While Susan Was on Vacation During the Current Year, Someone

question 84

Essay

While Susan was on vacation during the current year, someone broke into her home and stole the following items:
? A computer used 60% in connection with Susan's employment as an employee and 40% for her personal use. The cost of the computer was $8,000. Depreciation of $3,000 had been taken on the computer and it had a fair market value of $4,000 at the time of the theft.
? A painting, which Susan purchased as an investment for $10,000, had a fair market value of $17,000.
? Silverware purchased for $3,000 had a fair market value of $5,000.
? Cash of $30,000.
Susan's adjusted gross income, before considering any of the above items, is $60,000. Determine the total amount of Susan's itemized deductions resulting from the theft.

---

Definitions:

Employee Participation

The involvement of employees in decision-making processes and aspects of organizational life beyond their immediate job roles.

Empowerment

The process of giving individuals or groups more control, authority, and influence over their work and the decision-making process, leading to increased motivation and engagement.

Matrix Organisations

An organizational structure that combines two or more types of structures, typically functional and product-based, to leverage the benefits of both.

Cross-Functional Teams

Teams composed of members from different functional areas of a company, working together towards a common goal.