Stork Associates paid $60,000 for a 20-seat skybox at Veterans Stadium for eight professional football games. Regular seats to these games range from $80 to $250 each. At one game, an employee of Stork entertained 18 clients. Stork furnished food and beverages for the event at a cost of $1,300. The game was preceded by a bona fide business discussion, and all expenses are adequately substantiated.a. Stork can deduct $ for this event.b. If there was no bona fide business discussion either preceding or after the event, there is and the deduction would be $.

Answers

Answer 1

a. Based on the information given Stork can deduct $3,150 for this event.

b. There is no entertainment option and the deduction would be cost of ticket.

a. Stock deduction

Costs of seats $5,000

($250x20)

Food and beverage $1,300  

Total Entertainment expense $6,300

($5,000+$1,300)

Less 50% Limitation

Deduction $3,150

($6,300×.50)

b. If there was no bona fide business discussion either preceding or after the event, there is no entertainment option and the deduction would be cost of ticket.

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Answer 2

Answer: $1300.00

Explanation: If this is for 2021 & 2022 then the employer can deduct all of the food and beverage -

However, taxpayers still may deduct some or all of the food and beverage expenses associated with operating their trade or business (e.g., a business meal with a current or potential client, or meals consumed by employees on work travel). In general, only 50 percent of food and beverage expenses can be deducted.

However, given the impact of the COVID-19 pandemic on restaurants, Congress provided a temporary 100 percent deduction for meals and beverages provided by a restaurant in 2021 and 2022.


Related Questions

at the core of the erp system is a _______________ that is shared by all users so that all business functions have access to current and consistent data for operational decision making and planning.

Answers

At the core of the erp system is a database that is shared by all users so that all business functions have access to current and consistent data for operational decision-making and planning.

It should be noted that a database is known as the core of the Enterprise Planning System. It is accessible by all the users in the decision-making and planning of an organization.

Also, a database can be accessed by all users so that they'll be able to take important decisions that will have an impact on the organization. Therefore, at the core of the erp system is a database that is shared by all users.

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Car dealerships commonly measure website performance by tracking visits, visitor traffic, and ________, the amount of time per month visitors spend on their website.

Answers

Car dealerships commonly measure websites by tracking visits,

visitor traffic, and stickiness, the amount of time per month visitors spend on

their website.

Websites are generally used to advertise the goods and services of a

company and the website activity are usually measured through some

factors.

The factors include number of visits to the website and the amount of time

spent on them. The stickiness which is how friendly and enticing the

websites are is also taken into consideration.

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Answer: Stickiness is the answer

true or false? credit balances will appear on the ledger as a positive balance.

Answers

Answer:

true

Explanation:

1. Many media outlets have reported extensively on the long wait times for veterans seeking medical attention through VA hospitals. Several of those outlets neglected to cover the federal corruption and bureaucratic difficulties that led to the poor care of veterans. This is an example of

Answers

Answer:

Bias by omission

Explanation:

This is an example of bias by omission. Bias by omission occurs when a media outlet leaves out one side of a story or one aspect of a story.

What happens to total revenue (TR) if the price rises on a product with demand that is price inelastic

Answers

Answer:

rrokokokkoko

Explanation:nfjnjnrjnfjnrjnfjrnfjnrjfnrjnfjrnfjnrjnfjnrjfnjrnfjrnfjenfekrenkenfeknfekrjf nkj

An entity must adjust its financial statement for an event that occurs after the end of the reporting period if:

Answers

ccgyhjvvydgyeyeaeyjwe

If Kenneth wants to benefit from his company health insurance, he is allowed to visit only doctors who are in the company's network of providers. This type of coverage is known as a _____.

Answers

This type of coverage is known as Exclusive Provider Organization (EPO): A managed care plan that provides benefits only if care is rendered by providers within a specific network.

There are also other types of cover listed bellow:

Preferred Provider Organisation (PPO)Point-of-Service (POS) PlanStaff Model HMONetwork Model HMOIndividual Practice Association (IPA) Model HMOGroup Model HMO

What is an HMO?

Health Maintenance Organisation:

This can be defined as an organisation that provides health coverage of designated health services needed by plan members for a fixed prepaid premium.

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part partnership part limited company. Owners are members, not partners. They have limited liability and have to make their finances available to the public.

