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solmaris [256]
2 years ago
9

in 2022, denise has two children who are qualifying persons for the child and dependent care credit, ethan and jeffrey. ethan ha

s $9,000 in dependent care expenses, and jeffrey has none. assuming all other tests are met, what amount of expenses is the credit based on? $3,000 $6,000 $8,000 $9,000
Business
1 answer:
ss7ja [257]2 years ago
6 0

In 2022, Denise has two children who are qualifying persons for the child and dependent care credit, Ethan and Jeffrey. Ethan has $9,000 in dependent care expenses, and Jeffrey has none. assuming all other tests are met, up to $8,000 of expenses is credited based on.

A federal tax break known as the Child and Dependent Care Credit assists families in paying for childcare costs incurred while working or looking for jobs. Families that are required to pay for the care of an adult dependant or a spouse who is disabled may also be eligible for the credit.

The child and dependent care credit aid you in paying for the upkeep of any dependents that qualify (aka "qualifying persons").

Your income and a portion of the costs you expend for the care of a qualifying individual while you work or look for a job are used to determine how much of a credit you are eligible for.

You can deduct costs for babysitters, day camps, and before- and after-school activities in addition to childcare.

The credit became considerably more generous and may be refundable as a result of the American Rescue Plan Act of 2021.

Learn more about care credit here:

brainly.com/question/18801773

#SPJ4

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A firm has actual sales in November of $1,000 and projected sales in December and January of $3,000 and $4,000, respectively. Th
inn [45]

Answer:

b. 2,100

Explanation:

On January will be collected: a) 10% January´s sales because is collected in cash; b) 40% December´s sales because is collected one month following the sale, and 50% November sales because the balance is collected two months following the sale.

So we can calcula like follows:

Expected cash receipts in January = (4,000 * 0.10) + (3,000 * 0.40) + (1,000 * 0.50)

Expected cash receipts in January = 400 + 1,200 + 500

Expected cash receipts in January = 2,100

8 0
3 years ago
For each transaction, indicate the transaction's effect on the company's accounting equation by selecting either increase, decre
lbvjy [14]

Answer:

C

Explanation:

8 0
3 years ago
Read 2 more answers
Which do you think is better?/Which do you prefer? FedEx or UPS?
GrogVix [38]

Answer:

I personally like UPS because most of the times I have to send documents or goods domestically and UPS is very well known for its domestics shipments and I also prefer it because of its low rates as compared to FedEx which has higher rates. I am also comfortable with UPS because of its customer services. They respond to your query very quickly and try to resolve it as soon as possible. Their first priority is always their customers.

7 0
3 years ago
The demand and marginal revenue for a perfectly competitive firm are______, whereas the demand and marginal revenue for monopoli
exis [7]

The demand and marginal revenue for a perfectly competitive firm are horizontal , whereas the demand and marginal revenue for monopolists are downward

<h3>What is meant by marginal revenue?</h3>

The increase in revenue that comes from selling one more unit of output is known as marginal revenue. Although marginal revenue can remain constant at a certain level of output, it will eventually start to decline as the output level rises due to the law of diminishing returns. The increased total revenue produced by increasing product sales by one unit is known as marginal revenue and is a key topic in microeconomics.

An individual, group, or business that dominates and controls the market for a particular commodity or service is referred to as a monopolist. Due to the absence of substitute products or services and competition, the monopolist has the ability to command high prices. According to Irving Fisher, a monopoly is a market where there is "no competition," which results in a situation where one person or business is the only supplier of a specific good or service.

Hence, The demand and marginal revenue for a perfectly competitive firm are horizontal , whereas the demand and marginal revenue for monopolists are downward.

To learn more about marginal revenue refer to:

brainly.com/question/13444663

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8 0
1 year ago
Direct labor and indirect labor are recorded, respectively, to:
torisob [31]

Answer:

d. Work in Process Inventory and Factory Overhead.

Explanation:

Direct labor is labor that is directly involved in the production process, for example a machine operator in a factory is supplying direct labor. So when recording direct labor we do so under work in process inventory as that is where the labour is applied.

Indirect labour is one that is not directly involved in the production process, for example office cleaners, building maintenance. Since their contribution is not directly impacting production, indirect labor is recorded under factory overhead.

8 0
3 years ago
Read 2 more answers
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