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
Irina-Kira [14]
3 years ago
10

Under the deemed substantiation method of accounting for expenses, what is the maximum amount taxpayers are allowed as a deducti

on without being required to substantiate the amount of the expenses? a.The per diem rate established by the state in which they live. b.The appropriate Federal per diem amount. c.All expenses up to $25 per day. d.$75 per day. e.None of these choices are correct.
Business
1 answer:
jek_recluse [69]3 years ago
6 0

Answer:

b. The appropriate Federal per diem amount.

Explanation:

These special diem per rates for taxpayers would be used in substantiating the ordinary amount and important business expenses that are expense at the time when travelling to be done especially the special transportation industry meal and rates of incidental expenses, the deduction with respect to the incidental expenses, and the rates & high-cost localities list for the motive of the high-low substantiation method.

You might be interested in
Most home insurance policies cover jewelry for $1,000 and silverware for $2,500 unless items are covered with additional insuran
raketka [301]

Answer:

$8,200

Explanation:

The amount of asset that is not covered under the insurance policy would not be claimable so if the amount of insurance policy that covers jewelry of worth $1000 and silverware of worth $2,500 then the total claimable insurance would be $3500 ($1000 for both Jewelry and $2500 for silverware).

The jewelry stolen is worth $5200 and out of it $4200 is not claimable because $1000 of this is covered under the insurance policy. Likewise the silverware worth of $6500 has been stolen of which $4000 is not claimable because $2500 of this is covered under the insurance policy.

The claim that would be not covered under the insurance policy would be:

Non claimable insurance amount = ($5,200 - $1,000) + ($6,500 - $2,500)

= $8,200

7 0
2 years ago
if i am trying to collect on a debt, can i post requests on social media for information on how to contact the debtor?
Makovka662 [10]

Answer:

i guess you can but don't post any valid information which might expose credit cards or so forth

8 0
2 years ago
John Williams, manager of Phoenix Entertainment, wants to compute the variable overhead efficiency variance for the year. He has
jenyasd209 [6]

Answer:

$10,125 Favorable

Actual quantity of the cost-allocation base used - Actual quantity of the cost-allocation base that should have been used to produce the actual output) × Budgeted variable overhead cost per unit of the cost-allocation base

Explanation:

Variable overhead spending variance = Actual Spending - budgeted Spending based on actual quantity

Variable overhead spending variance = (Actual Input x Actual rate) - ( Actual input x Budgeted rate)

Variable overhead spending variance = (10,125 x $29) - ( 10,125 x $30)

Variable overhead spending variance = $293,625 - $303,750

Variable overhead spending variance = $10,125 Favorable

Variable overhead spending variance is

Actual quantity of the cost-allocation base used - Actual quantity of the cost-allocation base that should have been used to produce the actual output) × Budgeted variable overhead cost per unit of the cost-allocation base

4 0
3 years ago
A listing of all possible returns on an investment, with a chance of occurrence assigned to each return is known as _____.
Anna35 [415]
Answer: Probability Distribution
4 0
3 years ago
Gail K. Company manufactures waterproof cell phone covers. During the current month, the purchasing manager purchased $26,700 of
Marianna [84]

Answer:

D : $88,800

Explanation:

<u>Cost of goods manufactured :</u>

Direct Material used in production                         $ 21,300

Indirect Material used in production                       $  3,700

Direct Labour                                                           $ 34,100

Direct Labour                                                           $  5,900

Manufacturing overhead                                       <u> $ 16,600 </u>

Total Manufacturing cost                                        $ 75100

Add:Beginning Work in process inventory            $7,200

Less: Ending Work in process inventory                <u>$ 0       </u>

Cost of Goods Manufactured                                 <u>$88,800</u>

6 0
3 years ago
Other questions:
  • SungSam Enterprises reports the following data: Sales $340,000 Variable costs 180,000 Contribution margin $160,000 Fixed costs 8
    5·1 answer
  • A client presents to the emergency department with severe epistaxis. Which client position is most beneficial?
    8·2 answers
  • An oligopolistic market structure is distinguished by several characteristics, one of which is either homogeneous or differentia
    9·1 answer
  • The production budget shows expected unit sales are 100,000. The required production units are 104,000. What are the beginning a
    11·1 answer
  • Brooks Company received proceeds of $188500 on 10-year, 8% bonds issued on January 1, 2018. The bonds had a face value of $20000
    8·1 answer
  • During the current year, Robby’s Camera Shop had sales revenue of $169,000, of which $68,000 was on credit. At the start of the
    7·1 answer
  • The following totals for the month of June were taken from the payroll register of Ford Company. Salaries and wages $40,000 FICA
    15·1 answer
  • . Sam Rothstein wants to borrow $15,500 to be repaid in quarterly installments over five years at 16% compounded quarterly. How
    5·1 answer
  • The best definition of a financial restatement is:________.
    7·1 answer
  • References are typically included on a résumé. please select the best answer from the choices provided t f
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!