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In the curerent year, Mike's AGI is $50,000. Mike has no miscellaneous itemzed deductions other than employment related expenses listed below. Mike attends a professional trade association convention in Los Angeles. He spends three days at the meeting and tow days vactioning before the meeting. Mike was unable to obtain excursion airfare rates ( i.e. staying over a Staurday night) despite the fact that he was on vacation immediately before the meeting. Mike's total expenses include the following:Airfare $450.00Meals ( $50 per day) 250.00Hotel ($100 per day) 500.00Entertainment of customers(business is discussed) 500Total $1,700.00Mike's empolyer reimburses hin for the business related expenses and, accordingly, Mike receives a reimbursement of $1,400.00 ($450.00 + 150 +300 +500).a. How much can Mike deduct for employment-related expenses?b. How is the reimbursement reported on Mike's tax return?c. How much of the reimbursement may Mike's employer deduct?
Two Projects are being considered through a company are mutually exclusive and have the given projected cash flows; Based on the information, determine which of the two projects would be preferred?
Suppose the projections given for price, quantity, variable costs, and fixed costs are all accurate to within ±10 percent.
Hunter retired last year and will receive annuity payments for life from his employer's qualified pension plan of $30,000 per year starting this year.
Discuss the purpose and give examples of specific fraud detection procedures in acquisition and expenditure cycle.
You are 25 years old and inherit $65,000 from your grandmother. If you wish to purchase a $100,000 boat to celebrate your 30th birthday, what compound annual rate of return must you earn?
Apex, Inc is a biotechnology company that is about to announce the results of its clinical trials of a potential new cancer drug, If the trials successful, Apex stock will be worth $70 each share.
ABC Inc. is considering Projects S and L, whose cash flows are shown below. These projects are mutually exclusive, equally risky, and not repeatable.
The Digby's balance sheet has $120,271,000 in equity. Further, corporation is expecting $3,000,000 in net income next year. Suppose no dividends are paid and no stock is issued,
The Singapore dollar rose by 9 percent in real terms against the United State dollar. What was the likely impact of the strong Singapore dollar on United State electronics manufacturers using Singapore as an export platform?
Thomasville Liquidators wants to raise $6.2 million to expand their business. To accomplish this they plan to sell 20-year, $1,000 face value, zero coupon bonds. The bonds will be priced to yield 9.5%. What is the minimum number of bonds they must..
Computation and analysis of property dividend and The corporation has asked you for advice then what do you recommend.
Recognize foreign exchange rate data and discuss its impact on your investment decision.
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