As a result of the Tax Cuts and Jobs Act, under Federal tax law the tax preparation fees deduction are suspended in tax year 2019. Therefore, under California tax law, a California taxpayer who itemizes his or her deductions and has an adjusted gross income (AGI) of $35,000, and no miscellaneous expenses other than tax preparation fees of $1,000, would be able to take a deduction of what amount on his or her California income tax return for tax year 2019

Answers

Answer 1

Answer:

$300

Explanation:

California tax law continue to allow miscellaneous itemized deductions subject to 2% of Federal AGI

Tax preparation fees                     $1,000

Less: AGI limit of 2%                      $700     (35,000*2%)

Deduction on his/her California  $300

income tax return


Related Questions

An asset (not an automobile) put in service in June 2019 has a depreciable basis of $2,065,000, a recovery period of 5 years, and is the only asset placed in service this year. Assuming bonus depreciation is used, a half-year convention, and the expensing election is not made, what is the maximum amount of cost that can be deducted in 2019?

a. $411,000
b. $1,427,000
c. $2,065,000
d. $1,411,000
e. None of these choices are correct.

Answers

Answer:

c. $2,065,000

Explanation:

Under the depreciation bonus election, 100% of the deduction is allowed thus the amount of cost that can be deducted in 2019 is the total Depreciable base of $2,065,000.

The impact of globalization on human resource planning

Answers

Answer:

The answer is below

Explanation:

The impact of globalization on human resource planning is both positive and negative depending on the point of view it is being looked upon.

Some of which are:

1. Globalization has led to firms and organizations to recruit from far and wide, across nations if needed.

2. It has reduced the cost of traveling and goods and services deliveries

3. It has led to increasing firms reducing the cost of maintaining staff as individual contractors have increased due to the opportunity of remote jobs caused by globalization.

4. The human resources planning has been impacted by globalization such that, many staff has been retrenched.

5. Globalization has also caused brain drain to developing nations in terms of human resource planning.

According to modern growth theory, the key to economic growth is Group of answer choices a large pool of unskilled labor. skilled labor. institutions. paved roads. modern buildings.

Answers

Answer:

Skilled labor

Explanation:

As per the modern economic growth theory, the economic growth would be possible via expenditure done on research & development and have the knowledge regarding innovations so for this the skilled labor is required that helps in research & development and so for innovations

So as per the given statement, the skilled labor is the correct option

Hence, the same is to be considered

Assume that the future value of an ordinary annuity is $3,246, the annual payment is $1,000, and the interest rate is 8 percent. How many years will it take the $1,000 annual payments to grow to $3,246?

a. 1 year
b. 3 years
c. 5 years
d. 7 years

Answers

Answer: b. 3 years

Explanation:

Based on the future value of $3,246 and the annual payment of $1,000, one can guess that the number of payments (years) till the future value is reached will be 3 years.

Plug 3 years in to find out if you are right;

= Annuity * (( (1 + r)^n - 1) / r)

= 1,000 * (( ( 1 + 8%)³ - 1) / 8%)

= $3,246

Answer is proven to be 3 years.

What are the two types of agencies and where do they receive their power and duties? a. International agencies receive their power directly from the president and Congress. Domestic agencies also receive delegated power and authority from the president and Congress. b. Executive agencies receive their power delegated from the executive branch (the president). Independent agencies receive their power as delegated from Congress. c. Economic agencies receive their power as delegated from the president and Congress. Independent agencies also receive their power as delegated from the president and Congress.

Answers

Answer: b. Executive agencies receive their power delegated from the executive branch (the president). Independent agencies receive their power as delegated from Congress.

Explanation:

There are two types of Administrative agencies in the United States: Executive and Independent.

Executive agencies are created by the Presidency and are therefore answerable to the president. They usually have a single leader who sits on the President's cabinet.

Independent agencies are created by an Act of Congress to manage complex areas of operation. They do not usually have a single leader but rather a board or commission with leaders that do not sit on the President's cabinet. An example is the Environmental Protection Agency(EPA).

After a significant economic recession, prices and investing activity in the stock market began trending consistently upward six years ago. In the last three months, this trend has reversed and prices have fallen steadily. How are the past three months of the stock market classified? a. Primary bear market b. Secular bull market c. Primary bull market d. Secular bear market

Answers

Answer: Primary bear market

Explanation:

A primary bear market is when the stock market has a downward movement of decline in price. Such decline in price usually takes place for about two months and above.

