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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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When retained earnings are not enough to meet their long-term funding needs, businesses may be able to raise funds by?
sergij07 [2.7K]

When retained earnings are not enough to meet their long-term funding needs, businesses may be able to raise funds by <u>selling common stock</u>. Long-term funding can be defined as any financial tool with maturity going beyond one year (such as bank loans, bonds, leasing and other forms of debt finance), and public and private equity instruments.

<h3>What is a retained earnings?</h3>

Retained earnings are the total of profit an establishment has left over after paying all its direct costs, indirect costs, income taxes and its dividends to shareholders.

Therefore, the correct answer is as given above

learn more about retained earnings: brainly.com/question/25631040

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8 0
2 years ago
At the beginning of its fiscal year, the Town of Harmon estimates that its revenues for street maintenance activities are $100,0
KATRIN_1 [288]

Answer:

The amount that the Town of Harmon currently have available to spend for street maintenance supplies is $20,000.

Explanation:

From the question, we can obtain the following:

Amount appropriated for street maintenance supplies = $90,000

Outstanding encumbrances for street maintenance supplies = $40,000

Expenditures incurred for street maintenance supplies = $30,000

Therefore, we have:

Amount currently available to spend for street maintenance supplies = Amount appropriated for street maintenance supplies - Outstanding encumbrances for street maintenance supplies - Expenditures incurred for street maintenance supplies = $90,000 - $40,000 - $30,000 = $20,000

Therefore, the amount that the Town of Harmon currently have available to spend for street maintenance supplies is $20,000.

8 0
3 years ago
A for-profit institution that works with the general public to open and manage savings accounts is known as a(n) _____. A. comme
Svetradugi [14.3K]

A for-profit institution that works with the general public to open and manage savings accounts is known as a(n) savings bank.

Answer: C. savings bank

4 0
3 years ago
Pakistan’s GDP in 2010, using the official exchange rate on 1/1/2010, is equal to $300 billion USD ($300,000,000,000). When 2010
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Answer:

Undervalued

Explanation:

The PPP exchange rate is the implicit exchange rate, so that everywhere, one dollar has the same purchasing power. In general, this exchange rate is different from the exchange rate on the market.

Because the same nominal GDP translates to a higher real GDP by using the PPP exchange rate, one Pakistan Rupee must be valued more in terms of U.S. dollars than in contexts of the market exchange rate under the PPP exchange rate. The Pakistan Rupee is therefore worth less than its true value in the economy, i.e., undervalued.

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4 years ago
Straying from the tactics of counterparts in the region, the Tupamaros opted to battle urban centers instead of rural regions, a
IrinaVladis [17]

Answer:

Carlos Marighella

Explanation:

Carlos Marighella is a Brazilian who is considered to be the leading theoretician of urban terrorism, Marighella's theories on urban guerrilla warfare considered cities as a key point of support for the peasant's armed rebellion. He was an advocate of urban guerrilla warfare as means to assist a larger scale rural uprising, the Tupamaros modelled their operational guidelines on this principle and focused nearly all their attacks and attention on the capital of Uruguay which is an urban settlement with some vague commitments to support rural movements and with an intention of using urban insurgency to spank a more general rural setting.

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3 years ago
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