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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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Gomez runs a small pottery firm. He hires one helper at $13,000 per year, pays annual rent of $5,500 for his shop, and spends $2
alisha [4.7K]

Answer:

(a) $35,000

(b) $8,000

Explanation:

(a) Accounting profit:

= Total revenue - Explicit cost

= $75,000 - (wages + Annual rent + Material cost)

= $75,000 - ($13,000 + $5,500 + $21,500)

= $75,000 - $40,000

= $35,000

(b) Economic Profit:

= Total revenue - Explicit costs - Implicit costs

= $75,000 - (wages + Annual rent + Material cost) - (Income from investment + Earnings as a potter + Worth of entrepreneurial talents)

= $75,000 - ($13,000 + $5,500 + $21,500) - ($5,500 + $19,000 + $2,500)

= $75,000 - $40,000 - $27,000

= $8,000

8 0
3 years ago
A client is admitted to the hospital with weakness in the right extremities, and speech that is slightly slurred. A diagnosis of
arlik [135]

Answer:

Evaluate Motor Status

Explanation:

In the first 24 hours the response of his body will be checked and that is called motor status.

This is through nervous system response to the connected medical devices.

As there is brain attack and our brain is solely responsible for any action in the body, it will be important to know whether it is working and responding properly or not.

This will ensure that the brain is not critically damaged.

4 0
3 years ago
You are the CEO of a company that has to choose between making a $100 million investment in either Russia or Poland. Both invest
dimulka [17.4K]

Answer: When assessing the risks of investment, one should consider the political, economic, and legal risks of doing business in either Russia or Poland. The risk in Russia would probably be considered higher than the risk in Poland since Poland has been a member state of the European Union since 1 May 2004, with the Treaty of Accession 2003 signed on 16 April 2003 in Athens as the legal basis for Poland's accession to the EU.

Poland has already gained benefits and stability offered by the EU. Russia, by contrast, is still many years away from even being in a position to be considered by the EU for membership.

Explanation: A diligent investor wouldn't put a penny in a risky country.

8 0
3 years ago
Cash flows from investing activities LO P3 Equipment with a book value of $65,300 and an original cost of $133,000 was sold at a
bekas [8.4K]

Answer:

$221,100

Explanation:

Given that,

Book value of equipment = $65,300

Sold at a loss = $14,000

Purchase of a new truck = $89,000

Sale of land = $198,000

Sale of Long term investment = $60,800

Cash flows from investing activities:

= Sale of Equipment - Purchase of a new truck + Sale of land + Sale of Long term investment

= ($65,300 - $14,000) - $89,000 + $198,000 + $60,800

= $51,300 - $89,000 + $198,000 + $60,800

= $221,100

8 0
3 years ago
Rearden Metals is considering opening a strip mining operation to provide some of the raw materials needed in producing Rearden
melomori [17]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

The initial purchase of the land and the associated costs of opening up mining operations will cost​ $100 million today. The mine is expected to generate​ $16 million worth of ore per year for the next 12 years. At the end of the 12th year Rearden will need to spend​ $20 million to restore the land to its original pristine nature appearance.

We need to sum each cash flow until the total initial investment is paid:

Number of years= 100,000,000/16,000,000= 6.25 years

To be exact:

0.25*365= 95 days

It will take 6 years and 95 days to recover the initial investment.

5 0
3 years ago
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