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Question - Mollie has AGI of $50K and had a high deductible plan (health insurance) this year. She had out incurred $5,500 of medical expenses. She is a salesperson who incurred unreimbursed expenses including 12,000 business miles, 2,500 of meals & entertainment expenses, cell phone of $870 and $1,000 of business supplies. She also has mortgage interest of $6K and real estate taxes of $2,450. What are Mollie's total itemized deductions for 2013? Show me the method to your solution.
A $30,000 recently completed feasibility study indicated that the firm can employ an existing factory owned by the firm, which would have otherwise been sold for $150,000. The firm will borrow $750,000 to finance the acquisition. Total interest ex..
Decisions involving capital expenditures often require managers to weigh the costs and benefits of different options related to the same goal or project.
myron is a barber who does his own accounting for his shop. when he buys supplies he routinely debits supplies expense.
many economies are in the process of transition. what are the key means that drive the transition from a command
abc sports a store that sells various types of sports clothing and other sports items is planning to introduce a new
At the end of last year a company had 12 million shares ($2.50 par value) outstanding total owners' equity 96 million.
Prepare Crane's journal entries to record (a) the issuance of the note and (b) the December 31 interest payment
Obtain the sample space, assuming that balls of the same color are indistinguishable. Upon assigning equal probability to each element in the sample space, determine the probability of drawing two balls of different colors.
Set up a worksheet to calculate the annual cost, the monthly cost, and the burden markup of a salaried employee.
Prepare the journal entries to recognize depreciation for each of the five years, assuming that the company uses.
Compute the EUP for direct material, direct labor, and overhead using weighted average process costing. Reconcile the calculations in parts (a) and (b)
One of Astro Company's activity cost pools is machine setups, with estimated overhead of $150,000. Astro produces sparklers (400 setups) and lighters (600 setups). How much of the machine setup cost pool should be assigned to sparklers?
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