1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
spayn [35]
3 years ago
15

Abner and Bette have been married for 20 years and always file a joint return, but never itemize their deductions. Abner and Bet

te have gross income of $80,000 and deductions for adjusted gross income in the amount of $5,000, but they do not have any children. Neither Abner nor Bette are over the age of 65 and neither is blind. What is Abner and Bette’s taxable income in 2019?
Business
1 answer:
user100 [1]3 years ago
5 0

<u>Solution and Explanation:</u>

Abner & Bette Gross Income = $80,000.00  

Less: the Standard deduction (as per Federal tax $12700 for 2017) $ (12,700.00)  

Less: the Personal Exemption($4050*2) $(8,100.00)  

Ans (a) Abner's & Bette taxable income in 2017 $   59,200.00    

<u> The Personal Exemption Amount</u>  

The personal exemption amount for 2017 is $4,050.  

Standard Deduction Amounts  

The 2017 standard deduction amounts will be as follows:  

Single or married filing separately: $6,350  

Married filing jointly: $12,700  

Head of household: $9,350  

You might be interested in
A warehouse manager who is placing an order for maintenance supplies for delivery vehicles would be making a programmed decision
liubo4ka [24]

Answer:

The Answer is False.

<u>The Ware house manager  who is placing an order for maintenance supplies for delivery vehicles would be making a non-Programmed decision</u>

Explanation:

<u>non-programmed decisions are the decision are basically concerned with the  maintenance supplies for  raw materials.</u>

<u></u>

<u>The Programmed decisions are made in response to situations that are unique,unpredictable  and that are largely  unstructured.</u>

6 0
3 years ago
Community Manufacturing Inc. developed the following standard costs for direct material and direct labor for one of their major
hammer [34]

Answer:

Particulars               Standard                           Actual

                      Qty     Rate   Amount       Qty      Rate   Amount

Materials     2,000     26     52,000      2,200     24       52,800

Labor          1,000       14     14,000       1,050     14.75    15,487.50

Actual output                                   10,000.00    

Materials required (10000*0.20) = 2,000.00

Labor hrs required (10000*0.1) =    1,000.00

1. May's direct material price variance

= (SP-AP)*AQ

= (26 - 24*)2200  

= 4,400 F      

2. May's direct material quantity variance

= (SQ-AQ)*SP  

= (2,000 - 2,200)*26

= 5,200 U

3. May's direct labor cost variance

= Standard Cost - Actual Cost

= 14,000 - 15,487.50

= 1,487.50 U

4. May's direct labor rate variance

= (SR-AR)*AH  

= (14 - 14.75)*1,050

= 787.50 U

5. May's direct labor efficiency variance

= (SH-AH)*SR

= (1,000 - 1,050)*14

= 700 U

6 0
2 years ago
use the rule of 72 to calculate how long it will take for your money to double if it's earning 6% in interest
marissa [1.9K]
It would take by my calculations around 16 yrs but that is just an hypothesis

<span />
7 0
3 years ago
When an interest-bearing note is dishonored at maturity and ultimate collection is expected, the entry for the dishonoring, assu
tresset_1 [31]

Answer:

The correct answer is C. a credit to Notes Receivable and Interest Revenue.

Explanation:

When this registration is made, what occurs is to decrease the obligation they have with our organization, and an increase in income due to the recognition of the interests effectively recognized at the expiration of the obligation. Dishonoring the note means recognizing that we no longer have a callable value, and that the value receivable is extinguished as a result of the end of the agreed period of permanence.

8 0
3 years ago
Read 2 more answers
"An investor that has been unaffiliated with the issuer for at least 3 months is permitted to sell restricted shares under Rule
Travka [436]

Answer:

six months

Explanation:

Restricted shares are form of securities that are gotten in private sales, from an affiliate of the issuer or through an issuing house. Basically, restricted securities are a form of compensation given to investors in exchange for providing start up capital to a company hence are issued through employee stock benefit plans, private placements, regulation offerings etc.

According to rule 144, before an investor could sell any restricted securities in the market place, such securities must be held for a certain period of time, usually six months for a reporting company, who is subject to the reporting requirements of SEC 1949.

However, where the issuer of the securities is not subjected to reporting requirements of SEC, then the investor could hold them for a period of one year.

4 0
3 years ago
Other questions:
  • An investment advisor buys 1000 shares of ABC common stock for his personal account. A short time later, the advisor buys 100,00
    11·1 answer
  • What term best summarizes the idea that money indicates success and value?
    12·1 answer
  • A company declared a cash dividend of $8,560 on december 5, 2015. the company made a cash dividend payment on january 8, 2016. w
    14·1 answer
  • Which option distinguishes why Djimon is gaining weight in the following scenario?
    6·2 answers
  • The Better Building Company has a contract to build a building for $100 million. The estimate of the cost of the project is $75
    15·1 answer
  • The National Division of Roboto Company is buying 10,000 widgets from an outside supplier at $30 per unit. Roboto's Overseas Div
    5·1 answer
  • Martha's current marginal utility from consuming orange juice is 75 utils per ounce and her marginal utility from consuming coff
    10·1 answer
  • Valley Designs issued a 90-day, 6% note for $96,000, dated April 22, to Bork Furniture Company on account. Assume 360 days in a
    6·1 answer
  • In order for Hope Springs to effectively sell its bottled water, the company needs to be effective at ________, which is the pra
    15·1 answer
  • In the market for magazines, the "income effect" means that
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!