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12345 [234]
2 years ago
15

Michelle operates several food trucks. Indicate the amount (if any) that she can deduct as an ordinary and necessary business de

duction in each of the following situations.
a. Michelle moves her food truck between various locations on a daily rotation. Last week, Michelle was stopped for speeding. She paid a fine of $215 for speeding plus $170 for legal advice in connection with the ticket.
b. Michelle paid $865 to reserve a parking place for her food truck for the fall football season outside the local football arena. Michelle also paid $210 for tickets to a game for her children.
c. Michelle provided a candidate with free advertising painted on her truck during the candidate's campaign for city council. Michelle paid $960 to have the ad prepared and an additional $660 to have the ad removed from the truck after the candidate lost the election.
Business
1 answer:
Xelga [282]2 years ago
3 0

Answer:

a. Michelle moves her food truck between various locations on a daily rotation. Last week, Michelle was stopped for speeding. She paid a fine of $215 for speeding plus $170 for legal advice in connection with the ticket.

  • Speeding tickets and fines cannot be deducted as business expenses. But Michelle can deduct all legal expenses.

b. Michelle paid $865 to reserve a parking place for her food truck for the fall football season outside the local football arena. Michelle also paid $210 for tickets to a game for her children.

  • Michelle can deduct the $865 paid for the space outside the football field, but she cannot deduct the tickets (personal expenses).

c. Michelle provided a candidate with free advertising painted on her truck during the candidate's campaign for city council. Michelle paid $960 to have the ad prepared and an additional $660 to have the ad removed from the truck after the candidate lost the election.

  • Political donations are not deductible as business expenses.

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Julio purchased a stock one year ago for $27. The stock is now worth $32, and the total return to Julio for owning the stock was
alukav5142 [94]

Answer:

$5

Explanation:

Data provided are as follows

Purchase price of stock one year ago = $27

Now stock price= $32

Total return percentage = 37%

So, The computation of the dollar amount of dividend is:

= Purchase price of stock one year ago × Total return percentage - difference in stock price

= $27 × 37% - $5

= $10 - $5

= $5

The difference would be

= $32 - $27

= $5

3 0
3 years ago
Knowing the uses of Word can help people make decisions on how best to navigate the application.
andrezito [222]

Answer:

articles

reports

books

brochures

Explanation:

A word is a processing software in which we can make the best use to prepare articles, reports, books or booklets, brochuers, etc. It is best for editing the documents

There are various features in a word through we can make these things as discussed above

For making the spreadsheet we use the excel and for making the presentations we use power point

Therefore these two would not come under the word processor

Hence, the first four options are correct

5 0
3 years ago
Read 2 more answers
International businesses with markets and production facilities in other countries, or that use materials from different countri
lilavasa [31]

Answer: True

Explanation:

International businesses that has its markets and its production facilities in other countries, or a business that uses resources from other countries should understand the exchange rate system and how it works.

Different policies are pursued by the government and there's no universal exchange rate system, therefore it's vital for businesses to look at the foreign markets and their currency conversion.

7 0
3 years ago
Larry and Susan work in an office near 2 Live Stew and Stew-topia, specialty stew restaurants on the same block. Larry notices t
denis-greek [22]

Answer: B. to prove Stew-topia engaged in predatory pricing, you would need to prove that Stewtopia priced stew below average variable cost with the specific intention of driving 2 Live Stew out of business

Explanation:

Predatory pricing is the pricing of goods in such a way that it is so low that it is even below average variable cost. The logic being that in the Shortrun, if a firm cannot cover it's variable cost, it would have to shutdown.

Larry would therefore be correct in saying that to prove Stew-topia engaged in predatory pricing, it would need to proven that Stewtopia priced stew below average variable cost with the specific intention of driving 2 Live Stew out of business.

8 0
2 years ago
You know the _____ method of budgeting is being employed after hearing an experienced marketing department manager respond to a
Marianna [84]

Answer:

Arbitrary allocation.

Explanation:

Arbitrary allocation is a method where costs budgeted are not based on any precise measurement,hence accurate costs could not be arrived at.

This approach to budgeting breeds inefficiencies as the accurate budgeting is expected to lead to accurate costing of products as well as pricing.

All in all,the true profitability of a business cannot be ascertained.

Finally,the organization adopting this type of approach needs to change to other accurate methods of budgeting such incremental or rolling budgeting.

3 0
3 years ago
Read 2 more answers
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