Also for a primary bear market, the price decrease is about twenty percent or more. This is typically caused by several economic ills like recession.

Using the following information, compute the cost of direct materials used. Raw materials inventory, January 1$ 25000 Raw materials inventory, December 3155000 Work in process, January 127000 Work in process, December 3118000 Finished goods, January 160000 Finished goods, December 3148000 Raw materials purchases2000000 Direct labor890000 Factory utilities225000 Indirect labor75000 Factory depreciation500000 Operating expenses630000

Answers

Answer:

The cost of direct materials used is $1,970,000.

Explanation:

The cost of direct materials used can be computed using the following equation:

Cost of direct materials used = Raw materials inventory, January 1 + Raw materials purchases - Raw materials inventory, December 31 ............ (1)

Where;

Raw materials inventory, January 1 = $25000

Raw materials inventory, December 31 = $55000

Raw materials purchases = $2000000

Substituting the values into equation (1), we have:

Cost of direct materials used = $25000 + $2000000 - $55000 = $1,970,000

Therefore, the cost of direct materials used is $1,970,000.

Which of the following explains why businesses often use graphics
to warn workers of dangerous situations?

Answers

Answer:

There are no options listed, but a can cite a few reasons why companies use graphic signs:

statistically, the number of work related injuries decrease as the level of safety signage increases. visual signs are extremely effective ways of communicating, and when it comes to dangerous activities, their effectiveness increases. people tend to pay more attention to graphic signs than to written signs, that is the same reason why signs and logos are placed outside a company in order to identify it.graphic signs are very easy to recognize and associate. graphic signs do not need further or complex explanations, i.e. a picture is worth more than 1,000 words.and a long list of etc.

In 1926, Nedda McGrath became the first female
O copywriter
O art director
O editor
O graphic designer

Answers

Answer:

art director

Explanation:

ART DIRECTOR

Universal Containers' contact center manager needs to measure the following metrics: - Agent productivity - Customer satisfaction Which report should a consultant recommend?
a. Average speed to answer
b. First contact resolution
c. Escalation rate
d. Average handle time

Answers

Answer: Average handle time

First contact resolution

Explanation:

Since the center manager needs to measure the productivity of the agent and the customer satisfaction, the report that should be recommended by a consultant would be the average handle time and the first contact resolution.

The average handle time shows the time taken for a transaction to be completed. This can be used to determine the productivity of agents. Also, first contact resolution can be used to determine customer satisfaction as it shows the number if queries that were successfully resolved.

The following amounts represent totals from the first three years of operations. Calculate the balance of Retained Earnings at the end of 2021. 2019 2020 2021 Net Income (loss) $ 1,200 $ (500 ) $ 2,300 Net Cash Flows $ 500 $ 300 $ 2,800 Dividends $ 200 $ 0 $ 200 Issuance of Stock $ 2,000 $ 0 $ 0

Answers

Answer:

$2,600

Explanation:

         Statement of Retained earnings

                                            2019      2020       2021

Beginning balance                $0         $1,000       $500

Add: Net Income (Loss)      $1,200    ($500)       $2,300

Less: Dividends                  $200        $0           $200

Ending balance                 $1,000      $500       $2,600

Note: The ending balance of each year is c/f as beginning balance for the subsequent year

Drag each example to the corresponding step in the new-product development process.
1. Idea Generation
2. Concept Testing
3. Product Development
4. Market Testing
5. Product Launch
6. Evaluation of Results
A. Samples
B. Big box
C. Brainstorm
D. Prototypes
E. Strong sales
F. Presentation

Answers

Answer:

1. Idea Generation  ⇒ C. Brainstorm

Brainstorming is a process used to generate a large number of ideas where participating members contribute with any ideas that they can come up with.

2. Concept Testing  ⇒  B. Big box

3. Product Development   ⇒ D. Prototypes

When a company is developing a product, the firs thing that they will come up with is a prototype of the product.

4. Market Testing   ⇒ A. Samples

Free samples are important when you are testing a new product, e.g. handing out free samples

5. Product Launch   ⇒ F. Presentation

The formal presentation of a product takes place when the product is launched into the market.

6. Evaluation of Results  ⇒ E. Strong sales

The way that a company can evaluate if a product was accepted or not by the market is to see their sales records, if sales are strong, then the product was accepted.

