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3 years ago

15

___________ incorporation is defined as extending protections from the Bill of Rights to the state governments, one right at a t

ime.

1 answer:

Gnom [1K]3 years ago

6 0

Answer:

Selective incorporation is defined as extending protections from the Bill of Rights to the state governments, one right at a time.

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Luke is an ordained minister. Luke's salary from his employing church last year was $31,000. The church did not designate any of

nirvana33 [79]

Answer

$31,000

Explanation:

(c) $31,000

Explanation:

As per IRS for Earnings of Clergy, A licensed, commissioned, or ordained minister who performs ministerial services as an employee may be able to exclude from gross income the fair rental value of a home provided as part of compensation (a parsonage) or a housing allowance provided as compensation if it is used to rent or otherwise provide a home. In order to be able to exclude the housing allowance from income, the minister's employing organization must officially designate the housing allowance as such before paying it to the minister.The fair rental value of a parsonage or the housing allowance is excludable only for income tax purposes, and not for Self-employment tax purpose.

In the given case, the church did not designate any of Luke's salaries as a housing allowance. Hence it is not deductible from Gross Income for Income Tax Purposes and irrespective of designation or not, it is not deductible for self-employment tax.

Thus, Full salary of Luke i.e $31,000 must be included when figuring net income for self-employment tax.

7 0

3 years ago

Chiquita produces bananas for an average explicit cost of $0.25 per banana and sells 1 million bananas per week for a price of $

Sergio039 [100]

Answer:

Option (A) is correct.

Explanation:

Given that,

Implicit costs per week = $200,000

Average explicit cost per banana = $0.25 per banana

Per week bananas sold = 1 million

Explicit cost = Average explicit cost per banana × No. of banana sold

= $0.25 × 1,000,000

= $250,000

Total revenue = No. of banana sold × Selling price of each banana

= 1,000,000 × $0.50

= $500,000

Accounting profit = Total revenue - Explicit cost

= $500,000 - $250,000

= $250,000

Economic profit:

= Total revenue - Explicit cost - Implicit costs

= $500,000 - $250,000 - $200,000

= $50,000

5 0

3 years ago

How will the aggressive e-commerce plan implemented by Walmart affect operations at its retail locations

Lisa [10]

Answer and Explanation:

As we know that Walmart has the biggest size as a strength. Even there is market saturation but still it opened various retail stores. having more than 10,000 stores in international market it seen that there is large amount of profits. Now after implementing the new e-commerce plan the Walmart leave the competition behind as it helped in covering the great amount of customers range due to this it would create a favorable response also it would be helped in online shopping. having e-commerce plan will give the benefit to generate more sales as compared to before

4 0

3 years ago

Inkal Co. was formed on January 1, 2017 as a wholly owned subsidiary of a US corporation. Sinkal's functional currency was the s

defon

Answer:

It would decrease the net assets by $60,800

Explanation:

The computation of the translation adjustment for 2017 is shown below:

For common stock

= Issued amount × (revised exchange rate - exchange rate)

= $1,000,000 × (0.42 - 0.48)

= -$60,000

For dividend

= Dividend paid × (revised exchange rate - exchange rate)

= $20,000 × (0.42 - 0.46)

= -$800

For net income

= Net income × (revised exchange rate - exchange rate)

= $80,000 × (0.42 - 0.42)

= $0

So, it would decrease the net assets by $60,800 ($60,000 + $800)

7 0

3 years ago

Service Department Cost Activity Base for Allocation Graphics Production $200,000 number of copies Accounting 500,000 number of

Mandarinka [93]

Answer:

$350,000

Explanation:

Production = $200,000 number of copies

Accounting = $500,000 number of invoices processed

Personnel Department = $400,000 number of employees

These are all service cost

Total number of copies = 20,000 + 30,000 + 50,000 = 100,000

Total number of invoices processed = 700 + 800 + 500 = 2,000

Total number of employees = 130 + 145 + 125 = 400

Rate per service shall be as follows:

Production = $200,000/100,000 = $2 per copy

Cost of Super Division = $2 $\tiimes$ 50,000 = $100,000

Accounting = $500,000/2,000 = $250 per invoice

Cost of Super Division = $250 $\tiimes$ 500 = $125,000

Personnel Department = $400,000/400 = $1,000 per employee

Cost of Personnel Department = $1,000 $\tiimes$ 125 = $125,000

Total service cost of Super Department = $100,000 + $125,000 + $125,000

= $350,000

8 0

3 years ago