Answers

Answer:

In a limited partnership (LP), at least one partner has unlimited liability—the general partner(s). The other partners (limited partners) have limited liability, meaning their personal assets typically cannot be used to satisfy business debts and liabilities.

Explanation:

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Broadly speaking, there are three arguments against the use of expansionary fiscal policy. Which is NOT one of these arguments

Answers

Answer:

Explanation:

Government spending crowds out private spending only when the economy is operating at full employment

Expansionary fiscal policy should be used during recessions to help build the economy and contractionary fiscal policy should be used when there is high inflation is not one of these arguments. Hence, option C is correct.

What is contractionary fiscal policy?

Governments engage in contractionary fiscal policy when they either cut spending or raise taxes. Its name alludes to the method by which the economy contracts. It limits the amount of money that both businesses and people can spend.

In the United States, contractionary fiscal policy was most recently widely implemented under President Bill Clinton, who increased taxes on the wealthiest Americans and cut expenditure on welfare and defense.

Expansionary fiscal policy, which involves an increase in government spending, a drop in tax revenue, or a combination of the two, is expected to increase economic activity.

Thus, option C is correct.

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The options are missing-

a) Expansionary fiscal policy should be used to increase government revenue and contractionary fiscal policy should be used to increase consumer spending.

b) Expansionary fiscal policy should be used to combat high inflation and contractionary fiscal policy should be used to increase government revenue.

c) Expansionary fiscal policy should be used during recessions to help build the economy and contractionary fiscal policy should be used when there is high inflation.

d) Expansionary fiscal policy should be used to decrease the unemployment rate and contractionary fiscal policy should be used when economic growth is too fast.

_____ deals with reporting to outsiders. _____ accounting deals with the internal operations of the firm.

Answers

Answer:financial accounting, managerial accounting

Explanation:

External reporting is a focus of financial accounting. Managerial accounting is concerned with a company's internal operations.

Why is managerial accounting more suitable for internal reporting?

The information is more precise, timely, and specialized in managerial accounting. Since managerial accounting is not subject to GAAP, there is an infinite amount of flexibility in the kinds of reports and data gathered.

The first type of accounting was financial accounting. It is mostly limited to the creation of financial statements for use by third parties such as creditors, banks, financial institutions, shareholders, and holders of debentures.

Managerial accounting is primarily concerned with assessing the internal requirements of businesses and resolving issues that have an impact on revenue streams, overall financial stability, and long-term profitability.

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Popular weight management organizations, such as Jenny Craig, Overeaters Anonymous, TOPS, and Weight Watchers all ______. Multiple choice question. include education and weekly support charge monthly fees are faith-based group

Answers

Popular weight management organizations, such as Jenny Craig, Overeaters Anonymous, TOPS, and Weight Watchers all: A. include education and weekly support.

A good body composition can be defined as a physical state in which an individual has a well-balanced proportion of body fat and non-fat constituents (mass)

This ultimately implies that, the individual's body fat is in a lesser percentage while the non-fat mass such as organs, bones, muscle, etc., are in a higher percentage.

Generally, you can can develop a good body composition by performing the following:

Exercising regularly and properly.Eating a well-balanced diet.Regularly checking your body mass index (BMI).

Additionally, you should endeavor to read the education and weekly support provided by popular weight management organizations, such as Jenny Craig, Overeaters Anonymous, TOPS, and Weight Watchers.

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gdp is composed of four main categories. which of those categories are the primary target of fiscal policy?

Answers

Answer: government spending, consumption spending.

Explanation: gdp is composed of consumption spending

The category that is the primary target of fiscal policy is the spending of the government.

What is GDP?

The full form of GDP is the Gross Domestic Product. It is a monetary measurement of all the final goods and services produced in a specific time period by countries, and it is the market value of all the final goods and services.

Personal consumption, business investment, government spending, and net exports are the four main categories of the GDP.

The aggregate of the government spending is the primary target of fiscal policy, as fiscal policy increases in the real GDP.

Therefore, the category that targets the fiscal policy is the government spending.

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when respect is missing in communication what is the result?

Answers

Answer:

I think fighting is the result

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marketing is the activities, sets of institutions, and processes that add ______ for customers.

