If a married couple filing jointly claiming exemptions & deductions as per the federal law then their total taxable income will be $44940. Option C is correct.

<h3>What is total taxable income?</h3>

The portion of gross adjusted income of an individual or jointly if married considered as "taxable income" which used to assess the tax liability for a certain tax year. It can be roughly defined as adjusted gross income (AGI) less permissible standard or itemized deductions.

This can be calculated by the following formula for married couples:

$Total Taxable income (TTI) in case of married couple = Total income - Exclusions - Adjustments to income - Deductions - Exemptions$

TTI = $68676 (AGI) - $3752 - $3375 (exemptions) - $959 (Itemized Deduction) - $8350 - $3650 -$3650 (standard deduction & exemption as per law)

Therefore, the Total Taxable income of couple = $44940

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5 0

2 years ago

A market often characterized by one-on-one bargaining is a(n) _______ market.

Neko [114]

<span>barter The barter market involves people directly trading goods and services for other goods and services. In this system haggling is customary.</span>

6 0

3 years ago

Prince&Princess Clothing has clear-cut rules for its employees. The roles of each employee are clearly defined, and every em

3241004551 [841]

Answer:

Bureaucratic organization

Explanation:

A bureaucratic organization operates with a high degree of formality. Under this type of organization, decisions are made through an organized process and there are policies and procedures for everything. All employees understand their responsibilities. Prince&Princess Clothing is a bureaucratic organization.

5 0

3 years ago

Charleston Company purchases $180,000 of inventory during the period and sells $54,000 of it for $90,000. Beginning of the perio

vodomira [7]

Answer:

Inventory Balance to be reported at year end is C. $135,000

Explanation:

Ending Inventory = Opening Inventory + Purchases - Sales

<u>Calculation of Inventory Balance to be reported at year end</u>

Opening Inventory $9,000

<em>Add</em> Purchases of Inventory $180,000

<em>Less </em>Sales at cost of Inventory ($54,000)

Ending Inventory $135,000

7 0

4 years ago

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