Emily, who lives in Indiana, volunteered to travel to Louisiana in March to work on a home-building project for

Business

1 answer:

solmaris [256]4 years ago

3 0

Answer:

D) $2,200

Explanation:

The IRS does not allow individuals to deduct time spent as a volunteer from their gross income, volunteers can only deduct certain expenses related to the activity.

The only things that Emily can deduct for this charitable activity are transportation costs, lodging costs and meals:

Emily's deduction = $600 + $1,200 + $400 = $2,200

You might be interested in

Hamasaki Company owns 30% of CDW Corp. stock and has significant influence. Hamasaki received $6,500 in cash dividends from its

Anuta_ua [19.1K]

Answer:

A. True

Explanation:

Account Title Debit Credit

Cash 6500

Investment in CDW Corp. 6500

4 0

3 years ago

Alexandra has determined that studying an hour for her economics quiz will improve her grade on the quiz from 75 to 100. She als

Darina [25.2K]

Answer:

study when the hourly rate is below or equal to $20

Explanation:

Cosidering the economic principles of opportnity cost Alexandra will only study that extra time if the loss wages are less or equal to $20 dollars

as a higher hourly rate will make the $20 dollar she consider the change in grade worth it to leave a net loss after considering the implicit cost of the test

5 0

3 years ago

Villalpando Winery wants to raise $35 million from the sale of preferred stock. If the winery wants to sell one million shares

statuscvo [17]

Answer:

(a) $4.2

(b) $5.6

(d) $2.45

(e) $2.1

(f) $1.05

Explanation:

Given that,

Total amount of capital raised from the sale of preferred stock = $35 million

Number of shares = 1 million

Price per share = Total capital raised ÷ Number of shares

= $35 million ÷ 1 million

= $35 per share

(a) If a Expected rate of return = 12 percent