Ken just purchased new furniture for his house at a cost of $16,700. The loan calls for weekly payments for the next 6 years at an annual interest rate of 11.17 percent. How much are his weekly payments

Answers

Answer: $73.51

Explanation:

No. of periods = 6 * 52 weeks = 312 weeks

Weekly Interest rate = 11.17%/52 = 0.2148%

Weekly Payment = Cost * (rate / ( 1 - ( 1 + r ) ^ -n))

= 16,700 * (0.2148% / (1 - (1 + 0.2148%)⁻³¹²))

= $73.51

Becky wants to have $2,000 for spending money on vacation in 2 years. How much does she need to put in the bank today at 5% to have the the $2,000 in 2 years?

Answers

Answer:

the amount that need to put in the bank today is $1,814.059

Explanation:

The computation of the amount that need to put in the bank today i.e. present value is shown below

As we know that

Future value = Present value × (1 + rate of interest)^number of years

$2,000 = Present value × (1 + 0.05)^2

$2,000 = Present value × 1.05^2

So, the present value is $1,814.059

hence, the amount that need to put in the bank today is $1,814.059

Consider the four-step process that many companies follow to estimate the market demand curve for their product. Place the steps in order, with the first step in the highest position and the last step in the lowest position.a. survey customersb. plot the demand curvec. scale up the quantities demanded by the survey respondentsd. add up the total quantity demanded by the customers at each price point

Answers

Answer:

The four-step process that many companies follow to estimate the market demand curve for their products are:

a. survey customers

d. add up the total quantity demanded by the customers at each price

c. scale up the quantities demanded by the survey respondents

b. plot the demand curve

Explanation:

The above steps enable the companies to estimate the market demand for their products.  They also segment the demand to ascertain the segments that will perform better than others.  The behavior of consumers is modeled during the estimation to verify how the price of the product, consumer income, or any other variables will impact the market demand.

Indicate whether each of the following actions represents foreign direct investment or foreign portfolio investment.

a. Opening a retail store in a foreign country
b. Buying corporate stock in a retail chain in a foreign country

Answers

Answer: a. Foreign direct investment

b. Foreign portfolio investment

Explanation:

a. Opening a retail store in a foreign country is a foreign direct investment. This simply means a scenario whereby one establishes a business in another country that is different from ones own country. For example an American establishing a business in Japan is a foreign direct investment.

b. Buying corporate stock in a retail chain in a foreign country is a foreign portfolio investment. This is a situation when one buys shares, bonds etc in another country.

Your neighbor borrowed your new lawn mower and used it to trim his rock garden thus destroying it. Your lawn mower which cost you $100 at Home Depot. Your neighbor refuses to pay for it. You have to sue him in a Texas court to be compensated for your loss. What court will you go to

Answers

Answer: District court

Explanation:

In this scenario, since the neighbor have to be sued in a Texas court so as to be compensated for the loss that was incurred, the district court can handle this.

It should be noted that most district courts are usually courts that handle small cases such as this like domestic related cases or probably cases involving little crimes.

In this case, the district court can handle the lawsuit because the neighbor must be sued in a Texas court to be reimbursed for the loss. It should be noted that most district courts handle tiny cases like these, such as domestic violence situations or likely instances involving minor offenses.

So, the District Court is the correct court I can sue my neighbor in.

About District Court in Texas:

Texas district courts are the state's general jurisdiction trial courts. The Legislature determines the geographical region served by each court, but each county must have at least one district court.

Several counties may be served by a single district court in sparsely populated portions of the state, whereas an urban country may be served by multiple district courts.

In felony criminal cases, divorce cases, cases involving title to land, election contest cases, and civil issues involving a sum of money or damages of $200 or more, district courts have initial jurisdiction.

For more information about District Court refer to the link:

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If you observe suspicious activity relating to a client's application for a financial product, you must notify your Team Leader, District General Manager, or Franchisee immediately.
a. True
b. False

Answers

Answer:

True

Explanation:

In simple words, every individual working in the fiance industry have a moral obligation and rules to follow. Under these obligations the individuals have some duties to clients as per which if the worker see something inappropriate regarding the activity of their client, he or she should first report to their immediate supervisor or take outside suggestion before going to the authorities.

Hence the given statement is true.

