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2 years ago

Which one of the following types of charitable contributions is NOT deductible for federal income tax purposes?

Business

1 answer:

Fofino [41]2 years ago

3 0

Answer: B.

Explanation: Contributions to individuals, foreign governments, foreign charities, and certain private foundations similarly are not deductible.

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Which of the following is a non-depository intermediary?

Rina8888 [55]

Answer:

Explanation:

i did it

8 0

2 years ago

A(n) ________ veto allows the governor to cross out budget lines in the legislature-approved budget, while signing the remainder

Cerrena [4.2K]

Line item veto, its the power to strike out individual items in the state budget

4 0

2 years ago

Read 2 more answers

On January 1, 2019, Cullumber Corporation acquired machinery at a cost of $1650000. Cullumber adopted the straight-line method o

Tatiana [17]

Answer:

Explanation:

Since in the given situation there is a depreciation method change i.e. from the straight-line method to double-declining method so there would be no impact restrospectively.

Hence, there would be no cumulative impact as it creates the impact prospectively

So the impact would be zero

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2 years ago

Round Hammer is comparing two different capital structures: An all-equity plan (Plan l) and a levered plan (Plan Il). Under Plan

Dominik [7]

Explanation:

A). The computation of price per share is shown below:-

Debt outstanding ÷ (Stock outstanding of Plan 1 - Stock outstanding of

Plan 2)

= $1,730,000 ÷ (205,000 - 125,000)

= $21.63 per share

B a.) Under equity plan the value is

= Debt outstanding × Stock outstanding of Plan 1

= $21.63 × 205,000 shares

= $4,433,125

B b.) under the levered plan the value is

Price per share × Stock outstanding of Plan 2 + Debt outstanding

= $21.63 × 125,000 shares + $1,730,000

= $2,703,125 + $1,730,000

= $4,433,125

6 0

3 years ago

Builtrite had sales of $700,000 and cogs of $280,000. in addition, operating expenses were calculated at 25% of sales. builtrite

Leni [432]

This is the presentation of the income statement of Builtrite in order to compute the net income:

Sales $700,000

Less: COGS $280,000

Gross Profit $420,000

Less: Operating expenses ($700,000 x 25%) $175,000

Dividends expense $25,000

Capital loss $70,000 $270,000

Total $150,000

Add: Dividend income $40,000

Capital gain $55,000 $95,000

Net income $245,000

3 0

2 years ago