Answer:
The correct answer is $20,000.
Explanation:
According to the scenario, the given data are as follows:
Gross income = $180,000
Business expense = $160,000
Mortgage interest and property taxes expense = $14,000
Other home office expense = $9,000
So, we can calculate the total allowable home office deduction by using following method:
As we know, first we have to deduct the business expense from the gross income and than if there any net income left than other expense can be deducted.
Hence,
= Gross income - Business expense
= $180,000 - $160,000
= $20,000
Answer: B. Pell: No; Astor: Yes.
Explanation: According to Termination of agency law:
-An agent is entitled to renounce his power by refusing to act or by notifying the principal that he will not act for the principal.
The agent can terminate the agency first in absence of contractual agreement relating to the provision of duration of contract.
Answer:
b. Decrease in net income; no effect on cash flow from operating activities
Explanation:
The adjusting entry is shown below:
Salaries expense A/c Dr $4,500
To Salary payable A/c Dr $4,500
(Being the accrued salary is recorded)
As we can see that the salaries expense is an expense account due to which the net income got decreased plus the salary payable has come under current liabilities of the balance sheet so there is no impact on the cash flow from operating activities
Answer:
Planning Departments
Explanation:
Throughout California, there are agencies within the city/county government whose employees include professionally trained planners. Noticed that planning department employees provide technical services (rather than just recommendations, as planning commissioners do) for the planning commission, elected officials, and the citizens.