Helen,a manager for Marshall Manufacturing,spends much of her time reviewing the global,technological,socio-cultural,competitive,and economic factors that can influence the success of her firm's marketing efforts.Helen's efforts indicate that she is involved with environmental scanning. Environmental scanning is the process of identifying the factors than can affect marketing success.

a. True
b. False

Answers

Answer:

a. True

Explanation:

The environment scanning means the scanning of the environment. In this, the information is collected with respect to the events and their relationship of an organization that could be internal and external. The main motive of this is to be measure the direction of the organization in near future

Also it identified the factor that impacts the success of the marketing

Therefore the given statement is true

In 2020, Monty Corporation had net cash provided by operating activities of $486,000, net cash used by investing activities of $976,000, and net cash provided by financing activities of $627,000. At January 1, 2020, the cash balance was $348,000. Compute December 31, 2020, cash. Cash, December 31, 2020

Answers

Answer:

Monty Corporation

Computation of Cash at December 31, 2020:

$485,000.

Explanation:

a) Data and Calculations:

Net cash provided by operating activities = $486,000

Net cash used by investing activities =         (976,000)

Net cash provided by financing activities = $627,000

Net cash inflow =                                           $ 137,000

January 1, 2020 Cash balance                       348,000

December 31, 2020 Cash balance              $485,000

b) The above implies that Monty made more (cash inflow) cash of $137,000 between January 1, 2020 and December 31, 2020.  This is added to the January 1, 2020 cash balance to arrive at the December 31, 2020 cash balance.

Which of the following people would likely be issued an order for specific performance or an injunction, rather than a monetary award?
a.) Franco hires a builder to build his new house. After a year of construction, Franco moves in and discovers that the workmanship is subpar and many parts of the house violate the building code. Franco sues the builder for breach of contract.
b.) Alicia, an artist, has a signed contract with one of her patrons that promises them the right of first refusal for any sculpture she completes. When she finishes her latest sculpture, she wants to sell it to another friend for $75,000 instead. The patron sues Alicia for breach of contract.
c.) Teagan owns an appliance store, and he decides to bend his usual store policy by allowing Pierce to buy a new refrigerator with a personal check. When the check bounces and Pierce refuses to pay with cash, Teagan sues Pierce for breach of contract.
d.) Julie buys a used laptop from a local computer repair shop for $350. When she gets the computer home, she discovers it doesn't work. The shop refuses to repair the computer or refund her money, so Julie sues the shop for breach of contract.

Answers

Answer: b. Alicia, an artist, has a signed contract with one of her patrons that promises them the right of first refusal for any sculpture she completes. When she finishes her latest sculpture, she wants to sell it to another friend for $75,000 instead. The patron sues Alicia for breach of contract.

Explanation:

An injunction is a judicial order whereby an individual is restrained from either starting or continuing a particular action whereby the legal right of an economic entity is being threatened. In such case, the person involved must do what is expected of him or her.

In the scenario in the question, the person that is likely be issued an order for specific performance or an injunction, rather than a monetary award is Alicia, an artist, has a signed contract with one of her patrons that promises them the right of first refusal for any sculpture she completes. When she finishes her latest sculpture, she wants to sell it to another friend for $75,000 instead. The patron sues Alicia for breach of contract.

Social responsibility is know as ______.
A. profit and planet
B. people and community
C. none of the options are correct
D.people and profit

Answers

Answer:

B. people and community

Explanation:

Social responsibility is known as people and community. In other words it refers to any and all responsibilities that you may have when being part of a community or society to make that community better. This involves a wide range of responsibilities or obligations such as volunteering, cooperating with others, ethical and moral choices, etc. Anything that benefits the larger structure that you are part of would be considered a social responsibility.

The term that can be used to describe Social responsibility isB:people and community

Social responsibility  can be regarded as ethical framework as well as suggests, which explains that there are different obligation for individual so they can  work and cooperate with other.

It involves different individuals and the community as a whole and all organizations.

Therefore, option B is correct.

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Jubilee's Bakery is budgeting cash for 2017. The cash balance at December 31, 2016, was $6,000. Jubilee's Bakery budgets 2017 cash receipts at $81,000. Estimated cash payments include $44,000 for inventory, $34,000 for operating expenses, and $15,000 to expand the store. Jubilee's Bakery needs a minimum cash balance of $13,000 at all times. Jubilee's Bakery expects to earn net income of $76,000 during 2017. What is the final result of the company's cash budget for 2017?
A. Must arrange new financing for $19,000
B. There is $19,000 available for additional investments.
C. Pay off $38,000 of debt.
D. There is $38,000 available for additional investments.

