Stewart had adjusted gross income of $24,000 in 2014. during the year, he made the following contributions to qualified charities: 1) $8,000 cash2) 1,000 shares of able corporation common stock, acquired in 1979 (cost and fair market value of $7,000)considering the charitable contribution deduction limitation, what amount can stewart claim as a deduction for charitable contributions in 2014? a. $7,200b. $8,000c. $12,000d. $15,000e. none of the above

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.