Answer:
The deductible expense = $570
Explanation:
First, the question is not complete, the complete question is as follows
Gwen, an independent consultant, traveled to New York City on a business trip. Gwen spent 4 days in business meetings and conferences and then spent 2 days sightseeing in the area. Gwen's plane fare for the trip was $250. Meals cost $160 per day. Hotels and other incidental expenses amounted to $250 per day.Gwen was not reimbursed by her employer for any expenses. Her AGI for the year is $50,000 and she itemizes but has no other miscellaneous itemized deductions. Gwen may deduct (after limitations).
Solution
How much is the plane fare $250
How much was spent on means $640 (160 a day x 4 days)
Subtract: 50% of meal costs ($320) 0.5 x 640
Hotel Expense was $1,000 ($250 x 4 days)
The total is $1,570
Subtract 2% of the AGI <u> $1,000</u> (0.02 x 50,000)
The final deductible expense $570
This means the amount that Gwen can deduct from the expenses for the trip after the limitations as calculated above is $570
The answer is false. introverts recharge their energy by themselves
Answer:
$68,000
Explanation:
The long-term note payable is a debt that is formally established through a written agreement. An example of long-term note payable is a bank loan.
When the principal and the interests of a long-term note are paid, they represent Cash outflows from the business and are recorded in the Cashflow Statement. However, their treatments are different. Another way to put it is that they bring a reduction in the cash of the organisation.
The $68,000 principal amount paid is an outflow from the company that is recorded in the financing activity section of the Cash Flow Statement
The Interest of $5,440 is also an outflow from the business but it is reported in the operating activity section of the Cash Flow Statement. The reason for its report is that it is actually reported in the Organisation's Statement of Income as an expense for the year. It, therefore, qualifies as an operating activity expense or outflow.
The answer would be the stock price will decrease. The reason behind this is the original price replicates an expectation or looking forward of a 25% upsurge in the company’s earnings. The actual increase is a dissatisfaction compared to original expectations.
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