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Nuetrik [128]
2 years ago
5

even though the taxpayer is claimed as a dependent on another tax return, he or she can still file an income tax return to repor

t earned income of $500 and claim $50 of tax withholding. quizle
Business
1 answer:
Oksana_A [137]2 years ago
8 0

Yes the taxpayer can file tax return to report earned income of $500 to claim income tax withholding of $50.

What is the rationale behind this answer? Why can taxpayer claim $50 of tax withholding?

The explanation to this question can be that even though taxpayer is claimed as dependent on another tax return, they can file tax return to claim tax withholding of $50. If a dependent is earning, their income cannot be combined with their parents' income if they are earning income. They have to file their returns if they have to claim any tax refund or credits.

To know more about tax refund, visit:

brainly.com/question/13234219

#SPJ4

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Hunt Incorporated sold $209,000 of accounts receivable to Gannon Factors Inc. on a with recourse basis. Gannon assesses a 2% fin
pentagon [3]

Answer:

Dr Cash $190,190

Dr Due from Gannon Factors $14,630

Dr Loss on Sale of Receivables $16,280

Cr Accounts Receivable $209,000

Cr Recourse Liability $12,100

Dr Accounts Receivables $209,000

Cr Due to Customer $14,630

Cr Interest Revenue $4,180

Cr Cash $190,190

Explanation:

Journal entries

Dr Cash $190,190

Dr Due from Gannon Factors $14,630

Dr Loss on Sale of Receivables $16,280

Cr Accounts Receivable $209,000

Cr Recourse Liability $12,100

Dr Accounts Receivables $209,000

Cr Due to Customer $14,630

Cr Interest Revenue $4,180

Cr Cash $190,190

*7% X $209,000 =$14,630

*2% X $209,000 =$4,180+$12,100=$16,280

5 0
3 years ago
Which statement is false about liquidity?
BARSIC [14]

Answer:

Option D. Both A and B

Explanation:

The reason is that the investment that are readily convertible to cash are less risk and as a result the investors are compensated with lower returns and vice versa. So the only statement that is not false statement is option C and the statement A and B are False.

8 0
3 years ago
MARK AS BRAINLY//
ozzi

Answer:

Consumer Financial Protection Bureau

8 0
3 years ago
High competition for and debates over natural resources affect the development of government policies
andrezito [222]

Answer:

Letter A is correct. <u>TRUE.</u>

Explanation:

This statement is true and supported by the sociological structure of social complexity, which is a concept of analysis of society that reflects the relationship between social behavior through continuous and complex circumstances, such as armed conflicts, emigration patterns and political movements.

This concept supports that human beings are not passive individuals, therefore they search for goals that will improve the quality of life of society, therefore high competition and debates about natural resources will significantly affect the development of government policies, as the sustainability and use of Natural resources are a topic that is widely discussed today, and society increasingly seeks socio-environmental responsibility from organizations and governments, as this is a relevant issue for survival and quality of life. So this issue will influence policy, which is an adaptive and complex system that exists to manage issues that affect society.

5 0
3 years ago
The volume of international trade is governed by factors including the level of domestic economic activity (for example, prosper
Marat540 [252]

Answer:

True

Explanation:

International trade is trade across national boundaries and it includes the import and export of goods and services. An economic prosperity is synonymous with rising incomes and it would increase the propensity to import; that is, people in the domestic economy now have more incomes to spend on imports. Alternatively, a recession would lead to a fall in incomes and imports, and also a fall in investment which conseqeuntly reduces exports volumes.

Trade restrictions (protectionism) such as tariffs, quotas, competitive devaluation, administrative complexities, export subsidy hinder free trade and they could reduce the volume of imports into a country. This is because trade restrictions would make imports to be more expensive; the aim might be that the government is trying to correct a current account deficit. However, the effectiveness of trade restrictions in  reducing import volumes and influening export is dependent on the price elasiticty of demand for imports and exports, the quality of a country's good or service, and how the country's rate of inflation compares with that of other countries.

4 0
3 years ago
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