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Margaret [11]
2 years ago
6

Teachers at the kindergarten through high school level may deduct up to $225 of education supplies and materials cost each year

($400 married filing jointly).
a. True
b. False
Business
1 answer:
ikadub [295]2 years ago
4 0

The correct answer is False


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A net worth statement will be useful when you apply for a loan or credit.<br><br> True or false
DochEvi [55]
False should be the answer
7 0
3 years ago
Read 2 more answers
Charmagne, a mid-level manager at Propel Marketing Services, dreads December when performance reviews are due. She believes that
Over [174]

Answer:

(A) she's not consistent in her approach

Explanation:

Charmagne is not consistent in her aproach because she thinks that employees should do what is expected all year long but her evaluations are based on the most recent three month's performance. Her actions impact the overall system because she is only considering the most recent months and not the whole period and that can make a difference because taking just a small sample can make things look different from reality specially when talking about the performance of an employee. For example, a mistake that happened in the last three months can make a good employee look bad and several mistakes someone made in the months that are not considered can make a bad employee look good.

3 0
3 years ago
Tan Company acquires a new machine (ten-year property) on January 15, 2017, at a cost of $200,000. Tan also acquires another new
IgorLugansk [536]

Answer:

b. $25,716

Explanation:

The total cost recovery Deduction is:

10-year property  

MACRS cost recovery ($200,000×0.10)                          $20,000

7-year property  

MACRS cost recovery ($40,000×0.1429)                         $5,716

Total cost recovery                                                      $25,716

Therefore, The total deductions in calculating taxable income related to the machines for 2017 is $25,716.

4 0
3 years ago
The engineering team at Manuel’s Manufacturing Inc. is planning to purchase an enterprise resource planning (ERP) system. The so
AVprozaik [17]

Answer:

a.              VENDOR A

Year   Cashflow    [email protected]%      PV            Cummulative PV

               $                                 $                    $                    

  0        (380,000)        1       (380,000)      (380,000)  

   1        125,000       0.9091  113,638         (266,362)

   2       125,000       0.8264  103,300       (163,062)

   3        125,000      0.7513    93,913         (69,149)

   4        125,000      0.6830   85,375        16,226

   Discounted payback period

     = 3 years + $69,149/$85,375

     = 3.81 years

          Vendor B

Year   Cashflow    [email protected]%      PV            Cummulative PV

               $                                 $                    $                    

  0        (280,000)        1       (280,000)     (280,000)  

   1        95,000       0.9091  86,365         (193,635)

   2       95,000       0.8264  78,508        (115,127)

   3        95,000      0.7513    71,374         (43,753)

   4        95,000      0.6830   64,885        21,132

   Discounted payback period

     = 3 years + $43,753/$64,885

     = 3.67 years

The ERP should be purchased from vendor 2 because it has a shorter payback period.

Explanation:

In this question, we need to discount the cashflows for each project at 10% for 4 years. Then, we will calculate the cummulative present value by deducting the initial outlay from the cash inflows for each year until the initial outlay is fully recovered.

5 0
3 years ago
Smith Company had $1,200 in office supplies at the beginning of the fiscal year. At the end of the fiscal year, Smith Company di
myrzilka [38]

Answer:

supplies expense  800 debit

              supplies              800 credit

--to record year-end adjustment on supplies used--

Explanation:

we will adjust for the amount of supplies consumed over the period:

1,200 beginning - 400 ending = 800 consumed.

We are going to decrease the assets account supplies and recognize na expense account to represent the use of the supplies.

The assets will be credited as is decreasing and the expense debit to make debit = credit

3 0
3 years ago
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