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Allushta [10]
3 years ago
5

Compute the charitable contribution deduction (ignoring the percentage limitation) for each of the following C corporations.

Business
1 answer:
blagie [28]3 years ago
4 0

Answer:

a. Amber Corporation donated inventory of clothing (basis of $138,500, fair market value of $173,125) to a qualified charitable organization that operates homeless shelters.

  • charitable donations are valued at fair market value, in this case that equals $173,125

b. Brass Corporation donated stock held as an investment to Western College (a qualified organization). Brass acquired the stock three years ago for $70,800, and the fair market value on the date of the contribution is $113,280. Western College plans on selling the stock.

  • Again, we must use the fair market value to record donations, in this case = $113,280.

c. Ruby Corporation donates a sculpture held as an investment and worth $200,800 to a local museum (a qualified organization), which exhibits the sculpture. Ruby acquired the sculpture four years ago for $80,320.

  • use fair market once more, = $200,800

Explanation:

When you donate assets to qualifying charities, it is always better to do it by donating the itself, not selling it before and then giving the money. If you sell the asset, you will owe capital gains taxes (either long or short term). By donating the asset directly, you avoid capital gains taxes.

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A partner (owner) who invests money in a business does not take an active role in managing the operation, and is only subject to
Mashutka [201]

Answer:

Limited partner

Explanation:

A limited partner has limited liabilities and doesn't take an active role in managing the operation of the business. A limited partner is also known as a silent partner.

I hope my answer helps you

3 0
3 years ago
A co-worker who has to leave work early to deal with a personal matter asks that you complete some time-sensitive paperwork and
stich3 [128]

Answer:

intervene and tell the supervisor you had assumed responsibility for the paperwork and forgot

Explanation:

The golden rule is based on a principle of reciprocity and it states that one should treat others the way they want to be treated.

Different religions overtime have the same principle embedded in their doctrines.

In the given scenario where a coworker told you to compete some work for him before leaving and you failed to do so, when the coworker is being reprimanded you should take responsibility for the paperwork and say you forgot.

This is only fair on your coworker seeing it wasn't his fault the work was not done.

Also when you treat people fairly you can also be expected to be treated fairly too.

4 0
3 years ago
Leading others in cross-cultural situations is complicated. Which of the following is NOT one of the many reasons why such situa
Anastasy [175]

Leading others in cross-cultural situations is complicated. Styles of dress​ are NOT one of the many reasons why such situations can be complicated.

Cross-cultural communication is the practice of identifying both cultural groups' differences and commonalities in order to interact successfully within a particular situation.

You'll be able to express yourself with confidence and learn how to be patient with others who don't share your background if you develop cross-cultural communication skills. Additionally, it will provide you with a wonderful chance to interact with students from other countries and talk about your differences.

Learning the fundamentals of this sort of communication is the first step in overcoming obstacles and preventing misunderstandings in cross-cultural communication. These are openness, awareness, readiness, language, and humour.

Learn more about cross-cultural here:

brainly.com/question/14271958

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7 0
2 years ago
You have a credit card bill from ABC Credit for a total of $3,754. Please group the transactions within the appropriate T-Accoun
LuckyWell [14K]

Credit card bill from ABC credit have listed a number of expenses made, these needs to be posted according to the relevant accounting heads.

<h3 /><h3>What is Accounting?</h3>

Accounting is the calculation of cash, in other terms it is the study of debit and credit. The accounting teaches the treatment of different transactions, the transactions are divided in different heads, asset, expense, income, liability and capital.

T Accounts should be made as follows.

Assets

DR $1500 Computers

DR $650 Furniture

DR $334 Van Payment

Expenses

DR $420 Office Supplies

DR $250 Electric Company

DR $100 Water

DR $250 Office Supplies

Petty Expenses

DR $150 Steak House

DR $100 Fuel Stop

The expenses are distributed among the heads that they are relevant to, petty expenses only contains the payment for expenses that are immaterial in nature and amount, Asset account have the payments made for assets.

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6 0
1 year ago
Stacey is writing up rules for how to answer the phone at the new office. These rules are given
Zinaida [17]

Because there are writing  rules for how to answer the phone at the new office, these rule does fulfill the function of <u>Command</u> because enforce the staff to answer call in a certain way.

<h3>What are Henry Fayol's 5 function?</h3>

The function of management established by Henry Fayol's includes Planning, Organizing, Command, Coordination and Control.

Hence, since there are writing  rules for how to answer the phone at the new office, these rule does fulfill the function of Command because enforce the staff to answer call in a certain way.

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4 0
2 years ago
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