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zzz [600]
3 years ago
5

Toby, owner of a cupcake shop in New York, is considering opening a similar business (i.e., a cupcake shop) in Phoenix. After sp

ending $4,200 investigating such possibilities in Phoenix, Toby decides against opening the store. What is the maximum amount of deduction for the current year attributable to these expenditures?A) $0B) $420C) $840D) $4,200
Business
1 answer:
crimeas [40]3 years ago
6 0

Answer:

D) $4,200

Explanation:

the business investigation expenses of a taxpayer who is already engaged in a similar trade or business are fully deductible in the year incurred regardless of whether or not the taxpayer goes into a new business.

Therefore, the maximum amount of deduction for the current year is

$4,200.

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The team created to document procedures throughout the organization had several _________________________, or expectations of be
iogann1982 [59]

Answer:

a. team norms

Explanation:

8 0
2 years ago
Read 2 more answers
Identify the correct order of the four steps used to prepare a production cost summary (report). 1)Summarize the cost flow of ph
Veronika [31]

Answer:

The answer is "Option C".

Explanation:

The Costs of production relate to the price of a company producing or producing a service, which can include the range of expenditures, like labor, manufactured goods, supplies of items, and expenses. It has mainly four steps that can be defined as follows:

  • Complete the physical unit flow.
  • Measure the production unit's equivalent.
  • Compare the value per unit for output equivalent.
  • Assign costs to finished units and manufactured units.

5 0
3 years ago
on june 30, the company lends it chief financial officer $44,000; principal and interest 7% are due in on one year. what journal
julsineya [31]
A because only real one
8 0
2 years ago
An analysis in which all the components of an income statement are expressed as a percentage of net sales is called blank_______
KATRIN_1 [288]

Answer:

Common Size Income Statement

Explanation:

In a common size income statement, each line item of the Income statement is expressed as a percentage of the sales amount for that period.

This helps in comparing performance of companies in different sectors or industries.

7 0
3 years ago
The following data pertain to an investment proposal: Required investment $75,000 Annual cash savings $18,000 Projected life of
ehidna [41]

Answer:

Explanation:

Using a financial calculator, input the following using CF function;

Initial Investment ; CF0 = -75,000

Yr1 cashflow ; C01 = 18,000

Yr2 cashflow ; C02 = 18,000

Yr3 cashflow ; C03 = 18,000

Yr4 cashflow ; C04= 18,000

Yr5 cashflow ; C05 = 18,000

Yr6 cashflow ; C06 = 18,000

Yr7 cashflow ; C07 = 18,000

Yr8 cashflow ; C08 = 18,000 +4,000 = 22,000

Required rate of return = 16%

then compute Net present value by keying in NPV, CPT = $4,404.74

5 0
3 years ago
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