The correct answer is; $875.00.
Further Explanation:
In 2017 the maximum shared responsibility payment that Curtis must pay is $875.00. That is approximately 2.5% of his AGI of $35,000. The maximum payment was 695$ or 2.5% of the income and the taxpayer owes the higher of the two options.
Beginning in 2019, the government stopped issuing a penalty for people who did not have health insurance. There are some people who may be exempt from having to purchase insurance. Some of the exempt clauses are;
- A person may belong to an exempt religious organization
- A person is an inmate in the United States
- A person is in the country illegally
- A person has a very low income and does not need to file taxes
Learn more about the Affordable Health Act at brainly.com/question/1388743
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Answer:
Carol should save $672 per month.
Explanation:
Savings is the process of setting aside some part of one's income for the sake of an emergency or for retirement purposes. The best way to budget one's income by economists is: to save at least 20 %, a maximum of 50% should be spent on necessities and the remaining 30% should go towards discretionary items. In our case Carol can budget her income as follows;
<em>Step 1: Determine annual savings</em>
S=20%×N.I
where;
where;
S=savings
N.I=net income
In our case;
S=unknown
N.I=$40300 a year
replacing;
S=(20/100)×40,300
S=(0.2×40,300)=$8,060
<em>Step 2: Determine monthly savings</em>
Monthly savings=annual savings/number of months in a year
where;
Monthly savings=unknown, to be determined
annual savings=$8,060
number of months in a year=12
replacing;
Monthly savings=(8,060/12)=$672 per month
Carol should save $672 per month.
Answer:
An <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.
Explanation:
Financial statements refers to a statement that that provides formal records of all financial activities and standing of a company or any entity in a structured and easily understandable manner.
For each item of financial statement, an account is kept with the aim of giving a an accurate record of all business activities that are germane to that specific financial statement item.
The purpose of a general ledger is to show individual transactions and resulting account balance of each account of a company as a single collection.
Therefore, an <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.
Answer:
See below
Explanation:
1. Entrepreneurs Add to National Income
Entrepreneurship creates new businesses that focus on making profits. These ventures employ people who earn directly or indirectly from them. The new incomes add to a country's GDP. Consequently, the government collects higher revenues through taxation, which it uses for national development.
2. Entrepreneurs Create Social Change
Though innovations and creativity, entrepreneurs introduce new products and services and easier ways of doing things that improve life's quality. For example, the advancement of internet technology has created many job opportunities while still making it possible for others to work and earn a living remotely.
3. Community Development
Through Corporate social responsibility programs, entrepreneurs play a significant role in community development. Corporates globally have funded projects that provide communities with essential services: water projects, schools, hospitals, and clean environments that have been financed by entrepreneurs.
