Answer:
$24,400
Explanation:
Assuming that Alan and Donna are married and they decide to file their taxes together, the standard deduction for 2019 taxes was $24,400.
The standard deduction increases if you or your spouse is over 65 years old, or if any of you is blind. The standard deduction generally increases a little bit every year, e.g. during 2018 it was $24,000 and for 2020 it is $24,800.
Answer:
d. $4,000 credit to common stock
Explanation:
The journal entry is shown below:
Since the company issued 400 shares for $10 per share
So, the journal entry is
Cash Dr $4,000
To common stock $4,000
(Being the issuance of the common stock is recorded)
here the cash is debited as it increased the assets and credited the common stock as it also increased the equity account
A a lease is like renting something ( example: joe leased his corvette from the Chevrolet dealership he lease his corvette for three year then brung it back and bought a 2018 corvette
I hope that helped
Answer:
The company's net operating income is b. $4,700
Explanation:
The contribution margin ratio is calculated by using following formula:
Contribution margin ratio = (Sales - Total Variable cost)/Sales
Total Variable cost = Sales x (1 - Contribution margin ratio)
Maack Corporation's contribution margin ratio is 18% and the company's sales for a month are $315,000.
Total Variable cost = $315,000 x (1 - 18%) = $258,300
The company's net operating income = Sales - Total Variable cost - Fixed expenses = $315,000 - $258,300 - $52,000 = $4,700
