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Dahasolnce [82]
3 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]3 years ago
7 0

the correct answer is

b. $850

good luck

aleksklad [387]3 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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Suppose Will gives his wallet containing $100 to Alex to hold while he works out. During Will’s workout, Alex uses the $100 to p
kondor19780726 [428]

Answer:please refer to the explanation section

Explanation:

Mechanic = $100

Vet = $100

Alex (payment from vet) = $100

Will's $100 bill has created $300.

This situation is explained in detail by the concept known has the multiplier. The multiplier measures how much impact will a change in an exogenous variable will cause in endogenous variables, for example How much a increase in Government spending will change Gross Domestic Product.

The multiplier in this case is 3,

3 0
3 years ago
Jo is duly notified that her mortgage with Fund All Savings has been transferred to Big Loan Co. and that she should henceforth
Likurg_2 [28]

Answer:

Option D; JO IS LIABLE TO BIG LOAN CO. SINCE SHE RECEIVED A NOTICE FROM THEM ABOUT THE ASSIGNMENT.

Explanation:

A mortgage is a loan provided by a mortgage lender or a bank that enables an individual to purchase a home.

Mortgage payments usually occur on a monthly basis and consist of four main parts: principal, interest, taxes and insurance.

A transfer of mortgage is the reassignment of an existing mortgage, usually on a home, from the current holder to another person or entity.

When mortgage is transferred, two notices will be sent: one from the current mortgage servicer and the other from the new servicer. All payments after the notification will be made to the new servicer.

Since Jo was notified about the reassignment from Fund All Savings to Big loan Co. but still continues to pay Fund All Savings and Big Loan Co. sues Jo for nonpayment. What is most likely to be the court's judgement is that JO IS LIABLE TO BIG LOAN Co. SINCE SHE RECEIVED A NOTICE FROM THEM ABOUT THE ASSIGNMENT.

5 0
3 years ago
He stockholders' equity section on the December 31, 2009, balance sheet of Chemfast Corporation reported the following amounts:
Allisa [31]

Answer:

1.7900 shares

2.7300 shares

3.$22.95

4.$59

5.$6,300

6.$10.50

7.$791,000

Explanation:

The number of preferred shares=total par value of preferred shares issued/par value=$165,900/$21=7900 shares

The number of preferred shares outstanding is issued shares minus treasury stock=7900 shares-600 shares=7,300 shares

average issue price of preferred stock=(total par value+additional paid capital)/issued shares=($165,900+$15,400)/7900=$22.95

Average issue price of common stock==common stock amount/issued shares=$590,000/10000=$59

The treasury stock decreases stockholders' equity by the amount paid to repurchase the shares which is $6,300

Treasury stock cost $ per share=cost of treasury cost/number of treasury stock=$6300/600=$10.50

Total stockholders' equity in $=preferred stock+preferred stock additional paid in capital+common stock+retained earnings -treasury stock

Total stockholders' equity in $=165,900+15,400+590,000+26000-6300=$791,000

8 0
2 years ago
Lucas Co. has a job-order cost system. For the month of April, the following debits (credits) appeared in the general ledger acc
aliya0001 [1]

Answer:

direct material charge = $8500

Explanation:

given data

April 1 balance = $24000

April 30 Direct materials = 80000

April 30 Direct labor = 60000

April 30 Factory overhead = 54000

April 30 finished goods =  200000

so balance is = finished goods - ( balance + Direct materials + Direct labor + Factory overhead )

put here value

balance =  200000 - ( 24000 + 80000 + 60000 + 54000 )

balance = 18000

so here balance above $18000 is total manufacture cost of job no 100

so direct material charge for job no 100 is

direct material charge =  manufacturing cost - applied cost - direct labour cost

direct material charge = 18000 - 4500 - 5000

direct material charge = $8500

5 0
2 years ago
Adam entered into a contract with Ben for the purchase of ten tons of coal for $200. Ben refused to supply the coal and Adam had
Pavel [41]

Answer: B the measure of consequential damages is $100. Because Adam would have a profit of $100 is Ben had not refused to supply the coal.

8 0
3 years ago
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