User Account

All Pages

What is the amount of thomas charitable contribution

Assignment Help Accounting Basics
Reference no: EM132084004

Question - In March of 2015, Thomas makes a $5,000 cash contribution to a public university. In that month, he also donates $20,000 to an organization subject to the 30 percent limitation. Thomas has adjusted gross income for 2015 of $35,000. What is the amount of Thomas's 2015 charitable contribution deduction? (show work)

a. $5,000

b. $23,000

c. $10,500

d. $15,500

e. None of the above

Reference no: EM132084004

Questions Cloud

What is the most important risk in investing : Provide an example or evidence to support your position. What is the most important risk in investing in the financial futures market?
Solve for the minimal cost solution using graphical method : Solve for the minimal cost solution using the graphical method , and determine the associated costs.
What were the challenges and advantages to using outlines : Discuss your experience using outlines on past projects or at work. What were the challenges and advantages to using outlines?
Successful cyber security policy : What three to five actions are needed within an organization to ensure successful cyber security policy?
What is the amount of thomas charitable contribution : Thomas has adjusted gross income for 2015 of $35,000. What is the amount of Thomas's 2015 charitable contribution deduction
What is meant by term speciation : What is meant by term "Speciation"? What is the origin and how does it apply to technology business?
Process of implementing a new information system : What are examples of additional resources that will expedite the process of implementing a new information system.
What would be the impact on profits : Contreras Company has a capacity of 40,000 units per year and is currently selling 35,000 for $400 each. What would be the impact on profits
Prepare a report that you will share with your partner : Prepare a report that you will share with your partner and your board of directors.

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: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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