1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mrac [35]
3 years ago
14

Frank Fronton decided to become a professional jai alai player. In January, Fronton joined a jai alai club where he could train

to become a jai alai player. After training for the first 7 months of the year, Fronton received a contract and began to play professionally as an independent contractor; however, he continued to use the club for ongoing training and practice. Fronton paid $12,000 for the use of the club during the year ($1,000 per month). He purchased equipment in January costing $1,500. Replacement equipment after receiving the contract cost $500, and transportation to out-of-town games cost $800 for the remainder of the year. How much can Fronton deduct as business expenses?
Business
1 answer:
belka [17]3 years ago
6 0

Answer:

$6,300

Explanation:

The computation of expenses that can be deducted is shown below:-

Expenses that can be deducted = Fee paid for club after getting contract(for 5 months) + Replacement cost + Travelling

= ($1,000 × 5) + $500 + $800

= $6,300

Therefore for computing the expenses that can be deducted we simply add  Fee paid for club after getting contract, replacement cost and travelling and the rest amount is not relevant for computation.

You might be interested in
When making contingency estimates, the contractor should Select one: a. estimate the amount to mitigate high impact and probable
coldgirl [10]

Answer:

a. estimate the amount to mitigate high impact and probable issues.

Explanation:

In project management, a contractor can be defined as an individual or organization that temporarily undertakes a project in order to create a unique result, product, and service.

A contingency is an amount of money which is added to the initial or standard cost estimate so as to cover risk exposure and any uncertainty.

When making contingency estimates, the contractor should estimate the amount to mitigate high impact and probable issues.

As a result of uncertainties that are peculiar to everything in life, most especially projects undertaken, it is very important and necessary that the contractor should set aside an amount of money to mitigate or lessen any high impact such as dwindling prices, miscellaneous, faults, repairs and other probable issues that may arise in the process of execution.

6 0
3 years ago
Nadine is retiring today and has $96,000 in her retirement savings. She expects to earn 5.5 percent, compounded monthly. How muc
Ann [662]

Answer:

The monthly withdrawal is $701.10  

Explanation:

The monthly withdrawal can be computed with PMT formula using excel spreadsheet.

The formula is PMT(rate,nper,-pv)

The fv and type are both taken as zero.

However, the rate of 5.5 % given in the question is a yearly rate,but the requirement of the question is monthly withdrawal, hence the rate is divided by 12 months to reflect a monthly rate i.e 5.5%/12

Besides, the nper should  also to be adapted to show that the withdrawal is to be made every month for 18 years, hence nper is 12*18

The computation of the pmt based on the above highlighted points is found in the attached.

Download xlsx
6 0
3 years ago
Using the one-period valuation model, assuming a year-end dividend of $0.11, an expected stock sales price of $60, and a require
sineoko [7]

Solution:

The most common tool used to measure the valuation of the stock is the ratio of price to earnings. It's easy to access, and the data is readily accessible. The P / E ratio is determined by measuring the price of the stock by the sum of its 12-month trailing profits.

Given,

Dividend of $0.11

Expected stock sales price of $60

RRR 10%

The current price of the stock would be : 60 * 0.10 * 0.11 = 66

7 0
3 years ago
What are the determinants of supply? Instructions: In order to receive full credit, you must make a selection for each option. F
inysia [295]

Answer:

Number of producers

Prices of other goods

Technology

Resource prices

Explanation:

Supply is the total amount of goods and services available to consumers in a market

The higher the number of producers, the higher the number of goods produced and  the higher the supply all things being equal. The reverse would be the case if the number of producers fall.

If the price of other good increases, it would be more profitable to produce the other goods. As a result, the number of producers available to  good would reduce.

Technological progress that reduces cost of production and makes production more efficient, would lead to an increase in supply.

If the price of inputs increases, it becomes more expensive to produce the good and as a result, supply would fall.

7 0
3 years ago
Read 2 more answers
Lisa goes to a car dealership to purchase a new honda accord. she is not willing to pay the listed sticker price for the car, an
solmaris [256]
Given that <span>Lisa goes to a car dealership to purchase a new honda accord. she is not willing to pay the listed sticker price for the car, and she instead works with the salesperson and manager until a mutually satisfactory price is agreed upon.

This is an example of negotiated pricing.</span>
8 0
3 years ago
Other questions:
  • Ms. Benoit is a self-employed architect who earns $300,000 annual taxable income. For the past several years, her tax rate on th
    8·1 answer
  • To be able to go on the band trip, four band members each get a part-time job. Each person has 5 weeks in which to save his or h
    11·2 answers
  • AirStep Shoe Company has two retail stores, one in Gainesville and the other in Orlando. The Gainesville store had sales of $165
    12·1 answer
  • Bryant Company has a factory machine with a book value of $90,000 and a remaining useful life of 5 years. It can be sold for $30
    15·2 answers
  • I WILL MARK THE BRAINLIEST
    6·1 answer
  • One major role of firms is to manage risk. Consumers do not want to pay for products of unknown quality or where the delivery da
    5·1 answer
  • What is the monopolist's profit under the following conditions? The profit-maximizing price charged for goods produced is $12. T
    14·1 answer
  • An article in the New York Times about J.C.​ Penney's pricing strategy under former CEO Ron Johnson​ observes: ​"Penney had pull
    5·1 answer
  • What is not a service business?
    13·1 answer
  • Visit the web site for a different well-known company, and find the section that lists the company's values. what are the compan
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!