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tresset_1 [31]
2 years ago
6

Durell and Earline are married, file a joint return, and their two children, ages 5 years and 6 months, qualify as dependents. A

lso, Earline's 18-year-old son from a previous marriage and not a full-time student, qualifies as a dependent. Durell and Earline's combined AGI is $68,000 Which children are "qualifying children" for the purposes of the child tax credit? Durell and Earline's child tax credit is____________.
Business
2 answers:
MrRissso [65]2 years ago
7 0

Answer:

Durell and Earlines child tax credit is  $2000

They cannot claim for Earline's son because his age is more than 17 years.

Explanation:

The child tax credit limit is 1000 for each dependant child.  

To qualify for the purposes of tax credit, a child means a child who is 17 years of age or less and who has stayed with the parents for more than 6 months. This also applies to a child who is born in that year and technically havent stayed with the parents for 6 months.

For a married couple filing a joint return the threshold limit for AGI is 110000

So, in the above problem Durell and Earline are married and their AGI Is 68000 which is well below the threshold limit.

Also, the two children eligble for tax credit are the two young ones

So, Durell and Eralines tax credit will be $1000 for each child that is $2000

Durell and Earlines child tax credit is  $2000

They cannot claim for Earline's son because his age is more than 17 years.

Delvig [45]2 years ago
5 0

Answer:

$2000

Explanation:

1000x2=2000 child tax credit

AGI is lower then 110,000 for joint filling.

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vSelected financial data for The Portland Porcelain Works Coffee Mug Division is as​ follows: Sales $ 2 comma 000 comma 000 Oper
ioda

Answer:

Capital turnover = 2.5 times

Explanation:

given data

Sales =  $2,000,000

Operating income = $400,000

Total assets = $800,000

Current liabilities = $120,000

Target rate of return = 13​%

Weighted average cost of capital = 6​%

to find out

Portland Porcelain Works Coffee Mug Division capital​ turnover

solution

we get here Portland Porcelain Works Coffee Mug Division capital turnover that is find here by dividing sales by total assets

so

Capital turnover = \frac{sales}{total\ assets}     ......................1

put here value

Capital turnover = \frac{2,000,000}{800,000}

Capital turnover = 2.5 times

5 0
2 years ago
When agent Tom meets with his sellers to explain his advertising plan, he should make sure the owners understand that:__________
laiz [17]

Answer:

Advertising a similar property can and does create interest in their property

Explanation:

In real estate agents need to effectively market properties in order to sell to consumers.

One way of doing this is by creating awareness in a given market about a particular property type.

When interest in a type of property is created it generates interest that will lead to more sales.

In the given scenario when Tom meets with his sellers to explain his advertising plan, he should make sure the owners understand that to capture a market they need to advertise even products that are similar.

As interest grows it will create a demand for that type of property

7 0
3 years ago
Based on this research, which activity is this
Aneli [31]

Answer: conducting lectures in sustainable agriculture

Explanation: the description states that they help with environmental rights there for leading to agriculture and showing why they would support this activity

5 0
3 years ago
Beautiful Lawns Company estimates its doubtful accounts by aging its accounts receivable and applying percentages to various age
mr_godi [17]

Answer:

$3,000

Explanation:

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Therefore The amount of bad debts expense that Beautiful Lawns will report in 2016 is $3,000

8 0
2 years ago
It is one of Garrett’s job responsibilities to report the amount of foreign direct investment undertaken by the government over
Eddi Din [679]

Answer: flow

Explanation:

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This flow consists of reinvestment earnings, equity transactions, and company debt transaction.

Inward and outward flows are also been taken into consideration, how foreign investments/transaction are noted in and out of the organization.

5 0
3 years ago
Read 2 more answers
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