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Whitepunk [10]
2 years ago
12

On Dec. 15, 2018, Jack’s Tax Prep, a cash-method taxpayer, prepaid $5,000 worth of deductible interest on a business loan. The i

nterest won’t accrue until January 2019.
Jack’s Tax Prep will be displaying at a tradeshow in January 2019. On Dec. 16, 2018, Jack’s prepaid the $4,000 trade show booth rental expense. Use of the booth will occur in January 2019.

In addition, On Dec. 28, 2018, Ed’s Equipment repaired some equipment in Jack’s office and billed Jack’s $2,000. Jack’s received the invoice on Dec. 28, 2018 and paid the $2,000 invoice on Jan. 29, 2019.

How much of the $11,000 in deductible business expenses may Jack’s Tax Prep deduct in 2018?


In addition to the $11,000 in expenses, in Dec. 2018, Jack’s prepaid two years’ worth of office rent ($4,000/month * 24 months = $96,000). The rent covers Jan. 1, 2019 through Dec. 31, 2020. How much of the $96,000 prepaid rent can Jack’s deduct in 2018?


Instead, Jack’s only prepaid six months’ worth of office rent ($4,000/month * 6 months = $24,000) in Dec. 2018. The rent covers Jan. 1, 2019 through June. 30, 2019. How much of the $24,000 prepaid rent can Jack’s deduct in 2018?
Business
2 answers:
pychu [463]2 years ago
6 0

Answer:

Explanation:

There are three questions, I am providing their answers in sequence.

Q-1: How much of the $11,000 Jack’s Tax Prep deduct in 2018?

As Jack has prepaid all of the $11000 ( $5000 + $4000 + $2000) in 2018, hence all expenses were deducted in 2018.

Q-2: Of the $96,000, how much prepaid rent Jack can deduct in 2018?

All of the $96000 were prepaid in 2018, hence complete amount can be deducted.

Q-3: Of the $24,000, how much prepaid rent Jack can deduct in 2018?

All of the $24000 were prepaid in 2018, hence complete amount can be deducted.

il63 [147K]2 years ago
4 0

Last question, answer is 24K, before last, answer is 0.

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Students are going through a three-step process to obtain their ID cards.
IRINA_888 [86]

Answer:

The correct answer is both A and C

Explanation:

Solution

Given that:

The Process 1 Registration, Capacity = 0.5 registration per minute (1/2)

The Process 2 Cashier, Capacity = 1*3 / 10 = 3/10 = 0.3 payments per minute

The Process 3 , Photo ID, Capacity = 1*4 / 20 = 0.2 ID per minute

Now

The Time taken for process a unit is minimum of Demand rate / Lowest process capacity

so, the flow rate = 0.2 student per minute or 5 minute per student

Thus,

The total time = 20 * 5 = 100 minutes.

4 0
2 years ago
Chrzan, Inc., manufactures and sells two products: Product E0 and Product N0. Data concerning the expected production of each pr
joja [24]

Answer:

Predetermined manufacturing overhead rate= $53,75 per machine hour

Explanation:

Giving the following information:

Order size:

Estimated activity cost= $585,866

Estimated machine hours= 10,900

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 585,866/10,900

Predetermined manufacturing overhead rate= $53,75 per machine hour

4 0
2 years ago
The overall goal of monitoring, audits, and inspection activities is to:
Harrizon [31]

Answer;

Ensure the protection of human research subjects and data integrity.

The overall goal of monitoring, audits and inspection activities is to ensure the protection of human research subjects and data integrity.

Explanation;

-Monitoring is the act of overseeing the progress of a clinical trial, and of ensuring that it is conducted, recorded, and reported in accordance with the protocol, SOPs, GCP and applicable regulatory compliance.

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4 0
2 years ago
Mayan Company had net income of $33,480. The weighted-average common shares outstanding were 9,300. The company declared a $4,00
bearhunter [10]

 Answer:

EPS = $3.17

Explanation:

<em>Earnings per share(EPS) is the total earnings attributable to ordinary shareholders divided by the number of units of common stock. </em>

EPS= Earnings attributable to ordinary shareholders/number of ordinary shares

Earnings attributable to ordinary shareholders= Net income after tax - preference dividend  

Earnings attributable to ordinary shareholders = net income - preference divi dend

Earnings = 33,480 - 4000 = 29,480

EPS = 29,480/9,300 =3.169

EPS = $3.17

7 0
2 years ago
Lisa is choosing between three alternatives: a) working at her job that pays 60 dollars; b) writing a term paper which she value
Mkey [24]

Answer:

c. 80 dollars.

Explanation:

Opportunity cost represents the next best alternative missed.  It is the forfeited benefits arising from choosing one option over the others. Opportunity cost is expressed as a value or the worth of the forgone alternative.

Lisa's opportunity cost is $ 80.  She has valued going out with her friend at $ 80, which is the highest value amongst her three choices. Since she can not engage in all the three activities at the same time, the next best alternative to writing her exam is the opportunity cost.

7 0
2 years ago
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