During the year, Arlene donates stock she had purchased in 2005 for $30,000 to a qualified public charitable organization. The fair market value of the stock at the time of the donation is $40,000. Her adjusted gross income for the year is $80,000. If the stock donation is her only charitable contribution, what is Arlene's charitable contribution deduction? What should she consider in determining the amount of the deduction?
What will be an ideal response?
If Arlene values her charitable contribution at fair market value, the deduction would be limited to 30 percent of AGI. In this case, her current deduction would be limited to $24,000 (30%×$80,000), with the remaining $16,000 carried forward for 5 years. Arlene has the option of measuring the amount of her contribution at her adjusted basis, $30,000 if she wants to use the 60% AGI limit. This would give her a larger current deduction, but there would be no remaining amount to carry forward. Using the additional $6,000 this year is probably not as advantageous as having the $16,000 available to carry forward. Factors to consider would include future earnings, marginal tax rates, planned charitable contributions, and the time value of money.
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On September 12, Ryan Company sold merchandise in the amount of $7200 to Johnson Company, with credit terms of 2.00/10, n/30. The cost of the items sold is $4700. Johnson uses the periodic inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is:
A.
| Accounts payable | 7200? | |
| Merchandise inventory | 7200? |
B.
| Purchases | 7056? | |
| Accounts payable | 7056? |
C.
| Merchandise inventory | 4700? | |
| Accounts payable | 4700? |
D.
| Purchases | 7200? | |
| Accounts payable | 7200? |
E.
| Merchandise inventory | 7056? | |
| Accounts payable | 7056? |
Short-range capacity planning includes all of the following except?
a. A time horizon of at least one year b. Worker scheduling c. Scheduling of jobs d. Allocation of equipment to jobs
Rick is attending a training session on communication skills at work. The session is being conducted by a famous life-skills coach from another country. Rick is distracted by the speaker's accent and style of speaking because it is so different. In this situation, which of the following actions should Rick take to ensure that his listening is maximized?
A. He should maintain his mental focus on the speaker's message. B. He should turn away from the speaker so that he can listen more carefully. C. He should leave the training session. D. He should maintain less eye contact so that he can listen more actively.
Printed handouts are useful for all of the following reasons except
A) they can effectively communicate complex information such as statistical tables. B) they can substitute for slides shown during a presentation. C) they serve as a permanent record of the key points discussed during the presentation. D) they reduce the need for audience members to take detailed notes during the presentation. E) they help the audience follow along during the presentation.