Because of the Tax Cuts and Jobs Act, under Federal tax law the employee business expenses deduction are suspended in tax year 2020. However, California does not conform to the Federal suspension of all miscellaneous itemized deductions. Therefore, under California tax law valid employee business expenses that are deductible on the California income tax return for tax year 2020 include all of the following except: A. Expenses paid or incurred during the taxpayer’s tax year B. Expenses required to carry on a trade or business C. Expenses that are reimbursed by the taxpayer’s employer D. Expenses that are ordinary and necessary

When color is used on a topographical drawing, black is used to represent what?

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)