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
andrew11 [14]
3 years ago
10

Martha and Lew are married taxpayers with $400 of foreign tax withholding from dividends in a mutual fund. They have enough fore

ign income from the mutual fund to claim the full $400 as a foreign tax credit. Their tax bracket is 24 percent and they itemize deductions. Should they claim the foreign tax credit or a deduction for foreign taxes on their Schedule A?
Business
1 answer:
DedPeter [7]3 years ago
5 0

Answer: they should claim a deduction for foreign taxes on their Schedule A?

Explanation: An itemized deduction is an expenditure on eligible products, services, or contributions that can be subtracted from adjusted gross income (AGI) to reduce your tax bill.

Most taxpayers have the option to either itemize deductions or claim the standard deduction that applies to their filing status.

You might be interested in
Surreal Corp. has borrowed to invest in a project. The loan calls for a payment of $17,500 every month for three years. The lend
Marianna [84]

Answer:

The rate at which to discount the payments to find sum borrowed is 12.68%

Explanation:

The discount rate to be used in computing the sum borrowed can e derived from the effective annual rate formula below:

Effective annual rate = (1 + Quoted interest rate/m)^m - 1

quoted interest rate is 8.40

m is the number of months in a year when compounding is done which is 12

effective annual rate=(1+8.40%/12)^12-1

effective annual rate=(1+0.01)^12-1

effective annual rate=(1.01)^12-1

effective annual rate=1.12682503 -1

effective annual rate=0.12682503=12.68%

7 0
3 years ago
During 2020 the DLD Company had a net income of $85,000. In addition, selected accounts showed the following changes: Accounts R
zmey [24]

Answer:

$84,500

Explanation:

Data provided as per the question

Net income = $85,000

Depreciation expenses = $1,500

Accounts receivables = $3,000

Increase in accounts payable = $1,000

The computation of amount of cash provided by operating activities is given below:-

Amount of cash provided by operating activities = Net Income + Depreciation expenses - Accounts receivables + Increase in accounts payable

= $85,000 + $1,500 - $3,000 + $1,000

= $84,500

Therefore, for computing the Amount of cash provided by operating activities we simply applied the above formula.

5 0
3 years ago
Sally, Greg, Juan, and Amar are working on a project for a customer that is aimed at cutting the client's electrical costs. The
creativ13 [48]

Answer: Option A

Explanation: In simple words, a virtual organisation refers to a group of separate individuals or entities working for a common goal by coordinating their activities via any medium like E- mail or cell phones etc.

In the given case, all the four individuals are working for cutting clients cost and are operating through electronic mediums.

Hence from the above we can conclude that the correct option is A.

3 0
3 years ago
Read the passage. Then answer the question that follows. Nikia designs and produces board games that she sells online. She forme
liberstina [14]

I would say the C. is the correct answer, because if the 3D Printer prints the pieces faster, the games are sold more frequently. I hope this helps, and that it makes sense to you.

6 0
3 years ago
Giorgio Italian Market bought $11,000 worth of merchandise from Food Suppliers and signed a 45-day, 8% promissory note for the $
Masja [62]

Answer:

                                                Dr.          Cr.

Purchases / Inventory         $11,000

Promissory Note Payable                  $11,000

Explanation:

Promissory note is a signed document which contains a written promise for payment of stated amount to specific person or bond holder on demand or specified date.

In this case the purchases are made and a promissory note of $11,000 is signed for 45 days at 8% annual rate.

This entry will be recorded as the purchases or Inventory are debited and as promissory note is a short term liability so, promissory note payable is credited resulting increase in inventory as well increase in current liability.

5 0
3 years ago
Other questions:
  • Assume an economy is incurring unemployment. The effect of resolving this problem will be to:
    12·1 answer
  • President obama announced a $100,000,000 humanitarian aid package to haiti to support its earthquake relief. england's parliamen
    13·1 answer
  • Which answer is an example of a market?
    15·1 answer
  • In 2013, total revenues from digital sales of regional (Mexican/Tejano), pop/rock, and tropical (salsa/merengue/cumbia/bachata)
    15·2 answers
  • This company reports only total factory overhead on the schedule of cost of goods manufactured and attaches a separate schedule
    9·1 answer
  • Kevin and Bob have owned and operated SOA as a C corporation for a number of years. When they formed the entity, Kevin and Bob e
    13·1 answer
  • During 2020, Bayside Inc. has 9% cumulative non-participating preferred stocks with a total par value of $300,000 and common sto
    5·1 answer
  • Your daily budget is $650 and your ad clicks range in cost from $1.71 to $2.25. What's the maximum amount of clicks you could re
    9·1 answer
  • What do you understand by Ranger?​
    9·1 answer
  • Failure by a promissory notes maker to pay the amount due at maturity is known as_________.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!