In each of the following independent cases, indicate the amount that may be deducted as...

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Accounting

In each of the following independent cases, indicate the
amount that may be deducted as charitable contributions.
a) Paulson has AGI of $22,000. During the year he made the
following cash contributions:
Red Cross $3,000
Local church 8,000
Local university 4,200
b) $15,200 Concord owned 1,000 shares of X Corporation stock for
which she paid $10,000 in 2013. During the current year
she contributed 600 shares of this stock to the First
Church of Midtown. On the date of the contribution the
shares had a market price of $25 per share. Concord's AGI
this year was $25,000. c) Manney operates a retail furniture store. In July of
this year, he contributed to the local hospital a number of
items of furniture (tables, chairs, and sofas) from his
merchandise inventory (ordinary income property). These
items had cost him $3,800 but had a normal retail value of
$7,400. Manney's AGI this year was $60,000 d) English is active in the Boy Scouts. During the past
year he served as a scoutmaster. At the end of the year, he
calculated that he had spent $80 for various scout
activities such as fund-raising drives. In addition, he
had driven his automobile an estimated 300 miles in
connection with scout work. He also had lost 38 working
hours from his job with a loss in pay of $1,000.

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