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sergiy2304 [10]
3 years ago
12

Kelly is a self employed tax attorney whose practice primarily involves tax planning. During the year she attended a 3-day semin

ar related to changes related to tax law. She incurred the following expenses: Lodging - $400 Meals - $95 Registration - $350 Transportation - $150 How much can Kelly deduct
Business
1 answer:
Helen [10]3 years ago
8 0

Answer: $947.50

Explanation:

The amount that Kelly can deduct will be calculated as:

Lodging = $400

Add: Meals at 50% = $95/2 = $47.50

Add: Registration = $350

Add: Transportation = $150

Total deductions = $947.50

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Suppose that the federal budget deficit increases. the increase in government borrowing will cause interest rates to ▼ rise fall
yan [13]

Answer:

Rise; More attractive; More; Less; Rise

Explanation:

Suppose that the federal budget deficit increases.

So, there is a need to borrow funds and this will increase the government borrowings. The higher government borrowings will lead to cause the interest rate to rise.

In an open economy, the buyers in the foreign countries are buying more U.S bonds as they will receive higher rate of return from investing in bonds. Hence, the U.S bonds are becoming more attractive to the foreign buyers because of the higher interest rate.

This will reduce the value of U.S exports, hence, the trade deficit (Value of imports - Value of exports) will rise further.

6 0
3 years ago
Wickland company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $108,000.
Murrr4er [49]
The machines' second-year depreciation under the straight-line method is $26,500.
To determine the depreciation amount using the straight-line method, we have to consider the machine's useful life only as the depreciation basis. The formula used for the calculation is: (Asset value-salvage value)/asset's useful life.
5 0
3 years ago
Historically, 74% of credit card users carry a balance from month-to-month. A certain credit card company would like to study th
Hoochie [10]

Answer:

The probability more than 72% of the cardholders are carrying a balance is 0.2946

Explanation:

Test statistic (z) = (p' - p) ÷ sqrt[p(1-p) ÷ n]

p' is the sample proportion = 0.72

p is the population proportion = 0.74

n is the number of cardholders sampled = 140

z = (0.72 - 0.74) ÷ sqrt[0.74(1-0.74) ÷ 140] = -0.02 ÷ 0.037 = -0.54

The cumulative area of the test statistic is the probability that less than 72% of the cardholders are carrying a balance. The probability is 0.7054.

Probability (more than 72% of the cardholders are carrying a balance) = 1 - 0.7054 = 0.2946

3 0
4 years ago
On January 1, 2018, Moore, a fast-food company, had a balance in its Cash account of $54,000. During the 2018 accounting period,
7nadin3 [17]

Answer:

Net cash flow as at the year end=          $22,100

Explanation:

The statement of cash flows for Moore shall be calculated as follows:

Cash balance as at January 1, 2018=     $54,000

Cash inflow from operating activities=  $35,600

Cash outflow from investing activities= ($43,000)

Cash outflow from financing activities= ($24,500)

Net cash flow as at the year end=          $22,100

4 0
4 years ago
What do salary caps used by sports leagues limit? the amount the league can pay a single payer each year the total amount the le
nlexa [21]

Answer:

the total salaries a league can pay each year

Explanation:

Salary caps used in the sports league by the league organizations basically attempt to limit the salaries of sports persons as the cap is on each league.

This basically helps the league for tax savings as there is limited liability on the league organizers for payment of salary and tax thereon.

This helps in controlling over payment of salary and extra benefits in the form of salary.

Thus correct option is it is cap on payment of salary.

4 0
4 years ago
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