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photoshop1234 [79]
2 years ago
14

Toby kirkland’s parents claim him as a dependent on their tax return. Toby had earned income in the amount of $2,897. What is to

by’s standard deduction?
Business
1 answer:
labwork [276]2 years ago
4 0

When we use the IRS rule which states the standard deduction amount should be greater than $900 or the income earned by the taxpayer  for the year in addition with $300 (should not be exceeding the regular standard deduction). Income earned by Toby is $2,897, then add

$300 into it.

The correct standard deduction amount would then be $3,197 ($2,897 +300)=$3197.

Standard deduction is the deduction given by the income tax authorities  to the tax payer.

Internal revenue bulletin is the instrument used by the IRS for announcing all the rules.

To know more about Standard deduction here:

brainly.com/question/3158031

#SPJ4

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Lucas Diving Supplies Company, in its first year of business, had labor costs of $57,000, overhead costs of $88,000, materials p
WARRIOR [948]

Answer:

$162,000

Explanation:

The amount of cost of goods manufactured is computed as

= Labor cost + Direct materials purchased + overhead costs - ending balance of materials - ending balance of work in process

= $57,000 + $25,000 + $88,000 - $3,000 - $5,000

= $162,000

Hence, the cost of goods manufactured is $162,000

7 0
3 years ago
If you take out a loan, which two things do your loan payments go toward?
Fofino [41]

Answer:

D. Principal and interest

7 0
2 years ago
How is your opportunity cost of taking this course online different than taking it on-campus?
olga_2 [115]

Answer:

Online classes is new trend now these days. Both ways have their own advantage and disadvantages.

Explanation:

Now these days the trend of online classes are on top. This is not a longer novelty. This mode of learning changes the structure and experience of the class.

It is not necessary that the changes could be right for all. There are some advantage of online classes.

  • Flexible schedule
  • Faster completion
  • To study anytime
  • To login from anywhere
  • To access the more colleges
  • No commute

It has potentially lower cost

But in traditional classroom in campus, you have to attend the classes at campus. You will meet new people. Students get socialize with another students and new people

Both way of taking course have advantage and disadvantage.

8 0
3 years ago
An investment adviser with no place of business in the State is exempt from registration if it renders advice solely to employee
irinina [24]

Answer:

$1,000,000

Explanation:

The investment adviser who doesn't have any place of business in the state and offers his services to only employee benefit plans with assets of assets at least $1,000,000 are exempt from registration. If the asset value exceeds this limit then the investment adviser will be required to register itself.

5 0
3 years ago
Which of the following statements are true regarding dividends? (You may select more than one answer. Single click the box with
seropon [69]

Answer:

The options that are true regarding dividends include:

  1. A stock dividend increases the number of outstanding shares.
  2. A stock dividend commonly indicates management's confidence that the company is doing well.

Explanation:

A stock dividend is a payment to shareholders that is made in shares rather than in cash.

Once investors receive stock dividends, the number of their shares will increase. this validates the first statement

Secondly, stock dividends have a tax advantage for the investor. The share dividend, like any stock share, is not taxed until the investor sells it unless the company offers the option of taking the dividend as cash or in stock.

The stock dividend has the advantage of rewarding shareholders without reducing the company's cash balance thereby indicating management's confidence in the company is well-being.

3 0
3 years ago
Read 2 more answers
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