-1) }{r(1+r)^{n} }

Since the future value 20 years from now is the present value of the annuity we are looking for, all should look like this.

78,910.41=\frac{A((1+0.00267)^{120}-1) }{0.00267(1+0.00267)^{120} }

78,910.41=A(102.5781087)

A=\frac{78,910.41}{102.5781087} =769.27

So the answer is a) $769.27

Best of luck.

8 0
2 years ago
A ______ tax structure applies the same tax rate to all levels of income, while a ______ tax structure applies higher tax rates
valina [46]

1. <u>Proportional taxation</u> applies where the same tax rate is used no matter the level of income.

2. A <u>progressive tax structure</u> uses higher tax rates with increases in the tax base.

3. A <u>regressive tax structure</u> applies lower tax rates despite increases in the tax base.

<h3>The differences between the tax structures</h3>

The implication of the above explanations is that a progressive tax system takes a larger percentage of income from high-income groups than from low-income groups. A proportional tax system takes the same percentage of income from all income groups, while a regressive tax structure operates from the opposite angle, taking a larger percentage of income from low-income groups than from high-income groups.

Thus, one of these three tax structures may be prevalent in some countries of the world.

Learn more about the progressive, proportional, and regressive tax structures here: brainly.com/question/13701600

3 0
2 years ago
Samantha is the return desk coordinator in a department store, and she has set a goal this month of finishing her daily office w
defon

Answer:

The answer is true

Explanation:

Operational goals are specific to the daily tasks and requirements to run a business

6 0
3 years ago
Other questions:
  • Suppose you are a T-shirt producer in a market without price controls. You are charging a price that is below the equilibrium pr
    8·2 answers
  • Smith Concrete Company owns enough ready-mix trucks to deliver up to 100,000 cubic yards of concrete per year (considering each
    14·1 answer
  • The neoclassical view holds that long-term expansion of potential GDP due to _______________________ will determine ____________
    11·1 answer
  • 30PTSS PLEASE HELP ME IM REALLY BAD AT FINANCE
    13·2 answers
  • what occurs when the free market is not able to allocate resources and goods and services efficiently​
    14·1 answer
  • All of the following are positive outcomes of employee development except: Group of answer choices development enhances the orga
    12·1 answer
  • An unanticipated expense that will make it difficult to get by day-to-day would be a candidate for…
    15·1 answer
  • When is it appropriate to use a nontraditional résumé?
    13·1 answer
  • What are the six stages of the product adoption process?
    8·1 answer
  • Briefly define net income and net loss.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!