Homework Answers
63)
c. $13,810
If employer pays or reimburses adoption expenses under an adoption assistance program, which exclude from gross income up to $13,810 in 2018
64)
e. Entertainment
All expenses (given in the question) other than entertainment expense is usually comes under schedule c.
--------
Hope you Understood.
Thank you.
Add Answer to:
63 If your employer pays or reimburses your adoption expenses under an adoption assistance program, you...
The following are common expenses taken on Schedule C except: Choose one answer. a. Advertising b....
The following are common expenses taken on Schedule C except: Choose one answer. a. Advertising b. Office expenses c. Repairs and Maintenance d. Legal services e. Entertainment
22. Which one of the following is TRUE? Only you (not your employer) pay your Social...
22. Which one of the following is TRUE? Only you (not your employer) pay your Social Security tax. b. Both your earned and uneared income is taxed for Social Security c. There is a cap on the amount of your earned income that is taxed for Medicare. There is a cap on the amount of your earned income that is taxed for Social Security. e. None of the above are TRUE. 23. Which one of the following is TRUE about...
Based on the book income to taxable income reconciliation you completed use the attached spreadsheet to...
Based on the book income to taxable income reconciliation you
completed use the attached spreadsheet to complete Palo Alto’s
Schedule M-1.
OTHER EXPENSES AND TOTAL EXPENSES FOR TAXABLE INCOME ARE
-340,000 AND -15,845,000
Palo Alto, Inc.
Schedule M-1
1
Net income per books
2
Federal income tax per books
3
Excess of capital losses over capital gains
4
Income subject to tax not recorded on books this year
(itemize)
5
Expenses recorded on books this year not deducted on this...
Travel expenses connected with overight travel for business while away from your tax home is deductible....
Travel expenses connected with overight travel for business while away from your tax home is deductible. Your tax home is: Mat Choose one Answer. O a. Your family home b. The general area of your place of business c. Where you grew up. d. Where you finished school Which of the following is a taxable payment of alimony if it was ordered in the divorce decree? Choose one answer. a. A noncash property settlement b. Spouse's part of community income...
Question 1 BWS Corporation pays the premiums on an $80,000 group-term life insurance policy on the...
Question 1 BWS Corporation pays the premiums on an $80,000 group-term life insurance policy on the life of its 45-year-old vice-president, Warren. The annual cost per $1,000 of coverage for a person aged 45 to 49 is $1.80. If Warren has paid $25 toward the cost of the insurance, what is the cost of hte policy includible in Warren's gross income? 1) $278.00 2) $144.00 3) $54.00 4) $29.00 5) $0 Question 2 During 2019, Edward East had wages of...
69) A policy that pays you back for actual expenses is called A) An indemnity plan....
69) A policy that pays you back for actual expenses is called A) An indemnity plan. B) A deductible plan. C) A reasonable and customary plan. D) A reimbursement plan. E) A coinsurance plan m The set amount that you must pay toward medical expenses before the insurance company pays benefits is called A) Deductible. B) Reimbursement C) Indemnity. D) Internal limit. E) Reasonable and customary charges. 71) Which of the following is a government health care program? A) Health...
#1) (1 Mark) You are trying to determine when you must file your 2017 T1 Tax...
#1) (1 Mark) You are trying to determine when you must file your 2017 T1 Tax Return and pay any related outstanding balance. Your spouse operates a Sole Proprietorship Confectionary Store and you are an Accounts Payable Clerk at a local business. In addition, you have two children (aged 4 and 9). Your children do not have any sources of income. When must the 2017 Return be filed? When must the balance owing for the 2017 Return be paid? #2)...
Use 2015 Form 990 and the 2016 annual report for Feeding America. Although the Form 990...
Use 2015 Form 990 and the 2016 annual report for Feeding
America. Although the Form 990 indicates it is for 2015, it is
actually for the period July 1, 2015, to June 30, 2016, the same
time period as the 2016 annual report.
Required
Compute the following performance measures using the Form 990.
Using the annual financial statements, calculate the following
performance measures.
Liquidity Choose Denominator Ratio Choose Numerator Current Assetsselected answer Current Liabilitiesselected correct answer correct not attempted not...
calculate the net loss or net profit based on the information for the year. OME N...
calculate the net loss or net profit based on the information
for the year.
OME N Atte Sec . SCHEDULE C Profit or Loss From Business (Form 1040 or (Sole Proprietorship) 1040-SR) Go to www.lrs.gow Schedule for instructions and the latest information Department of the Treasury *Attach to Form 1040, 1040-SR, 1040-NR, or 1041; partnerships generally must file Form 1065. Intemal Revenue Service Income 1 Gross recebe orales. Incons for line 1 and check the box this come was reported...
Assignment Questions: 1. As a Chief Management Accountant of a Multi-National Company evaluate your primary duties...
Assignment Questions: 1. As a Chief Management Accountant of a Multi-National Company evaluate your primary duties and responsibilities and compare some of the differences between financial accounting and managerial accounting. (3 Marks) 2. At the beginning of the school year, Mohamed Ahamed decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31, 2018 to pay the spring semester tuition, which is the same as the...
