Answer
$31,000
Explanation:
(c) $31,000
Explanation:
As per IRS for Earnings of Clergy, A licensed, commissioned, or ordained minister who performs ministerial services as an employee may be able to exclude from gross income the fair rental value of a home provided as part of compensation (a parsonage) or a housing allowance provided as compensation if it is used to rent or otherwise provide a home. In order to be able to exclude the housing allowance from income, the minister's employing organization must officially designate the housing allowance as such before paying it to the minister.The fair rental value of a parsonage or the housing allowance is excludable only for income tax purposes, and not for Self-employment tax purpose.
In the given case, the church did not designate any of Luke's salaries as a housing allowance. Hence it is not deductible from Gross Income for Income Tax Purposes and irrespective of designation or not, it is not deductible for self-employment tax.
Thus, Full salary of Luke i.e $31,000 must be included when figuring net income for self-employment tax.
Explanation:
The portfolio weight of an asset is the total investment in that asset divided by the total portfolio value. First, we will find the portfolio value, which is:
Total value = 122($32) + 102($22) = $6,148
The portfolio weight for each stock is:
WeightA = 122($32) / $6,148 = .6350
WeightB = 102($22) / $6,148 = .3650
Answer:
To evaluate the effectiveness of controls over all relevant financial statement disclosures in the financial statements.
Explanation:
In Accounting, an internal control is a mechanism, procedure, rule or policy designed by management to secure assets, promote efficiency, ensure accountability and prevent fraudulent behavior in an organization.
The main goal of auditing internal control is to evaluate the effectiveness of controls over all relevant financial statement disclosures in the financial statements.
Answer:
The correct answer is letter "E": influencer, gatekeeper, and decider.
Explanation:
As Mark's business is family-owned, it implies all the decisions are not made only by him. Then, in purchasing a food concession trailers he will have to let the other members of the family know about this decision.
Mark already decided Century Industries is the best option to take for the trailers but needs to influence his point of view to his family members. In other words, Mark will be the gatekeeper between his family business and Century Industries.
It false that the causes of a problem can always possible to identify completely.
<h3>What is problem solving?</h3>
This is defined as the process of finding solution to a task that seems difficult. It is a skill, hence applied after a problem has been identified.
Hence, It false that the causes of a problem can always possible to identify completely.
Learn more about problem solving here : brainly.com/question/23945932
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