When the original poverty line was created, even some people living above the poverty line did not have access to a phone or running water in their homes. Today, running water is expected. Beyond that, the norm for our contemporary society includes having cell phones and internet access. In fact, the U. S. government provides grants to bring high-speed in-home internet access to underserved rural areas. Consider both the benefits and the shortcomings of the U. S. poverty line as a means of assessing poverty today.
a. The U. S. poverty line was originally set at an income level of $1.90 per day.
i. sufficient income to provide for a family of four.
ii. one-third of the median income in the United States.
iii. three times the cost of a low-cost food plan.
b. The current U. S. poverty line measures poverty in that it measures the adequacy of resources relative to b.

Eliminating entries (including goodwill impairment) and worksheets for various years on january 1, 2013, porter company purchased an 80% interest in the capital stock of salem company for$850,000. at that time, salem company had capital stock of $550,000 and retained earnings of $80,000.differences between the fair value and the book value of the identifiable assets of salem company were asfollows: fair value in excess of book valueequipment$130,000land65,000inventory40,000the book values of all other assets and liabilities of salem company were equal to their fair values onjanuary 1, 2013. the equipment had a remaining life of five years on january 1, 2013. the inventory was sold in2013.salem company’s net income and dividends declared in 2013 and 2014 were as follows: year 2013 net income of $100,000; dividends declared of $25,000year 2014 net income of $110,000; dividends declared of $35,000required: a.prepare a computation and allocation schedule for the difference between book value of equity acquired andthe value implied by the purchase price.b.present the eliminating/adjusting entries needed on the consolidated worksheet for the year endeddecember 31, 2013. (it is not necessary to prepare the worksheet.)lo6lo1

Kevin and jenny, who are both working full-time, have three children all under the age of ten. the two youngest children, who are three and five years old, attended eastside pre-school for a total cost of $3,000. ervin, who is nine, attended big kid daycare after school at a cost of $2,000. jenny has earned income of $15,000 and kevin earns $14,000. what amount of childcare expenses should be used to determine the child and dependent care credit?

Name successful entrepreneurs from your area whose business is related to cookery