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Dahasolnce [82]
4 years ago
11

Bob and Carol file their tax returns using the married filing jointly status. Their AGI is $132,500. They have two children, age

s 11 and 7. How much child tax credit can Bob and Carol claim for their two children?a. $0b. $850c. $875d. $1,150e. None of the above is correct.
Business
2 answers:
Finger [1]4 years ago
7 0

the correct answer is

b. $850

good luck

aleksklad [387]4 years ago
6 0

Answer:

None of the above is correct

Explanation:

Child tax credit is designed to provide a relief for parents in taking care of their children or other dependents.

Qualified dependent can be son ,daughter ,step child  who must have lived with you for more than six months ,proofed and claimed as dependent on the federal tax returns.

Other Conditions for Child tax credit are

  • Adjusted gross income is not more than $400,000 for the couple
  • the child must not be older than 17 as at the the previous year

If the conditions are met , each child is qualified for $2,000 credit.

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6 0
3 years ago
Using the one-period valuation model, assuming a year-end dividend of $0.11, an expected stock sales price of $60, and a require
sineoko [7]

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The most common tool used to measure the valuation of the stock is the ratio of price to earnings. It's easy to access, and the data is readily accessible. The P / E ratio is determined by measuring the price of the stock by the sum of its 12-month trailing profits.

Given,

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7 0
3 years ago
Titan Company is being sued for $200,000 and the attorney advises Titan that they will probably lose the lawsuit and is estimate
Harrizon [31]

<u>Answer: </u>a credit to a liability

<u>Explanation:</u>

Credit to liability is recorded when a firm knows that it will loose in its case and it has to pay compensation for the law suit. The payment for the law suit is a liability to the firm.

Titan company's attorney has mentioned that the company would probably lose in the law suit and would have to pay an amount of $200,000. This amount will recorded as the credit to liability in the books of Titan Company.

5 0
4 years ago
12. What happens as a result of a shortage? a. There is downward pressure on prices. b. There is upward pressure on prices. c. C
choli [55]

Answer:

Option C There is upward pressure on prices

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4 0
3 years ago
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