22. Which one of the following is TRUE? Only you (not your employer) pay your Social Security tax. b. Both your earned and uneared income is taxed for Social Security c. There is a cap on the amount of your earned income that is taxed for Medicare. There is a cap on the amount of your earned income that is taxed for Social Security. e. None of the above are TRUE. 23. Which one of the following is TRUE about...
Based on the book income to taxable income reconciliation you
completed use the attached spreadsheet to complete Palo Alto’s
Schedule M-1.
OTHER EXPENSES AND TOTAL EXPENSES FOR TAXABLE INCOME ARE
-340,000 AND -15,845,000
Palo Alto, Inc.
Schedule M-1
1
Net income per books
2
Federal income tax per books
3
Excess of capital losses over capital gains
4
Income subject to tax not recorded on books this year
(itemize)
5
Expenses recorded on books this year not deducted on this...
Travel expenses connected with overight travel for business while away from your tax home is deductible. Your tax home is: Mat Choose one Answer. O a. Your family home b. The general area of your place of business c. Where you grew up. d. Where you finished school Which of the following is a taxable payment of alimony if it was ordered in the divorce decree? Choose one answer. a. A noncash property settlement b. Spouse's part of community income...
69) A policy that pays you back for actual expenses is called A) An indemnity plan. B) A deductible plan. C) A reasonable and customary plan. D) A reimbursement plan. E) A coinsurance plan m The set amount that you must pay toward medical expenses before the insurance company pays benefits is called A) Deductible. B) Reimbursement C) Indemnity. D) Internal limit. E) Reasonable and customary charges. 71) Which of the following is a government health care program? A) Health...
#1) (1 Mark) You are trying to determine when you must file your 2017 T1 Tax Return and pay any related outstanding balance. Your spouse operates a Sole Proprietorship Confectionary Store and you are an Accounts Payable Clerk at a local business. In addition, you have two children (aged 4 and 9). Your children do not have any sources of income. When must the 2017 Return be filed? When must the balance owing for the 2017 Return be paid? #2)...
Use 2015 Form 990 and the 2016 annual report for Feeding
America. Although the Form 990 indicates it is for 2015, it is
actually for the period July 1, 2015, to June 30, 2016, the same
time period as the 2016 annual report.
Required
Compute the following performance measures using the Form 990.
Using the annual financial statements, calculate the following
performance measures.
Liquidity Choose Denominator Ratio Choose Numerator Current Assetsselected answer Current Liabilitiesselected correct answer correct not attempted not...
calculate the net loss or net profit based on the information
for the year.
OME N Atte Sec . SCHEDULE C Profit or Loss From Business (Form 1040 or (Sole Proprietorship) 1040-SR) Go to www.lrs.gow Schedule for instructions and the latest information Department of the Treasury *Attach to Form 1040, 1040-SR, 1040-NR, or 1041; partnerships generally must file Form 1065. Intemal Revenue Service Income 1 Gross recebe orales. Incons for line 1 and check the box this come was reported...
Assignment Questions: 1. As a Chief Management Accountant of a Multi-National Company evaluate your primary duties and responsibilities and compare some of the differences between financial accounting and managerial accounting. (3 Marks) 2. At the beginning of the school year, Mohamed Ahamed decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31, 2018 to pay the spring semester tuition, which is the same as the...
Most questions answered within 3 hours.
-
Industry: Telecommunications in India
Here, you need to discuss the sources of the growth pattern
and...
asked 3 minutes ago -
Hydrobromic acid
dissolves solid iron according to the followiaung reaction:
Fe(s)+2HBr(aq)→
FeBr2(aq)+ H2(g)
Part A. What...
asked 1 hour ago -
Verify the following vector identity in SPHERICAL
COORDINATES.
div(curl(A)) = 0
asked 3 hours ago -
The work function (Φ) for a metal is 7.50×10-19 J.
What is the longest wavelength (nm)...
asked 4 hours ago -
1. Would the following procedural changes cause the
calculated mass percent Ni2+ ion in Ni(NH3)nCl2 to...
asked 5 hours ago -
1. Why does the voltage of the capacitor vary with frequency?
where does this missing voltage...
asked 6 hours ago -
p p please write each step out clearly
3. A manager of a company is considering...
asked 5 hours ago -
On October 1, Ebony Ernst organized Ernst Consulting; on October
3, the owner contributed $83,540 in...
asked 7 hours ago -
A.)As an electron moves through a region of space, its speed
decreases from 9.60 × 106...
asked 7 hours ago -
In java with the netbeans program do:
Through object programming
Create a class "ContadorP", which is...
asked 7 hours ago -
Pattern Corporation acquired all of Science
Company's outstanding stock on January 1, 2016 for $600,000 cash....
asked 7 hours ago -
Here are all accounts Tyler Co. maintains.
Tax expenses $4,750
Common stocks $48,840
SG&A expenses $2,500...
asked 7 hours ago