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Westkost [7]
3 years ago
10

If an employer chooses a per diem method of substantiation for travel expenses,

Business
1 answer:
Ahat [919]3 years ago
7 0

If an employer chooses a per diem method of substantiation for travel expenses, the meals and incidental expenses method requires actual cost records to substantiate lodging expenses.

Option E

<u>Explanation: </u>

The price of the meal and the additional expenses while travelling away from home for work purposes is deducted from an employee or self-employed person. The expense deduction generally requires the costs to be substantiated.

There has been, however, an optional form that prohibits receipts for these taxpayers.

The IRS releases Diem levels for different parts of the United States (see Notification 2015-63 on the subject of irs.gov). For just the intent of measuring a meal and an accessory deduction, taxpayers may use such per diem rates and will be required to prove it.

If an employer wants a method of proof of travel expenses by Diem, the meal and by-product procedure requires real cost records in order to prove accommodation expenses.

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5. Elmofud, Inc. is considering splitting its stock. The stock is currently priced at $90 per share. You own 100 shares of the s
UkoKoshka [18]

Answer:

total value be in the stock $9,000

Explanation:

given data

currently priced = $90 per share

Number of Stocks = 100 share

solution

we get here first Value of Position that is express as

Value of Position = $90  × 100

Value of Position = $9,000

and

After stock split

Number of Stocks will be

Number of Stock  = 100 × 3 = 300

and

Price per Share will be

Price per Share = \frac{90}{3}  

Price per Share = $30

so

Value of Position = 30 × 300

Value of Position = $9,000

8 0
3 years ago
Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.4 ounces of aluminum per can.
yarga [219]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Production of 12-ounce cans has a standard unit quantity of 4.4 ounces of aluminum per can. During April, 304,000 cans were produced using 1,243,000 ounces of aluminum. The actual cost of aluminum was $0.17 per ounce and the standard price was $0.07 per ounce.

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= ( 0.07 - 0.17)*1,243,000= $124,300 unfavorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (1,337,600 - 1,243,000)*0.07= $6,622 favorable

4 0
3 years ago
The management of Ro Corporation is investigating automating a process. Old equipment, with a current salvage value of $21,000,
Nadya [2.5K]

Answer: 18.8%

Explanation:

Simple rate of return on investment = Incremental net operating income / investment

Incremental net income = Operating savings - Annual cost

= 145,000 - 420,000/6 years

= $75,000

Net investment = Cost of new machine - salvage value of old

= 420,000 - 21,000

= $399,000

Return on investment = 75,000/399,000

= 18.8%

6 0
3 years ago
What do you understand by the term problem? Discuss<br>plz answer it fast!
Dafna11 [192]
An issue disturbing the continuation of an activity
4 0
3 years ago
Jessica Adams is 21 years old and has just graduated from college. In considering the retirement investing options available at
Marina CMI [18]

Answer:

The summary as per the given query is summarized in the explanation section below..

Explanation:

The given values are:

The nominal rate of return,

= 7%

i.e.,

= 0.07

Inflation,

= 4%

i.e.,

= 0.04

  • Lengthy-term inflation would lessen the return on investment that lowers the net return as long-term investments are made.
  • It can also aim to obtain a higher return that will comfortably exceed the rate of inflation and therefore is beneficial towards diminishing the average return.

Now,

The rate of return will be:

= (\frac{1+ nominal \  rate \ of \ return}{1+Inflation}) -1

On substituting the values, we get

= (\frac{1+0.06}{1+0.04} )-1

= (\frac{1.07}{1.04} )-1

= 1.028846-1

= 2.8846 \ percent

Therefore it isn't able to measure the average return rate because the quantity of years for its expenditure.

5 0
3 years ago
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