Answers

The process of marketing includes creating, communicating, delivering and exchanging offerings that have value for customers,

Marketing refers to those action undertaken by firm for promoting purpose to facilitate more sales of its products or services.

The main objective of marketing action is to generate revenue for the company.

Therefore, the process of marketing includes creating, communicating, delivering and exchanging offerings that have value for customers.

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Answer:

Value

Explanation:

Marketing adds value for customers.

if abc company receives $100,000 cash in exchange for issuing 100 bonds at their $1,000 face value, the transaction will be recorded with a

Answers

Based on the information the appropriate journal entry to record the transaction is : Debit to cash of $100,000; Credit to bonds payable of $100,000.

Based on the information given we were told that the cash  amount of $100,000 cash was received my the company in exchange for issuing 100 bonds at their $1,000 face value.

Therefore the correct journal entry to record the transaction is:

Debit  Cash  $100,000

Credit Bonds payable  $100,000

(To record bonds payable)

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Etsy Shop: Eclipseshoppee

I FOUND THIS STORE ON ETSY AND IT IS SOOOO AMAZING!!! PLEASE GO CHECK IT OUT FOR YOUR OWN SAKE!!

Answers

Thanks this sounds really cool

Before a response test, a student should
a. Create a study guide
b.Talk to a teacher for study suggestions
c.Formulate potential test questions
d. All of these

Please select the best answer from the choices provided

Answers

Answer:

d

Explanation:

All of these can be useful when taking a test. you should always make a study guide, talk to the teacher, And practice the questions that could be on the test.

1.
a.
Which of the following is NOT true about checking accounts?
A minimum balance must be kept in the account for the term specified?
b. Interest is sometimes paid on checking accounts.
It is okay to run a negative balance in your account as long as you pay the bank back.
d. Checking accounts typically offer lower interest rates than regular savings accounts.
C.

Answers

Answer:

Interest is sometimes paid on checking accounts.

It is okay to run a negative balance in your account as long as you pay the bank back.

Theory X employees find self-engaging activities within the company and are committed to their jobs. Group startsTrue or False

Answers

Theory X employees find self-engaging activities within the company and are committed to their jobs. False

An employee is someone companies lease and pay for work done. employees are labeled as folks who take direction from other experts within the business enterprise. Employers have a certain degree of manipulate over their behaviors, budget, and blessings.

The definition of an employee is a person who works for someone else or a corporation in change for wages or some other agree-to repayment. An instance of an employee is an character who is hired through McDonald's and is paid a sure amount of cash for each hour worked.

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ib econ sl section 3 1. (a) Explain why many governments pursue the macroeconomic goals of low inflation and low unemployment. [20 marks]

Answers

The goals of macroeconomics is to maximize the people's standard of living and to achieve a stable economic growth.

The macroeconomics goals also includes:

minimizing unemploymentincreasing productivitycontrolling inflation etc.

The reason government pursue macroeconomic goals of unemployment is to reduce government borrowing.

The reason government pursue macroeconomic goals of low inflation is to make foreign and domestic firms be more confident and optimistic to invest therein.

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Mercury Group depends heavily on its workforce of software engineers, systems analysts, and coders. Which statement best explains why Mercury Group would offer its employees paid maternity and paternity leave

Answers

The most likely reason why the Mercury Group is offering all these things is that d. It makes the company more attractive to workers who are in high demand

Mercury Group relies on its workforce which means that it has to attract the best. To do so, they need to offer good incentives such as:

Better pay Better non-financial incentives

Paid maternity and paternity leaves are examples of non-financial incentives and offering these would attract good workers to Mercury which would allow them to maintain an edge.

In conclusion, Mercury Group does the above to attract better workers.

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Sales tools like coupons and premiums used to support a company's advertising and personal selling directed to ultimate consumers are referred to as

Answers

Answer:consumer oriented sales promotions

Explanation:

Jerry is using social media to market products directly to end users. this type of marketing is defined as ____

Answers

The use of social media to market products directly to end users is referred

to as business to consumer marketing.

Marketing involves advertising goods and services to the consumers so as

to coerce them into buying in order to increase sales and profit of the

company.

Business to consumer marketing involves direct relationship and contact

with the final consumers and this helps to take into consideration their

preferences and how to improve the products.

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a person with which holland personality type would be a good fit for a career in accounting?

Answers

A person with the conventional Holland personality type would have a good career in accounting.

Such a person would be one that has a likeness with numbers and also loves to record things in an orderly manner.

This person is one who loves working with records in a way that is systematic as well as in an orderly fashion.

People with these characteristics are said to be good in the world of business and are good at setting plans.

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25. Math To make their exports suitable for use in
other countries, U.S. manufacturers must produce
goods that are measured in the metric
system.
For example, if a manufacturer wanted to export
paint, which is sold in gallons in this country, it
would probably export the paint in 4-liter cans
(about 1.4 gallons). To what sizes would the items listed be converted for export to countries using the metric system?

Answers

A metric system simply means the basic units that are used in measurement such as meter, kilogram, second, etc.

Your question is incomplete as you didn't provide the items to be converted. Therefore, an overview of the metric system will be given. The metric system is the system of measurement.

It should be noted that for length, the metric system include meter, centimeter, millimeter, and kilometer. The metric system for weight will be kilograms and grams. The metric system for capacity will be liter and millimeter. The metric system for to include hours, minutes, and seconds.

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An increase in government purchases will increase aggregate demand because A. government expenditures are a component of aggregate demand. B. the decline in the price level will increase demand. C. consumption expenditures are a component of aggregate demand. D. the decline in the interest rate will increase demand.

Answers

An increase in government purchases will increase aggregate demand because government expenditures are a component of aggregate demand.

From the above choices given only choice A gives the best answer.

According to Keynesian theory the aggregate demand is dependent on four components which are government spending, consumption, investment, and net exports.

Government spending increases as government purchases increase.

The increase in government spending increases results in decrease in taxes which in turn affects the aggregate demand.

The increase in consumption increases results only when taxes are decreased which in turn affects the aggregate demand.

From the above choices given only choice A gives the best answer.

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Two of the biggest products the United States receives from other countries are
medical equipment and plastics. What is the term for receiving products from other
countries?

Answers

Importation is the term used to describe the act of buying and securing goods from another country.

Mr. Vernon owns stock in two S corporations, Able Corporation and Benson Incorporated This year, Mr. Vernon had the following income and loss items. Salary $ 74,000 Business income from Able $ 20,000 Business loss from Benson $ (33,000) If Vernon materially participates in Able's business but not in Benson's business, compute his AGI.

Answers

Based on the information given Mr. Vernon  AGI is $94,000.

Using this formula

Adjusted gross income(AGI)=Salary+ Business income from Able

Where:

Salary=$74,000

Business income from Able =$20,000

Let plug in the formula

Adjusted gross income(AGI)=$74,000+$20,000

Adjusted gross income(AGI)=$94,000

Inconclusion Mr. Vernon  AGI is $94,000.

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The troupe’s account balance first reached $500 on Day 4. The last day the account balance was $500 was Day 8. (a)Determine C(5), C(6), and C(7). Explain how you determined these amounts. (b)Estimate C(1), C(2), and C(3). Explain how you determined these amounts. (c)The stage manager said that the amount of money taken out of the account each day between Day 8 and Day 11 was the same amount of money put into the account each day between Day 0 and Day 4. Recall that Day 11 is when the balance first reached $0. Without doing any calculations, how could you show the stage manager was incorrect?.

Answers

Answer:

its 4

Explanation:

In the context of knowledge management, which task is performed by the chief knowledge officer (CKO) in an organization? a. Focusing on gaining and leveraging a keen understanding of consumers b. Ensuring that the organization profits from knowledge resources c. Identifying groups of people based on common interests and recommending products or services d. Ensuring that key knowledge resources are properly collected, stored, and disseminated among the consumers

Answers

Enterprise system is known simply as the  application used throughout the organization to support decision making. Chief knowledge officer (CKO) is known to ensuring that the organization profits from knowledge resources and also ensuring that key knowledge resources are properly collected, stored, and disseminated among the consumers

Chief Knowledge Officer (CKO) is responsible for the following

It is responsible for overseeing knowledge management within an organization. It ensures knowledge resources are properly collected stored, and disseminated among the decision-makers. Ensures organization profits from knowledge resources.

Conclusively, this position was made by organizations because of the importance of  Knowledge.

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