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I am Lyosha [343]
3 years ago
11

Max and nora have modified agi of $75,000, and adopted a little boy from san antonio, texas, in the current year and incurred a

total of $13,000 in qualified adoption expenses. in addition, max's employer provided the couple with adoption benefits of $4,000. what is the maximum amount of adoption credit they can take this year?
Business
1 answer:
miskamm [114]3 years ago
4 0

Answer:$9,000

Explanation:

The tax credit offered to adoptive parents to encourage adoption is reffered to as ADOPTION TAX CREDIT. The adoption tax credit is a nonrefundable tax credit. This means that people owing taxes are also fit or qualified to apply for the adoption tax credit.

In the United States of America, adoption tax credit qualified expenses include court costs, traveling expenses, lawyer's or Attorney's fee and other expenses for legal adoption of an eligible child.

It can be calculated by subtracting

the max's employer provided for the couple with adoption benefits of $4,000 from the incurred expenses of a total of $13,000 in qualified adoption expenses(from the question).

That is; $13,000-$4,000.

= $9,000.

Hence, the maximum amount of adoption credit they can take this year is $9,000.

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Answer:

The price of a 6-month call option on C.A.L.L. stock is $13.52

Explanation:

According to the given data we have the following:

P = Price of 6-months put option=$10.50.

So = Current price=$125

X = Exrecise price=$125

r = Risk free interest rate= 5%

T = Time 6 months = 1/2

In order to calculate the price of a 6-month call option on C.A.L.L. stock at an exercise price of $125 if it is at the money, we would have to use the formula of put-call parity as follows:

C=P+So- (<u>   X   )</u>

              ( 1+r)∧T

C=$10.50+$125-(<u>$125   )</u>

                            (1+0.05)∧1/2

C=$135.5-121.98

C=$13.52

The price of a 6-month call option on C.A.L.L. stock is $13.52

3 0
3 years ago
An accounting report that shows the changes in capital during the accounting period is a
never [62]
It is a statement of the owners equity. I hope this helps :)
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3 years ago
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What are the 3 important reasons to reconcile bank and credit card as a set date ​
rodikova [14]

Answer:

1) To verify transactions have the correct date assigned to them. 2) To verify that an account balance is within its credit limit. 3) To verify that all transactions have been recorded for the period.

Explanation:

6 0
3 years ago
JDS Foods’ projected benefit obligation, accumulated benefit obligation, and plan assets were $65 million, $55 million, and $37
Kitty [74]

Answer:

a) $28 Million

b) -$24 Million

Explanation:

The first part of the question is to determine the pension liability tht should be reported in the balance sheet

To do this, we use the following formula

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Part B) This part says to dettermine the amount JDS would report if the planned asset increase to $89 million

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3 years ago
The level of inventory of a manufactured product has increased by 8,000 units during a period. The following data are also avail
LiRa [457]

Answer:

There will be a difference in the income .

Absorption costing income will be lower as it transfers all the fixed costs to the ending inventory.

Variable costing income will be higher as it does not transfer  the fixed costs to the ending inventory.

The difference will be  of $ 104000

Explanation:

Increase in units 8000                                                              

                                                              Variable       Fixed

Unit manufacturing costs of the period $24.00 $10.00

Unit operating expenses of the period    8.00       3.00

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The net operating income under variable costing for the year will be $ 13* 8000= $ 104000 Lower than the net operating income under  absorption costing.  This is because the all fixed costs will be treated as period cost rather than product costs.

In variable costing the ending inventory will be $104000 lower than the ending inventory under absorption costing  because the fixed costs will not be allocated to products.

Under variable costing, the units in the ending inventory will be costed at $32 each.Under absorption costing, the units in the ending inventory will be costed at $32+ $ 13= $ 45 each.

7 0
3 years ago
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