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3 years ago

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

Business

1 answer:

Fofino [41]3 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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Paula Boothe, president of the Armange Corporation, has mandated a minimum 10% return on investment for any project undertaken b

Vlad1618 [11]

Answer:

Residual income= $36,000

Explanation:

Residual income is the income that is generated in excess of the minimum required rate of return, which in this case is 10%. Any income above 10% return is considered as residual income. In this case the investment is 1,800,000 and 10% of that is 180,000 (0.1*1,800,000). So any income made above $180,000 will be residual income. In order to find the residual income we subtract the minimum income required from the actual income.

In this case the minimum income required is 180,000 and the actual operating income is 216,000 so residual income=

216,000-180,000= $36,000

4 0

3 years ago

Bridge City Consulting bought a building and the land on which it is located for $175,000 cash. The land is estimated to represe

Darya [45]

Answer:

Part 1

D.E = $5,300

Part 2

a. Book Value = $61,900

b. Book Value = $122,500

Explanation:

Step 1 : Determine the Cost of Buildings

Separate the Cost of Land and the Cost of Building from the Purchase Price

Calculation of the Cost of Building

Purchase Price ($175,000 x 30%) $52,500

Building Renovations $20,000

Total $72,500

Step 2 : Depreciation calculation

Depreciation expense = (Cost - Residual Value) ÷ Useful Life

= ($72,500 - $19,500) ÷ 10

= $5,300

After Year 2

Buildings :

Accumulated Depreciation = $10,600

Book Value = $72,500 - $10,600 = $61,900

Land

Book Value = $175,000 x 70% = $122,500

Note : Land is not depreciated

5 0

3 years ago

Inez has a specific set of plans to build a sailboat. the plans are detailed in nature, and any boat builder can build the boat.

navik [9.2K]

Inez is still obligated to accept delivery of the boat because it is still the boat that she contracted out and built to the specifications that she requested. Just because it was contracted out to another company doesn't mean that she didn't get what she wanted for the price she wanted. If she didn't have a specific design then she might have an argument, however she did and it was built to that design specs.

7 0

3 years ago

Project Organizational Capability

dem82 [27]

Answer:

kindly explain well

Explanation:

Unable to do it

3 0

3 years ago

Can anyone help me with this? I've looked for the answers but I can't seem to find them (that's not unusual, my school is online

Law Incorporation [45]

Before you give your hard earned cash to just any Internet bank, make sure they are legitimate. Check and re-check all of the institutions' contact information. Contact them. Ask questions. Make sure they are real! There also should be an “about us” section on the site. This should tell businesses detail. How long have they existed? Who is the CFO? Who is the parent company, if any? This is your money you are entrusting to them. Make sure it is safe! Go to the FDIC web-site. Look for information about the Internet bank you are considering. If they are insured, their information will be available.

For more information:

Read more: http://www.finweb.com/banking-credit/is-your-internet-bank-legitimate-how-to-tell.html#ixzz4PKL0rVJ8

I hope my answer has come to your help. Thank you for posting your question here in Brainly. We hope to answer more of your questions and inquiries soon. Have a nice day ahead!

4 0

3 years ago