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
lara31 [8.8K]
2 years ago
6

Larry recorded the following donations this year: $500 cash to a family in need $2,400 to a church $500 cash to a political camp

aign To the Salvation Army household items that originally cost $1,200 but are worth $300. What is Larry's maximum allowable charitable contribution if his AGI is $60,000? Multiple Choice $2,900 $1,000 $2,700 $4,600 None of the choices are correct.
Business
1 answer:
soldier1979 [14.2K]2 years ago
7 0

Larry's maximum allowable charitable contribution if his AGI is $60,000 is: $2,700.

<h3>Maximum allowable charitable contribution</h3>

A charitable contribution can be defined as the way in which a person donate his or her own money , goods or services to an organization thereby deducting the market value of this contribution from the person income tax return.

Maximum allowable charitable contribution=$2,400 to a church+ Household items worth of $300

Maximum allowable charitable contribution= $2,700

Therefore Larry maximum allowable charitable contribution if his AGI is $60,100 is $2,700.

Learn more about Maximum allowable charitable contribution here:brainly.com/question/24744888

You might be interested in
Pursley, Inc. owns 70 percent of Harry Corp. The consolidated income statement for a year reports $50,000 Noncontrolling Interes
jek_recluse [69]

Answer:

This $24,000 reflect under the financing activities

Explanation:

Basically there are three types of activities:

1. Operating activities: It includes those transactions which affect the working capital, and it records transactions of cash receipts and cash payments.

2. Investing activities: It records those activities which include purchase and sale of the fixed assets

3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.  

The dividend is paid $80,000 and owns 70 percent so the final amount would be = $80,000 × 70% = $56,000

So, the cash outflow would be = $80,000 - $56,000 = $24,000

This $24,000 reflect under the financing activities

7 0
3 years ago
How do businesses use the competency "Engaging Communication" to solve problems?
Whitepunk [10]
If you engage in conversation or to communicate this will help solve problems because your communicating if that makes sense
8 0
3 years ago
If you were opening a savings account with compound interest, would you prefer an account that offers annual compounding, quarte
max2010maxim [7]
 <span>It is very simple. The more often it is compounded the better. So daily is the best, next is weekly, monthly etc. The greater the number of compounding periods, the better it is for your bottom line. 
With a savings account you are lending the bank money but with a mortgage they lend you money so conversely, you want as few compounding periods as possible. 
It works this way because at each break point to which they compound interest (ie.say monthly) they capitalize (add the interest earned to that point) into the investment and you earn interest on your interest for the next period as well as on the principal you started with (next month in this scenario) So the more often they include the interest earned into the calculation (compound periods) the greater the impact on growth. hope it helps
</span>
4 0
3 years ago
What is revision?hey
igomit [66]

Answer:

The action of revising

Explanation:

3 0
3 years ago
Read 2 more answers
E-lab (the "e" stands for experience) has project teams perform field research for its clients. project teams at e-lab have desi
Nadya [2.5K]
You may expect for the E-Labs project team to be able to perform stretch goals. A stretch goal is an extra objective you set for your battle in the event that you surpass your underlying subsidizing objective, and is, for the most part, used to fund another particular part of your venture. The extend objective was imparted to the group who was going to play a part with pushing their points of confinement past what was already accomplished. That can't be accomplished by incremental or little upgrades yet require stretching out oneself as far as possible to be realized.
4 0
3 years ago
Other questions:
  • A loan of $5,000 is charged a 12% annual interest rate. An $80 payment is made each month. a. Write a recurrence relation for th
    11·1 answer
  • QUESTION 25 Flannigan Company manufactures and sells a single product that sells for $450 per unit; variable costs are $300. Ann
    8·1 answer
  • WaterwayCorporation had net credit sales of $13100000 and cost of goods sold of $9070000 for the year. The average inventory for
    9·1 answer
  • Donald Gilmore has $100,000 invested in a 2-stock portfolio. $72,500 is invested in Stock X and the remainder is invested in Sto
    15·1 answer
  • Henry has a $10,000 car insurance policy with a $400 per claim deductible. Henry is involved in an accident, and his car sustain
    15·1 answer
  • Oil Well Supply offers a 8 percent coupon bond with semiannual payments and a yield to maturity of 8.73 percent. The bonds matur
    11·1 answer
  • The concept of permanent current assets reflects the fact that some components of current assets do not shrink to zero even when
    15·1 answer
  • An investor opens an account with BNZ Government Securities, a broker-dealer limiting its transactions exclusively to securities
    13·1 answer
  • Cho vay thương mại và cho vay tài chính khác nhau ở chổ nào?
    7·1 answer
  • A) What are the two features in a market economy that stem from self interest?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!