User Account

All Pages

What is the amount of the charitable contribution deduction

Assignment Help Accounting Basics
Reference no: EM132064853

Question - XXX Company manufactures and sells furnishings for hospitals. In the current year, it donates some of its inventory to a newly constructed hospice. The hospice is adjacent to a cancer treatment center and is intended to care for indigent and terminal patients. The property donated has an adjusted basis of $40,000 and a fair market value of $90,000. What is the amount of the charitable contribution deduction if XXX Company is a:

a. Sole proprietorship?

b. C corporation

c. Would answer to (b) change if the fair market value of the property was $121,000 (not $90,000)?

Reference no: EM132064853

Questions Cloud

Research literature review : In this assignment you will be given a topic to research and will need to provide an in-depth analysis of how it applies to you. The topic is "Resilience".
Materials engineering at the international islamic : WHEN Mohd Izzani Jasmani was pursuing a degree in materials engineering at the International Islamic University of Malaysia (IIUM) Gombak campus in Selangor
Supervisory and regulatory authority of the federal reserve : Discuss the supervisory and regulatory authority of the Federal Reserve.
What is the holding period yield on your investment : If you actually sell the bond before it matures, your realized return is known as the holding period yield (HPY).
What is the amount of the charitable contribution deduction : XXX Company manufactures and sells furnishings for hospitals. What is the amount of the charitable contribution deduction if XXX Company is a
What amount must you deposit each year : If the account pays 6.30 percent interest, what amount must you deposit each year?
Can matthew deduct the loss on the sale of the xerox stock : Matthew sold 200 shares of Xerox stock on December 23, 2012. Can Matthew deduct the loss on the sale of the Xerox stock
Control problems in the system : Identify any control problems in the system and what sorts of fraud are possible in this system?
How much money will they have saved : If they can save $3,000 per year for the next 20 years at a compound interest rate of 4.0%, how much money will they have saved?

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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