1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
djyliett [7]
3 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:
Alborosie3 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.

You might be interested in
If profit is more than $10000 when fixed costs are $5000 and the price when producing 1000 units is $75, then variable cost is?
stira [4]
75/1000= $0.075 per unit or variable
3 0
3 years ago
The Overland Company is preparing its cash budget for the month of June. The following information is available concerning its a
Alex777 [14]

Answer:

total estimated cash collections = $300,050

Explanation:

estimated collections during June:

collections of credit sales from May = $257,000 x 65% = $167,050

collections from credit sales before May = $50,000

collections from credit sales during June = $332,000 x 25% = $83,000

total estimated cash collections = $300,050

the write offs and the bad debt provisions are not included in this calculation.

8 0
3 years ago
A society can produce two goods: donuts and beer. The society's production possibility frontier is negatively sloped and "bowed
monitta

Answer:

c. increases

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

The production possibility frontier is graph that shows the two combinations of goods that an economy can produce given its resocurces.

As the production of donuts increases, the amount of beers that would be forgone in order to increase production of donuts rises.

I hope my answer helps you

5 0
4 years ago
Which of the following tools is an example of monetary policy?
loris [4]

Answer:

Explanation:

B C and D have become tools that have been tried.

Deficit spending is a budget/government policy. Its use should be very limited.

Same with Increased Government Spending. FDR was the master at controlled government spending.

Reducing income taxes is another government policy.

So only A is an example of monetary policy. This is a regulation imposed on the Banks by the Federal Reserve.

4 0
3 years ago
Read 2 more answers
Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plot
olya-2409 [2.1K]

Answer:

Political and Legal

Explanation:

Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plotting to raise and fix prices of vitamins used in virtually every home in the U.S. This is an example of how <u>political and legal</u> forces affect the marketing environment.

Business organisations operate within a political system and legal framework. Political factors determine economic policies like taxation and regulations. Business decisions are subject to, and are affected by political and legal factors.

Governments formulate a series of legislations to monitor business activities and protect consumer and social interests.

Such laws would either create new opportunities or threats for the businesses in existence.

In the Scenario above Hoffman-LaRoche and BASF AG must have violated regulations that protect consumer interests put in place by the government by wanting consumers to pay too high for such necessities as vitamins and huge fines have been imposed on them.

7 0
3 years ago
Other questions:
  • Mooradian Corporation’s free cash flow during the just-ended year (t = 0) was $250 million, and its FCF is expected to grow at a
    10·1 answer
  • Imagine that you are the head of recruiting for a major airline. You are charged with replacing several department-head position
    8·1 answer
  • Exercise 16-12 Determining the payback period LO 16-4 Fanning Airline Company is considering expanding its territory. The compan
    5·1 answer
  • In what section of the statement of cash flows will the issuance of bonds payable to acquire a building be reported?
    7·1 answer
  • If a physical count of inventory indicates that the Merchandise Inventory account is​ overstated, an adjusting entry is required
    14·1 answer
  • The Supplies account balance on February 1, 2016 was $2,000. During the month of February Bravo purchased $12,000 of supplies fo
    8·1 answer
  • Explain why a single commercial bank can safely lend only an amount equal to its excess reserves but the commercial banking syst
    6·1 answer
  • g Refer to the financial statements of Flathead Lake Manufacturing Company. The firm's inventory turnover ratio is _________. (P
    7·1 answer
  • Commodity and derivative markets: ____________.a. are additional sources of financing for corporate projects. b. enable the fina
    6·1 answer
  • you normally stay at home on wednesday nights and study. however, next wednesday night, your best friend is having a big birthda
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!