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
marta [7]
2 years ago
9

The Tax Cuts and Jobs Act suspends all miscellaneous itemized deductions that are subject to the 2% floor under present law. For

which of the following itemized deductions does California tax law conform to the new Federal tax provisions for tax year 2019?A. Tax preparation expensesB. Unreimbursed business expensesC. Investment expensesD. Medical expenses
Business
1 answer:
olga55 [171]2 years ago
8 0

Answer:

D. Medical expenses

Explanation:

The California tax law follows the new federal tax provision for the year 2018 for medical expenses. Only part of the medical expenses can be deducted which is allowed as per federal tax law, that is, 7.5% of the adjusted gross income.

You might be interested in
During the Asian financial crisis, the leading financial powers seemingly either declined to take part in the rescue operations,
igor_vitrenko [27]

Answer:

The correct answer is ASEAN+3.

Explanation:

ASEAN + 3 is the association of Southeast Asian nations, which was created in 1967 by Thailand, Indonesia, the Philippines, Singapore and Malaysia. Currently it is made up of 10 countries in Southeast Asia, and its general objective is to increase the economy of these countries and promote stability in the region. The +3 is to recognize the accession of three countries that do not belong to this region, which are: Japan, China and South Korea.

8 0
3 years ago
In the absence of government regulation or private negotiation, firms will pollute less than the economically optimal amount.
juin [17]
Wrong in absence of gov. there will be no laws to abide so essentially they can do as they please.<span />
7 0
3 years ago
The four major expenditure categories of GDP are: Group of answer choices consumption, government purchases, taxes, and investme
Nimfa-mama [501]

Answer:

consumption, investment, government purchases, and net exports.

Explanation:

The Gross Domestic Products (GDP) is the measure of the total market value of all finished goods and services made within a country during a specific period.

Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country. The Gross Domestic Products (GDP) of a country's economy gives an insight to it's social well-being.

Basically, the four major expenditure categories of GDP are consumption, investment, government purchases, and net exports.

4 0
2 years ago
Beginning inventory $ 34,000 Inventory purchases (on account) 164,000 Freight charges on purchases (paid in cash) 19,000 Invento
sukhopar [10]

Answer:

<u>Journal entries - Perpetual inventory system</u>

<em>Inventory purchases (on account) 164,000</em>

Inventory $ 164000(debit)

Trade Payables $ 164000 (credit)

<em>Freight charges on purchases (paid in cash) 19,000</em>

Freight Charges $ 19000 (debit)

Bank $19000 (credit)

*****Freight Charges forms part of cost of Inventory (IAS 2) therefore write off freight cost to Inventory Account****

Inventory $19000 (debit)

Freight Charges $ 19000 (credit)

<em>Inventory returned to suppliers (for credit) 21,000</em>

Trade Payable $ 21000 (debit)

Inventory $21000(credit)

<em>Sales (on account) 259,000</em>,

Trade Receivables $ 259000 (debit)

Revenue $259000(credit)

<em>Cost of inventory sold 157,000</em>

Cost of Sales $157000 (debit)

Inventory $157000 (credit)

<u>Journal entries - Periodic inventory system</u>

<em>Inventory purchases (on account) 164,000</em>

Inventory $ 164000(debit)

Trade Payables $ 164000 (credit)

<em>Freight charges on purchases (paid in cash) 19,000</em>

Freight Charges $ 19000 (debit)

Bank $19000 (credit)

*****Freight Charges forms part of cost of Inventory (IAS 2) therefore write off freight cost to Inventory Account****

Inventory $19000 (debit)

Freight Charges $ 19000 (credit)

<em>Inventory returned to suppliers (for credit) 21,000</em>

Trade Payable $ 21000 (debit)

Inventory $21000(credit)

<em>Sales (on account) 259,000</em>,

Trade Receivables $ 259000 (debit)

Revenue $259000(credit)

<em>Cost of inventory sold 157,000</em>

Cost of Sales $157000 (debit)

Inventory $157000 (credit)

Explanation:

<em>Inventory purchases (on account) 164,000</em>

Recognise an Asset - Inventory and a liability - Account payable

<em>Freight charges on purchases (paid in cash) 19,000</em>

Recognise an expense - Freight Charges and de-recognise asset - Bank

*****Freight Charges forms part of cost of Inventory (IAS 2) therefore write off freight cost to Inventory Account****

Derecognise expense- Freight and recognise an asset - Inventory

<em>Inventory returned to suppliers (for credit) 21,000</em>

De-recognise Asset - Inventory and De-recognise Liability - Account Payable

<em>Sales (on account) 259,000</em>,

Recognise Asset - Trade Receivable and Recognise Revenue

<em>Cost of inventory sold 157,000</em>

Recognise expense - Cost of Sale in Profit and Loss and De-recognise Asset- Inventory

6 0
3 years ago
Choose the statement that is correct. A. The MC curve intersects the AFC​, AVC​, and ATC curves at their minimums. B. Initially
shepuryov [24]

Answer: C. The ATC curve eventually slopes upward because average variable cost eventually increases

Explanation:

The Law of Diminishing Marginal Returns causes the Average Total Cost curve to eventually slope upwards because the Average Variable Cost will increase.

Why?

At first, with production increasing, a firm will be very efficient at producing a certain good thereby driving the cost down per unit. As time goes on however, the law of Diminishing Marginal Returns comes into play as more is invested into the business. The cost per unit will therefore rise which will lead to the ATC curve going upwards.

I have included a simple graph to illustrate.

If you need any clarification do react or comment.

3 0
3 years ago
Other questions:
  • Assume a steel company is willing to sell its alloy beams for $400 a piece and produce 100000 units. At a price of 449 they are
    11·1 answer
  • Ritufa Foods, a food processing company, has collaborated with a nonprofit organization in an initiative to fund salad bars in s
    9·1 answer
  • Karen received 105 total utils from the first 4 sodas she drank. If the marginal utilities of the first, second, and fourth soda
    8·1 answer
  • 1. Who benefits when a customer purchases strawberries from a store?
    10·1 answer
  • Choose some specific types of changes you would like to see happen in groups or organizations with which you are familiar. Imagi
    12·1 answer
  • All countries have what type of economy
    12·1 answer
  • Suppose Community Bank offers to lend you $10,000 for one year at a nominal annual rate of 6.50%, but you must make interest pay
    6·1 answer
  • Which of the following is an estimating pitfall? Select one: a. Misinterpretation of the statement of work b. Inaccurate work br
    11·1 answer
  • Roger's Meat Market is a chain of retail stores that limits its sales to fresh-cut meats. The stores have been very profitable i
    6·1 answer
  • Most Company has an opportunity to invest in one of two new projects. Project Y requires a $310,000 investment for new machinery
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!