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A union contract suggest that labor costs may be A variable B fixed C a noncash expense D undetermined?
Wiki User
∙ 15y ago
B. Fixed Cost Union contracts may convert some variable costs into fixed costs. For example, a union contract may require severance pay. The firm may then be reluctant to layoff workers, and thus the labor cost become fixed and independent of the level of output.
Wiki User
∙ 15y ago
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Depreciation a source of cash inflow because?
it is a tax- deductible noncash expense
Is depreciation an internal source of capital?
Depreciation is regarded as a source of capital because it is a noncash expense on the Income Statement. (see "Understanding Wall Street" 5th ed. by Jefffrey B. Little & Lucien Rhodes - pg 51.)
Which tax form is used for recording donations?
Charitable donations are place on Schedule A of form 1040. If the donations are noncash donations, the donation should be placed on form 8283 - Noncash Charitable Contributions.
The acquisition of land by issuing common stock is?
a noncash transaction which is not reported in the body of statement of cash flows
The last item on the statement of cash flows prio to the schedule of noncash investing and financing activities reports?
Cash at the end of the year
What is 'maximum deduction for charitable contribution'?
Charitable contributions are deductible only on Schedule A (Itemized Deductions) in the Gifts to Charity Section. You must document and keep with your records any cash or property contribution of at least $250. File Form 8283(Noncash Charitable Contributions) if your total deduction for noncash contributions is more than $500. Fill out Form 8283 Section B if noncash contributions exceed $5,000.For more information, go to www.irs.gov/taxtopics for Topic 506 (Contributions). Also, go to www.irs.gov/formspubs for Publication 526 (Charitable Contributions).
Is calculated by adding back noncash expenses to net income and adjusting for changes in current assets and liabilities?
net cash from opertional activity
Which of the following noncash fringe benefits does not represent taxable income subject to federal income tax withholding?
personal use of government car
What is calculated by adding back noncash expenses to net income and adjusting for changes in current assets and liabilities?
net cash from opertional activity
What is the maximum amount of charitable contributions that can be claim on your income tax form?
Charitable contributions are deductible only on Schedule A (Itemized Deductions) in the Gifts to Charity Section. You must document and keep with your records any cash or property contribution of at least $250. File Form 8283 (Noncash Charitable Contributions) if your total deduction for noncash contributions is more than $500. Fill out Form 8283 Section B if noncash contributions exceed $5,000. For more information, go to www.irs.gov/taxtopics for Topic 506 (Contributions). Also, go to www.irs.gov/formspubs for Publication 526 (Charitable Contributions).
Is imputed benefit income taxable?
Yes, imputed benefit income is subject to federal taxation. It is considered Taxable noncash compensation but is not included in gross pay.
Why is it not a good idea to rely on your income statement to run your business?
The income statement deducts noncash expenses, such as depreciation, even when no cash is actually flowing out of the business.
