E1 6. What is the DOL (assuming that $70 per ticket was charged, $15000 was to begiven to tuition help, but that only 700 tickets were sold)? The Faculty Senate is sponsoring the Blue and Gold Gala (a fund-raiser designed toraise money to be used to help pay tuitions of students impacted by the ongoingpandemic). One ticket to the event entitles two persons to enjoy a dinner, attend adance, and receive a coupon to the drawing for a vacation trip to a South Sea Paradise.The sponsoring committee has made the following cost estimates:Fixed costs of the eventVenue rental for the eveningFantastic Five music groupNewspaper Advertising costsPrinting (800 tickets, minimum)Duplicate and mail flyerVacation trip costTotal fixed$100025001001503506000$10100Variable Costs per coupleParty favor per ticket $5.00Dinner for two25.00Waitress tip (15%)3.75Total Variable $33.75

Degree of Operating Leverage: Degree of operating leverage is the measure which shows the change in…

Answered: The Faculty Senate is sponsoring the…

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 2CPA: Jeffrey Dean, a Masters Degree candidate at North State Central University, was awarded a 15,000...

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Suppose your expenses for this term are as follows: tuition: $12,000, room and board: $6,500, books and other educational supplies: $1,500. Further, during the term, you can only work part-time and earn $3,500 instead of your full-time salary of $14,000. What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college? $13,500 $20,000 $24,000 $30,500
A student is buying a new car for$37,000. The sales tax is6%. Title, license, and registration fee is$1250to be paid in cash. The dealer offers95%financing for 48 months at a rate of9%per year compounded monthly. Use both, the tables, and a spreadsheet to calculate each answer.(a) How much cash is paid when the car is purchased? b) How much is the monthly payment?
In his request to defer payment, a man ask to pay 34,317.60 after 60 days for an appliance whose cash prize is 32,580.00. What simple interest rate was charges to him? Answer: 32% Explain every process.
THE ANSWER IS NOT $54,000 On January 1 of year 1, Arthur and Aretha Franklin purchased a home for $1.98 million by paying $280,000 down and borrowing the remaining $1.70 million with a 5.4 percent loan secured by the home. The Franklins paid interest only on the loan for year 1, year 2, and year 3 (unless stated otherwise). (Enter your answers in dollars and not in millions of dollars. Do not round intermediate calculations. Leave no answer blank. Enter zero if applicable.) Problem 14-48 Part b (Algo) b. What is the amount of interest expense the Franklins may deduct in year 2 assuming year 1 is 2020?' THE ANSWER IS NOT $54,000
Subject : Accounting' Your current net worth is $10,000. The following transactions occur: pay expenses of $1,000 and reduce a student loan principal of $3,000. How much will you be worth after the transactions? a. $12,000 b. $9,000 c. $6,000 d. $7,000
A preschool ordered $2050 in books and supplies. Suppose that the bookstore offered the school a loan at 5% simple interest for 2.5 years. How much would the school need to repay the store in a single payment at the end of the term? $256.25 B. $2306.25 C. $2050 D . $265.94 2. Suppose that the bookstore in question 1 offered the school a loan at 5% interest, compounded monthly, for 2.5 years. How much interest would the school need to repay the store in a single payment on the maturity date? $256.25 B. $2306.25 C. $2050 D. $265.94 I need help and the work for both questions. I am confused
a homeowner is selling their home. How much transfer fee is charged at the rate of $1.10 per thousand if the sales price is $770,500 and the net proceeds are $550,000?
2. How much can you deduct for AGI for the following scenarios? Provide explanation for possible partial credit. (Remember that I only ask how much For AGI deduction can you claim in each scenario, I do not ask for the calculation of AGI) • Austin is a Graduate student. His gross income for 2020 is $25k from his Research assistant job. Austin pay $18k for his tuition in 2020 from his out-of-pocket money. • Anna is a non-active, non-managing, partner in AnnaBanana LLC. Her tax basis in the partnership is $10k. Her share of loss from the partnership is $12k. • Allison contribute $4k to her traditional IRA.
what is the correcting entry for.. purchasing equipment for $260,000, paying $60,000 cash, and signing a 5 year 10% note for the remainder
Jeffrey Dean, a Masters Degree candidate at North State Central University, was awarded a 15,000 scholarship from North State Central in the current year. During the current year, he paid the following expenses: In addition, he received 6,000 for teaching two undergraduate accounting courses. What amount must be included in Deans gross income? a. 0 b. 6,000 c. 7,500 d. 21,000
A student has a savings account earning 12% simple interest. She must pay $1250 for first-semester tuition by September 1 and $1250 for second-semester tuition by January 1. How much must she earn in the summer (by September 1) to pay the first-semester bill on time and still have the remainder of her summer earnings grow to $1250 between September 1 and January 1? We need to solve for the principal which is represented by _____ answers to choose from^^^^: s, p, t, r 1250= P + P(_________) * 1/3 1250 = P + P(________) 1250 = (________)p P = $___________ (rounded to the nearest cent) *PLEASE ROUND* Thus, the student will need to earn $1250 +__________ = $__________ during the summer.
A student has borrowed $27,500 in Perkins loans (available to students with exceptional need). The rate on the loan is 5% and the government has paid the interest while the student has been in school. To simplify the calculations assume annual tuition and loan payments. What are the differences in the payment amount and the total paid if the student pays the loan back in 5 years and in 20 years? Is the availability of the student loan interest likely to reduce the after-tax cost of the loan?

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