Assuming Reggie who is 55, had an adjusted gross income of $32,000 in 2020, Reggies medical expense deduction will be $75
Calculation to determine Reggie medical expense deduction
Drugs $500
Add Health insurance premium-after tax $850
Add Doctors fees $1,250
Add Eye glasses $375
Total expenses $2,975
($500+$850+$1,250+$375)
Less Insurance reimbursement ($500)
Less 7.5% of Adjusted gross income ($2,400)
($32,000×7.5%)
Medical Expense Deduction $75
($2,975 - $500 - $2,400)
Inconclusion assuming Reggie who is 55, had an adjusted gross income of $32,000 in 2020, Reggies medical expense deduction will be $75
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Answer: True
Explanation:
Revenue variances are used by an organization in order to know the difference that exists between the expected sale by the organization and and actual sales.
The revenue variance is the difference between what the total sales revenue should be, given the actual level of activity of the period, and the actual total sales revenue.
Answer: The web team can create a FAQ page.
Explanation: FAQ is an abbreviation for Frequently Asked Questions. A FAQ page is a page on an c ecommerce store, where answers to important questions about a company or its products and services have been stored. This is done to clarify the uncertainties of customers and show them how the company or its products and services work.
This will greatly help the company reduce questions directed to sales team, as customers can easily find answer to their questions in the FAQ page
Answer:
125,200
Explanation:
Adjust inventory to base year prices:
= Cost of ending inventory ÷ cost index for the year
= $136400 ÷ 1.1
= $124,000
Current year LIFO layer:
= Adjust inventory to base year prices - Cost of beginning inventory
= $124,000 - $112,000
= $12,000
Inventory to be shown:
= Add the new LIFO layer at end of period prices to prior year LIFO inventory
= (112,000 × 1) + (12,000 × 1.1)
= 112,000 + 13,200
= 125,200
Answer:
True
Explanation:
A buisness customer records every transaction to see how the transaction was
