1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alexxx [7]
2 years ago
11

In 2019, Joan accepted and received a $10,000 award for outstanding civic achievement. Joan was selected without any action on h

er part, and no future services are expected of her as a condition of receiving the award. What amount should Joan include in her 2019 gross income in connection with this award?A. $0B. $4000C. $5000D. $10000
Business
1 answer:
Daniel [21]2 years ago
5 0

Answer:

A) $0

Explanation:

If the award was unsolicited and given to Joan in recognition for her accomplishments in scientific, educational, literary, religious, artistic, or civic fields, then the award is not taxed.

The unsolicited part is the key here, since most awards are given to candidates that have been previously been nominated by someone, e.g. Nobel prizes are only given to nominated candidates and the winners must pay income taxes.

You might be interested in
You just purchased $218,000 of equipment that is classified as five-year MACRS property. The MACRS rates are .2, .32, .192, .115
ryzh [129]

Answer:

$62,784

Explanation:

With MACRS depreciation , annual depreciation amount is calculated by multiplying each year' s rate by the original cost of the equipment.

Write down  depreciation schedule as follows;

<u>Year </u>              <u>Depreciation   </u>            <u>Book value </u>

Yr 1            0.2* 218000= 43600         218000 - 43600 = 174400

Yr2           0.32* 218000 = 69760           174400 - 69760 =104640

Yr3             0.192* 218000 = 41856           104640 - 41856= 62784

Therefore, at the end of 3 years, the book value of the equipment will be $62,784

5 0
3 years ago
You have $7,863 you want to invest for the next 34 years. You are offered an investment plan that will pay you 11.8 percent per
Marianna [84]

Answer:

$1731692.97

Explanation:

FV (end of 34 years) = (7863*(1.118)^9) * (1.192)^25 = $1731692.97

3 0
2 years ago
Anson Jackson Court Company (AJC) The Anson Jackson Court Company (AJC) currently has $200,000 market value (and book value) of
ddd [48]

Answer:

7.38%

Explanation:

Calculation to determine what would be AJC's new WACC and total value

Using this formula

WACC and total value=(Equity)(Required rate of return on equity)+(Debt)(1-Tax rate)(Required rate of return on debt)

Let plug in the formula

WACC and total value=(0.6)(0.095)+(0.4)(1-0.4)(0.07)

WACC and total value=0.057+0.0168

WACC and total value=0.0738*100

WACC and total value=7.38%

Therefore would be AJC's new WACC and total value is 7.38%

5 0
2 years ago
XYZ Company produces a significant daily amount of electronic waste. The company disposes the waste into the ocean despite stric
natima [27]

Answer:

Legal responsibility

Explanation:

Since there have been regulations put in place by the government, it is thereforre a legally binding agreement between XYZ company and any other companies that does same as XYZ company.

The failure of XYZ company to honour the set regulations is a breach in its legal responsibilty alongside its corporate social responsibilty as well and it can be taken up by the government by either charging the XYZ company to court or revoking their operating license.

Cheers.

6 0
3 years ago
which question or questions should you ask yourself when determining how much money you can afford to spend on a mortgage
Sati [7]
What is my income. then subtract
what are my ordinary monthly expenses.
what is my weekly allowance.
what are my incidentals
what are my insurance and taxes going to be.
are these included in the mortgage.
allow 10% for tithing
clothing costs
medical copays.
do you get paid for sick days.
3 0
3 years ago
Other questions:
  • Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at the rate of 42 cents per mil
    7·1 answer
  • Overspending can keep you from achieving your goals <br> true or false
    15·2 answers
  • All citizens in America have _______ to form a group and push for what they want in the law. Additionally, the architects of our
    9·2 answers
  • Sales for January are budgeted at 50,000 units, and the company expects sales to increase 4% each month. How many units will nee
    7·1 answer
  • Nathan buys a new microwave for $200. The microwave’s label bears a disclaimer that the manufacturer is not liable for consequen
    8·1 answer
  • Suppose Ivy invests $5,000 in her jewelry stand at the local shopping mall and her investment earns her $550. What is Ivy's retu
    8·1 answer
  • Jane receives 16 cents for every unit produced. jane produces 3,512 pieces in a 43-hour workweek. for overtime, jane is paid a s
    7·1 answer
  • Hillary enters into a shipment contract with a dress manufacturer for fifty red dresses. The dress manufacturer sends fifty blue
    11·1 answer
  • . Which part of the online job application was easiest for you to complete? Which section was the most difficult? Give at least
    13·1 answer
  • A trading company acts like a ______, taking on much of the responsibility of finding markets while facilitating all marketing a
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!