Mr. and Mrs. King had only one casualty loss this year when a tornado (a federally declared disaster) damaged their home, decreasing its value by $70,000. The couple received a $48,000 reimbursement from their insurance company. Compute the Kings' itemized deduction for casualty losses if their AGI was $98,200.
A. $21,900
B. $12,080
C. $60,080
D. $22,000
Answer: B
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When a bond is retired early and the redemption price is greater than the bond's carrying value, there will be a(n) ______________________ on redemption
Fill in the blank(s) with correct word
Widgeon Co manufactures three products: Bales; Tales; and Wales. The selling prices are: $55; $78; and $32, respectively. The variable costs for each product are: $20; $50; and $15, respectively. Each product must go through the same processing in a machine that is limited to 2,000 hours per month. Bales take 7 hours to process, Tales take 4 hours, and Wales take 1 hour. Assuming that Widgeon
produced enough product with the highest contribution margin per unit to use 1,000 hours of machine time. Product demand does not warrant any more production of that product. What is the maximum additional contribution margin that can be realized by utilizing the remaining 1,000 hours on the product with the second highest contribution margin per hour? A) $5,000 B) $7,000 C) $4,000 D) $28,000
"Lemon protection" implies that
A) if the consumer is dissatisfied with the product, the consumer may return the product for a full refund within a year of purchase. B) if the product is defective, the consumer may return the product at any time for a full refund. C) if the defective product cannot be repaired after a reasonable number of attempts, the consumer is entitled to either a replacement or refund. D) producers are protected from the unwarranted return of merchandise by negligent consumers.
The degree to which an individual thinks a union will be successful in improving the workplace is known as ________.
What will be an ideal response?