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djyliett [7]
2 years ago
13

Michelle operates a food truck. Indicate the amount (if any) that she can deduct as an ordinary and necessary business deduction

in each of the following situations.
a. Michelle moves her food truck between various locations on a daily rotation. Last week, Michelle was stopped for speeding. She paid a fine of $170 for speeding, including $125 for legal advice in connection with the ticket.
Deductible Amount =__________
b. Michelle paid $795 to reserve a parking place for her food truck for the fall football season outside the local football arena. Michelle also paid $140 for tickets to a game for her children.
Deductible Amount =_____________
c. Michelle provided a candidate with free advertising painted on her truck during the candidate’s campaign for city council. Michelle paid $680 to have the ad prepared and an additional $380 to have the ad removed from the truck after the candidate lost the election.
Deductible Amount=___________
Business
1 answer:
Alborosie2 years ago
6 0

Answer:

A. Deductible Amount = $125

This is because legal advice is fully deductible while there are no deductions available for fines.

B. Deductible Amount = $ 795

This is because the amount used in reserving parking is fully deductible, while the amount for ticket for her children is personal and hence doesnt fall under deductibles.

C. Deductible Amounts = $0

For all and any political purpose, deductibles doesnt apply. Whether it is in form of cash or kind. Hence, there is no deductions in this case.

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Who sells dragon scales? Ya know like the ones ya put on chainmail. I need to know like soon.
Phoenix [80]

So, after some research, I found something called ScaleMail. You can just do a google search for it and buy it off of Etsy or Amazon. It seems like pretty quality stuff. I'd love to see what you're gonna make with it!

4 0
3 years ago
Incurring actual indirect factory wages in excess of budgeted amounts for actual production results in a?
puteri [66]

Incurring actual indirect factory wages in excess of budgeted amounts for actual production results in a controllable variance. Therefore, the option B holds true.

<h3>What is the significance of controllable variance?</h3>

Controllable variance can be referred to or considered as a variance that computes the difference between the actual quantity and the budgeted quantity sold or consumed by a firm in an economy. It can never be deficit, and is always in surplus of the budgeted amounts.

Therefore, the option B holds true and states regarding the significance of controllable variance.

Learn more about controllable variance here:

brainly.com/question/13985361

#SPJ4

The question seems to be incomplete. It has been added below for better reference.

Incurring actual indirect factory wages in excess of budgeted amounts for actual production results in a:

a. quantity variance

b. controllable variance

c. volume variance

d. rate variance

8 0
1 year ago
2. What are the ways of forecasting cost of sales?
solmaris [256]

Answer:

d. all of the choices​

Explanation:

Cost of Goods sold = Cost of material purchased + Conversion cost

And

Conversion cost hereby includes Direct labor cost and other production overheads directly attributable to the Goods sold.

So, The correct option is - d. all of the choices​

5 0
3 years ago
koukladina stop deleting my questions and answers. u call urself a moderator yet ur deleting actual questions and answers that a
monitta

Answer:

. tell them XDD

Explanation:

3 0
2 years ago
Read 2 more answers
Five hundred units of good x are currently bought and sold. The marginal buyer is willing to pay $40 for the 500th unit, and the
dimaraw [331]

Answer:

D : All options are correct

Explanation:

- The marginal buyer is the essence of demand curve while marginal seller is essence of supply curve.

- @ Q = 500 units,    Selling Price is set at SP = $35

- @ Q = 500 units,    Buying Price is set at BP = $40

- Since, SP ≠ BP our equilibrium price would be $ 37.5 assuming the price elasticity of demand and supply are equal. In any case the equilibrium price would lie in between [ 35 , 40 ] such that to prevent a shortage of units in near future.

- Moreover, if the seller decides to sell at price $35 then he must sell goods greater than 500 units to reach the equilibrium profits. However, it could also lead to excess of units or surplus.

- We see that from selling the goods at SP = $35 while the buyer is willing to pay BP = $40 for 500 goods, the seller would be under-profiting and would be earning $5*500 = $2,500 less than he would at equilibrium price of $40 and selling units greater than 500. Hence, 500 goods is not an efficient quantity of goods.

6 0
3 years ago
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