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Alisiya [41]
3 years ago
5

Rhianna and Jay are married filing jointly in 2018. They have six children under age 17 for whom they may claim the child tax cr

edit. Their AGI was $419,400. What amount of child tax credit may they claim on their 2018 tax return?
A) $12,000
B) $11,500
C) $11,000
D) $6,000
Business
1 answer:
katrin [286]3 years ago
7 0

Answer:

The correct answer to the following question is option C) $11,000 .

Explanation:

The phaseout limit for married couple filling their return jointly is up to $400,000, but in this case the annual gross income of Rhianna and Jay is $419,400 . So their annual gross income is $19,400 ($419,400 - $400,000) more, and then $19,400 / $1000 = $19.4 , which is approximately equal to $20.

Now the phase out limit would be $20 x $50

=$1000

For the 6 children , the tax credit wold be - $2000 x $6

= $12,000

From the above amount, the phase out amount will be deducted,

= $12,000 - $1000

= $11,000

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Answer:

Centrality

Explanation:

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5 0
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DO
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A codec converts an incoming digital signal to an analog signal for transmission over an analog network. True False
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3 years ago
Discontinue a Segment Product Tango has revenue of $1,150,000, variable cost of goods sold of $850,000, variable selling expense
Ronch [10]

Answer:

A) Differential analysis is shown below

B) its product should be continue.

Explanation:

As per the data given in the question,

a)

                      Continue product          Discontinue product        Differential

                        Tango(Alt 1)                       Tango(Alt 2)               Effects (Alt 2)

Revenue         $1,150,000                                $0                      -$1,150,000

Costs:

Variable COG Sold -$850,000                       $0                        $850,000

Variable selling and admin expenses  -$275,000     $0           $850,000

Fixed costs     -$125,000                                  $0                        $275,000

Profit(Loss)      -$100,000                                -$125,000            -$25,000

b)

As per analysis discontinuance of product Tango will enhance the amount of loss by $25,000, so it is recommended to continue the operation.

7 0
3 years ago
Fernstrom Corporation has two divisions: East and West. Data from the most recent month appear below: East West Sales $ 330,000
GenaCL600 [577]

Answer:

The company’s overall net operating income  would be $52,140

Explanation:

If the all divisions of the company are operates at break even level the overall net operating income of the company would be zero . because at break even level the sales value is equals to total variable cost plus total fixed cost if the company incurring any addition fixed cost then the over all net operating income will show loss of additional fixed incurred.  The answer for the given question is the overall net operating income of the company would be ($52,140).

3 0
3 years ago
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