Bonita Company accumulates the following summary data for the year ending December 31, 2020, for its Water Division, which it operates as a profit center: sales—$2,076,800 budget, $2,240,000 actual; variable costs—$1,002,000 budget, $1,054,100 actual; and controllable fixed costs—$298,600 budget, $303,800 actual. Prepare a responsibility report for the Water Division for the year ending December 31, 2020.

Which of the following statements accurately describes how costs and benefits are calculated?

Cash flows during the first year of operations for the harman-kardon consulting company were as follows: cash collected from customers, $385,000; cash paid for rent, $49,000; cash paid to employees for services rendered during the year, $129,000; cash paid for utilities, $59,000. in addition, you determine that customers owed the company $69,000 at the end of the year and no bad debts were anticipated. also, the company owed the gas and electric company $2,900 at year-end, and the rent payment was for a two-year period.

Melissa is a very generous single woman. before this year, she had given over $11,400,000 in taxable gifts over the years and has completely exhausted her applicable credit amount. in the current year, melissa gave her daughter riley $100,000 and promptly filed her gift tax return. melissa did not make any other gifts this year. how much gift tax must riley pay the irs because of this transaction?