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emmasim [6.3K]
3 years ago
7

Jessica is a U.S. Army Reservist and in 2019 traveled 130 miles each way to serve duty at a local military installation. She was

required to report four times in 2019. Her normal route from home to the base included a $1.75 toll each way. Jessica's for AGI deduction for these costs is:________.
a. $0.
b. $14.00.
c. $122.00.
d. $566.80.
e. $580.80.
Business
1 answer:
faust18 [17]3 years ago
4 0

Answer:

Jessica's for AGI deduction for these costs is:

b. $14.00.

Explanation:

The aggregate gross income (AGI) can be defined as the total amount of income that an individual earns and is used in calculating the amount of income tax that an individual is liable to pay. The AGI can be expressed as follows;

AGI=T×N×W

where;

AGI=aggregate gross income

T=toll amount per way

N=number of times she reported

W=number of way

In our case;

AGI=unknown, to be determined

T=$1.75

N=4

W=2

Replacing;

AGI=(1.75×4×2)=$14.00

Jessica's for AGI deduction for these costs is:

b. $14.00.

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Answer:

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c. Fixed overhead budget variance = Budgeted fixed overhead - Actual fixed overhead

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3 years ago
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The "decision model that computes the difference between the present value of the investment's net cash inflows, using a desired
DIA [1.3K]

Answer:

C) Net present value

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The average rate of return shows a ratio between the average net profit and the average investment.

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Answer:

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Explanation:

Goodwill refers to excess of purchase consideration over net assets value of an entity in case of acquisition.

Goodwill is an intangible asset which is recorded as follows on the date of acquisition.

Journal entry for Goodwill is;

Goodwill A/C                             Dr

Net Assets Acquired                 Dr.

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In the given case, building was acquired for $15,000,000 against it's fair value which was only $7,000,000. The excess price paid for such acquisition represents goodwill which shall be recorded as;

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5 0
3 years ago
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Answer:

$60,000

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For 2012

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Therefore the Book Value at 12/31/2012 is $60,000

6 0
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