User Account

All Pages

How much can mr benedict deduct in the current year

Assignment Help Accounting Basics
Reference no: EM132060084

Question - Mr. Benedict is starting Belmont Abbey Corporation (BAC). Benedict spends $4,000 on salaries to help startup BAC. Mr. Benedict also spends $5,000 for a CPA (file documents), $4,000 for a lawyer (file documents), and $3,000 for printing and selling stock shares. How much can Mr. Benedict deduct in the current year if business starts on July 17?

A. $5,133.33

B. $5,366.66

C. $9,133.33

D. $9,233.33

Reference no: EM132060084

Questions Cloud

Compute the division residual income : During the year, the division's operating income was $12,500 on sales of $500,000. Compute the division's residual income if the desired ROI is 6 percent
Describe the trends in the non-alcoholic beverage industry : Describe the trends in the non-alcoholic beverage industry, especially the specific type of beverage category you have chosen.
Give general journal entries to record the sale of the bonds : On 1-1-2015 Avion, Inc. Sold Bonds with these particulars: Give General Journal entries to record the sale of the bonds, and the 1st 4 interest payments
What is an healthcare policy that originated : What is an healthcare policy that originated more out of an emotional outcry from the population than a true evidence-based decision-making process?
How much can mr benedict deduct in the current year : Mr. Benedict is starting Belmont Abbey Corporation (BAC). How much can Mr. Benedict deduct in the current year if business starts on July 17
How has privilege shaped your life opportunities : How has privilege, in any/all forms, shaped your life? Consider race, socioeconomic status, education, and other associations identified in Week 1.
What is laurel year taxable income on the sale : Laurel receives $25,000 in year 0. She receives $50,000 in year 1. She receives $75,000 in year 2. What is Laurel's year 0 taxable income on the sale
What is your conceptualization of the problem : What is your conceptualization of the problem? Provide a systemic summary of what is happening with this family system, including specific data from the movie.
How general environmental factors may affect five forces : Give three examples to explain and illustrate how general environmental factors may affect the five forces in Porter's five-force model.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd