beth bought 15 tickets to a movie. where adult tickets cost $6.00 and senior citizen tickets cost $4.00. She spent a total of $76. What system of equation will determine the number of adult tickets, a, and the number of senior tickets, s, Beth purchased
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- Kim works for a clothing manufacturer as a dress designer. During 2020, she travels to New York City to attend five days of fashion shows and then spends three days sightseeing. Her expenses are as follows: Airfare $1,300 Lodging (8 nights) 1,690 Meals (8 days) 1,560 Airport transportation 125 Assume lodging/meals are the same amount for the business and personal portion of the trip ($211 per day for lodging and $195 per day for meals). If an amount is zero, enter "0". If required, round all interim calculations to nearest dollar. a. Determine Kim's business expenses, presuming no reimbursement. Airfare $ Lodging Meals Transportation Total $ What amount may she deduct on her tax return?$ b. Would the tax treatment of Kim's deduction differ if she was an independent contractor?The deductible expenses would be $______________ and the expenses would be classified as a deduction for AGI…On march 4 she spent $20 on a lottery ticket, on mrach 7 she won $ 265000 in the lottery. on march 10 she deposited $80000 in a business chequing account, on march 14 she made a down payment of $150000 from her personal funds plus a home mortgage of $240000. on march 15 she signed a rental agreement for her office for $2000 per month starting march 15, she paid 1st month rent and rest on 15th of every month. on march 19, she hired a receptionist for $725 a week starting march 24, she bought office equipement for $8000. on march 21, she purchased $225 of supplies on account. on march 24 she purchased $6700 of equipment for $3000 plus a $3700 note payable due in 6 months. On march 31 she performed $3700 of legal services on account . On march 31 she received $2500 cash for legal services to be provided in april. On march 31 she paid her receptionist $725 for the week , On march 31 she paid $225 for the supplies purchased on march 21. prepare a tabular analysis of the effects of above…Nate and Joe have been friends since grade school and decided to go on a skiing trip to Stowe, Vermont this January.The estimated the following for the trip: Expense Estimated Costs Allocation Base Activity Allocation (Nate) Activity Allocation (Joe) Food $580.00 Number of meals eaten 10 18 Skiing $210.00 Number of lift tickets 3 0 Lodging $810.00 Number of nights 5 5 Total $1,600.00 (Round your answers to two decimal places when needed and use rounded answers for all future calculations).
- Melissa recently paid $400 for round-trip airfare to San Francisco to attend a business conference for three days. Melissa also paid the following expenses: $250 fee to register for the conference, $300 per night for three nights' lodging, $200 for meals in restaurants, and $150 for cab fare. a) What amount of these costs can Melissa deduct as business expenses? b) Suppose that while Melissa was on the coast, she also spent two days sightseeing the national parks in the area. To do the sightseeing, she paid $1,000 for transportation, $800 for lodging, and $450 for meals during this part of her trip, which she considers personal in nature. What amount of these costs can Melissa deduct as business expenses? c) Suppose that Melissa made the trip to San Francisco primarily to visit the national parks and only attended the business conference as an incidental benefit of being present on the coast at that time. What amount of the airfare can Melissa deduct as a business expense? d) Suppose…Wanda is a backup vocalist who sings with multiple recording artists; she lives and works in Atlanta. In 2020, she sang for 6 months at a casino residency in Connecticut with one artist and did various studio work in Atlanta. She earned a total of $48,000 for the year. Her room and most of her meals were included at the residency, but she spent $432 on tips, airfare of $4,435, and $1,100 on food while traveling. While in Atlanta, she paid $300 on parking and $175 for tolls. She kept all receipts. How much can she claim on her Form 2106? $6,442 $5,967 $5,342 $0Melissa recently paid $760 for round trip airfare to San Francisco to attend a business conference for three days. Melissa also put the following expenses: $370 fee to register for the conference, $365 per night for three nights' lodging, $250 for meals and $300 for can fare. what amount of these costs can Melissa deduct as business expenses. Explain the answer
- Kerianne paints landscapes, and in late 2018 placed four paintings with a retail price of $250 each in the Holmstrom Gallery. Kerianne’s arrangement with Holmstrom is that Holmstrom will earn a 20% commission onpaintings sold to gallery patrons. As of December 31, 2018, one painting had been sold by Holmstrom to gallerypatrons. How much revenue with respect to these four paintings should Kerianne recognize in 2018?Ryan, an agent, was able to sell Mikoy Frozen Products worth 50,000.00. Given her commission of 10%. How much will he receive if his earnings are based on commission alone? a. 7,200.00 b. 7,300.00 c. 7,400.00 d. 7,500.00On July 1, 2016, Rex purchases a new automobile for $43,000. He uses the car 84% for business and drives the car as follows: 12,000 miles in 2016, 30,000 miles in 2017, 33,600 miles in 2018, and 24,000 miles in 2019. Determine Rex's basis in the business portion of the auto as of January 1, 2020, under the following assumptions: If required, round your computations to the nearest dollar. a. Rex uses the automatic mileage method. Compute his basis adjustments for depreciation for each year. Click here to access the basis adjustment table. 2016: $ 2017: $ 2018: $ 2019: $ Rex's adjusted basis in the auto on January 1, 2020, is $ b. Rex uses the actual cost method. [Assume that no § 179 expensing is claimed and that 200% declining-balance cost recovery with the half-year convention is used. The recovery limitation for an auto placed in service in 2016 is as follows: $3,160 (first year), $5,100 (second year), $3,050 (third year), and $1,875 (fourth year).] Compute his…
- Dilly’s dream was to open a cookie shop, so she did her homework carefully be-fore finally opening “Dilly’s Delights” on July 1, 2019. Before that date she had incurred the following “soft costs” – $12,000 realtor’s fee for finding a storefront to rent, $16,000 attorneys’ fees for negotiating a lease and trademark services, $8,000 wage expense for employees during the pre-opening period, and $18,000 for pre-opening TV and other advertising. Calculate and state the exact amount that you, in preparing Dilly’s 2019 return, will enter as her 2019 start-up costs deduction.Dilly’s dream was to open a cookie shop, so she did her homework carefully be-fore finally opening “Dilly’s Delights” on July 1, 2019. Before that date she had incurred the following “soft costs” – $12,000 realtor’s fee for finding a storefront to rent, $16,000 attorneys’ fees for negotiating a lease and trademark services, $8,000 wage expense for employees during the pre-opening period, and $18,000 for pre-opening TV and other advertising. Calculate and state the exact amount that you, in preparing Dilly’s 2019 return, will enter as her 2019 start-up costs deduction. Note: There’s no useful reason to show your work here because there’s only one correct dollar-amount answer; no explanation of an incorrect answer will help.Floyd owns an antique shop. During the year, he and his wife, Amanda, who works as a real estate broker, attend a 3-day antique show in Boston. The following facts are related to the trip: Train per person $ 110 Hotel daily rate—double occupancy * 115 Meals—$37 per day per person 37 Incidentals—$14 per day per person 14 *The hotel rate for double occupancy is $20 more than the single occupancy rate. What amount can Floyd and Amanda deduct as travel expense, rounded to the nearest dollar?