Answer:
The deductible expense = $570
Explanation:
First, the question is not complete, the complete question is as follows
Gwen, an independent consultant, traveled to New York City on a business trip. Gwen spent 4 days in business meetings and conferences and then spent 2 days sightseeing in the area. Gwen's plane fare for the trip was $250. Meals cost $160 per day. Hotels and other incidental expenses amounted to $250 per day.Gwen was not reimbursed by her employer for any expenses. Her AGI for the year is $50,000 and she itemizes but has no other miscellaneous itemized deductions. Gwen may deduct (after limitations).
Solution
How much is the plane fare $250
How much was spent on means $640 (160 a day x 4 days)
Subtract: 50% of meal costs ($320) 0.5 x 640
Hotel Expense was $1,000 ($250 x 4 days)
The total is $1,570
Subtract 2% of the AGI <u> $1,000</u> (0.02 x 50,000)
The final deductible expense $570
This means the amount that Gwen can deduct from the expenses for the trip after the limitations as calculated above is $570
Answer:
A) Power of Attorney
Explanation:
When a stockholder cannot attend a corporation's annual meeting, he/she can issue a power of attorney to another person to represent him/her at the meeting and vote on his/her behalf. In business, this is called a proxy, where the individual granted the power of attorney acts as the stockholder's proxy.
Not all resources of a given type are identical: Customers differ in size and profitability, staff differ in experience, and so on. This chapter will show you the following:
how to assess the quality of your resources
how resources bring with them potential access to others
how you can improve resource quality
how to upgrade the quality of an entire strategic architecture
6.1 Assessing the Quality of Resources
Few resources are as uniform as cash: Every dollar bill is the same as all the others. Most resources, however, vary in important ways:
Customers may be larger or smaller, highly profitable or less so.
Products may appeal to many customers or few, and satisfy some, many, or all of their needs.
Staff may have more experience or less, and cost you high salaries or low.
A single resource may even carry several characteristics that influence how the resource stock as a whole affects other parts of the system. Individual bank customers, for example, feature different balances in their accounts, different numbers of products they use from the bank, different levels of risk of defaulting on loans, and so on. A resource attribute is a characteristic that varies between different items in a single pool of resources. These differences within each type of resource will themselves change through time. For example, if we lose our most profitable customers our operating profits will fall faster than if we lose only average customers.
Answer:
$6,500
Explanation:
Calculation for the amount of Jazz's dividends received deduction on the dividend it received from Williams Corp
Based on the information given we were told that the Jazz's Corporation owns part of Williams Corp. stock which is 50% in which Williams Corp. stock distributed the amount of $10,000 dividend to Jazz Corporation which means that Jazz Corporation share in Williams stock is higher than 20% and as well lower than 80% based on this Jazz Corp.'s will be entitled to dividend received deduction of 65% calculated as:
Dividends received deduction =$10,000 × 65%
Dividends received deduction=$6,500
Therefore the amount of Jazz's dividends received deduction on the dividend it received from Williams Corp will be $6,500
Answer:
d. $(6,642)
Explanation:
The present value is the sum of after tax cash flows.
Present value can be calculated using a financial calculator
Cash flow in year 0 = $-81,000
Cash flow each year in year 1 to 3 = $27,000 + $2,900 = $29,900
I = 10%
Present value = $(6,642)
To find the PV using a financial calacutor:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
I hope my answer helps you