Answers

Answer: B. There is $19,000 available for additional investments.

Explanation:

Cash Receipts both Estimated and available

= Beginning balance + budget receipts

= 6,000 + 81,000

= $87,000

Cash payments

= 44,000 + 34,000 + 15,000

= $93,000

Additional financing required = Cash receipts - Cash payment - minimum cash balance

= 87,000 - 93,000 - 13,000

= -$19,000

Which of the following has made communication within teams more dificult in recent years?
O advancements in technology
O an increasingly global society
O a cuture of disrespect
O declining professionalism

Answers

Answer:

an increasingly global society

Explanation:

An increasingly global society or globalization has led to increased interactions between people from different countries. Improvements in transport networks have made it easy for goods, people, and technology to move across borders. Globalization has made economies depend on each other, which has necessitated relaxation on border restrictions.

Due to globalization, it is common to find people from different nationalities living and working in a country. Consequently, organizations have teams composed of people from different regions.  Diversity in the workplace has meant the inclusion of different backgrounds in the workforce. As a result, communications have become more challenging due to language barriers and differences in cultural beliefs and practices.

If there is a scarcity of supply in potatoes and many people want to buy, the prices is likely to be​

Answers

The price of potatoes will go up. Due to the fact of being low on the supply of potatoes. While tons of people wants to buy some potatoes. So if they want it bad enough, they will pay a more expensive price which results in the prices rising.

Byron Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $103,000. The equipment will have an initial cost of $423,000 and have a 5-year life. The salvage value of the equipment is estimated to be $80,000. If the hurdle rate is 12%, what is the approximate net present value

Answers

Answer:

The approximate net present value is $41,005.

Explanation:

Note: See the attached excel file for the calculation of the net present value (in red color).

In the attached excel file, the following are used:

n = The particular year in reference

r = hurdle rate = 12%, or 0.12

The approximate net present value is therefore calculate by adding all the present values in the attached excel file from year 0 to year 6 to obtain $41,005.

Research the challenges associated with payments across international borders and prepare a brief summary of your findings. Do most e-commerce companies conduct business internationally

Answers

Answer:

The main challenge associated with payments across international borders is the challenge of currency rates. Because currencies vary across countries, sometimes a payment can be either hugely benefitial or hugely detrimental for a company, depending on how expensive or cheap its domestic currency is compared to the foreign currency.

Another challenge is related to international legislation, banking systems, red tape, and so on. Banking laws in some countries are more favorable to firms than in others, for example, by charging less financial expenses or comissions.

If Jane is not maximizing her utility with the original purchase, remembering the Law of Diminishing Marginal Utility, would she be better off buying one less fries and one more chicken sandwich? Explain your reasoning and show any calculations.

Answers

Answer:

Since Jane's marginal utility per dollar spent is much greater for chicken sandwiches, that means that she is not maximizing her utility by purchasing fries. Instead of buying the third order of fries she should buy another chicken sandwich. The third order of fries only yields 3 utils per dollar. We are not given the exact utils per dollar of the fourth chicken sandwich, but the third one yielded 15 utils per dollar and the marginal decline is not that steep. The important number is the utils per dollar, not the price of the goods.

Expansionary fiscal policy that creates a budget deficit can lead to crowding out. This crowding out effect is exhibited by A. increased taxes and increased investment. B. increased government expenditures and decreased interest rates. C. increased government expenditures and decreased investment. D. decreased government expenditures and decreased investment.

Answers

Answer:  C. increased government expenditures and decreased investment.

Explanation:

Crowding out refers to a scenario where the Government borrows so much from loanable fund sources that there is little left for the private sector to borrow which leads to higher interest rates that they would be unable to borrow at.

This is reflected by the government being able to spend the money they borrowed leading to increased government expenditure but investment spending will decrease because the private sector was unable to secure loans to do so.

As the cost of storage continues to decrease, SANs are emerging to be a better storage and data protection alternative for _______.

a. Enterprise Computing
b. Cloud Computing
c. SMBs
d. Secured Access

Answers

Answer:

a. Enterprise Computing

Explanation:

Remember, it is Enterprises that are most often concerned about data protection alternatives. Hence, SANs (Storage Area Networks) are providing improved data protection, by connecting several networks together using an enterprise-centered design approach.

This technology has indeed acted as a cost-effective storage alternative for some enterprises today.

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