What amount of these expenditures can holly deduct

Assignment Help Accounting Basics
Reference no: EM132042079

Question - After a business meeting with a prospective client, Holly took the client to dinner and the theatre. Holly paid $290 for the meal and $250 for the theatre tickets, amounts that were reasonable under the circumstances. What amount of these expenditures can holly deduct as a business expense

A. 540

B. 415

C. 270

D. None unless Holly discussed business with the client during the meal and entertainment.

E. None-the meals and entertainment are not deductible except during travel.

Reference no: EM132042079

Questions Cloud

Which ratios indicate firm ability to generate returns : Which ratios indicate the firm’s ability to generate returns on its sales, assets, and equity?
Discussion on ethical concepts and values : Sustainable management is an overarching term that generally refers to the ethical, responsible, innovative, 'daring to care' form of management.
Semi-annual coupon bonds be worth : At an interest rate of 6.50%, how much will the $10 million worth of 5-year 6% semi-annual coupon bonds be worth?
What issue related to the field of early childhood : What issue related to the field of early childhood would I most like to influence - What challenge related to the issue would I like to make the focus
What amount of these expenditures can holly deduct : After a business meeting with a prospective client, Holly took the client to dinner and the theatre. What amount of these expenditures can holly deduct
Compute earnings per share : Net income for 2010 was $2,830,000. No cash dividends were declared or paid during 2010. Compute earnings per share for 2010
Write a paper which includes your problem statement : Write a paper which includes your problem statement, purpose, research questions, and proposed method and rationalization of at least 1400 words.
Determine the weighted average number of shares : On January 1, 2010, Chang Corp. had 480,000 shares of common stock outstanding. Determine the weighted average number of shares outstanding as of December
How should the ranges vary by job type and level : MPBS views their mission statement as the driver behind the alignment of policies, purposes and objectives of all operating units in the entire organization.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd