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8_murik_8 [283]
4 years ago
13

Hal Gore won a $2.1 million prize for special contributions to environmental research. This prize is awarded for public achievem

ent, and Hal directed the awarding organization to transfer $570,000 of the award to the Environmental Protection Agency. How much of the prize should Hal include in his gross income?
Business
1 answer:
ioda4 years ago
8 0

Answer:

1.53 Million

Explanation:

The reason is that the Environment Protection Agency is a qualified organization and donations made to qualified organization are allowable expense under the US tax rules, so the gross income will include a net amount which is the actual amount left for Hal Gore and which is $1.53 million ($2.1 m - 0.57).

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crimeas [40]

A business plan may be defined as a description not a proposed company that explains how it expects to achieve its marketing, financial, and operational goals.

<h3>What is a business plan?</h3>

A business plan outlines a company's goals and how it intends to reach them in great detail. A written road map for the company's marketing, financial, and operational goals is provided in a business plan. Business plans are used by both new businesses and established ones.

An essential document aimed at both internal and external audiences is a business plan. For instance, before a business has developed a track record that can be relied upon, a business plan is used to entice investment. Obtaining loans from financial institutions can also be aided by it.

A business plan can also keep the executive team of a company focused on achieving set objectives and on the same page about strategic action items.

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6 0
2 years ago
For a representative farm before the​ study, the economic loss is equal to
mario62 [17]

Answer:

B. the difference in price and​ long-run average cost multiplied by the quantity produced.

<em />

<em>Note, The complete exercise was found due to a online research. </em>

Explanation:

Take a look to the image attached. Will help you to understand the exercise.

5 0
3 years ago
During October, a firm had the following transactions involving revenue and expenses. Paid $1,275 for rent for October Provided
vesna_86 [32]

Answer:

Net income   $1,265

Explanation:

The computation of the net income or net loss is shown below:

Revenues

Cash revenues    $2,900

Credit revenue    $2,050

Total revenues (a) $4,950

Less:

Expenses :  

Rent           ($1,275)

Telephone      ($280)

Salaries           ($1,750)

Office cleaning service ($380)

Total expenses (b) ($3,685)

Net income   $1,265  (a - b)

3 0
3 years ago
A married couple received $10,000 of social security benefits. Calculate the taxable amount of those benefits if the couple’s pr
Akimi4 [234]
The answer to your question would be $4,500.
3 0
2 years ago
He type of company that sells securities specializing in real estate ventures, and requires a minimum of 100 investors, is known
bezimeni [28]
Real Estate Investment Trusts or REIT sometimes referred to as the "mutual funds" of the real estate business, were created in 1960 as an aspect of the federal tax law to encourage small investors to combine their resources with the resources of others so the companies could, together, raise venture capital for real estate transactions. 
7 0
4 years ago
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