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Roberta is an accountant employed by a local firm. During the year, Roberta incurs the following unreimbursed expenses:
Item AmountTravel to client locations $750Subscriptions to professional journals 215Taking potential clients to lunch 400Photocopying 60
a. Identify which of these expenses are deductible and the amount that is deductible. Indicate whether they are deductible for or from AGI.
b. Would the answers to Part a. change if the accounting firm reimburses Roberta for there expenses?
c. Assume all of the same facts as in Part a., except that Roberta is self-employed. Identify which of the expenses are deductible, and indicate whether they are deductions for or from AGI.
Additionally, Spartan Manufacturind has 100,000 shares of common stock currently valued at $6,000,000 that represents 85% of the firm's equity. Given this information, what is Spartan Manufacturing's Equity Multiplier?
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A one-year U.S. Treasury security has a nominal interest rate of 2.25 percent. If the expected real rate of interest is 1.5 percent what is the expect annual inflation rate?
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Which of the following is not required for the recognition of revenue?
Ratio measures the proportion of total assets financed by the firm's creditors - measure of a company's performance and condition.
Illustrate out the term present value? Find out the future value of $1,000 invested for ten years at ten percent interest compounded annually?
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