Answer: d. $5,350
Explanation:
According to 2020 tax laws, a dependent minor such as Julie Jefferson here can claim a standard deduction that is the greater of:
a. $1,100 or,
b. earned income + $350 so long as it does not exceed $12,400.
Julie's applicable standard deduction is therefore:
= 5,000 + 350
= $5,350
<em>This is greater than $1,100 and so is her applicable standard deduction. </em>
Answer:
Equilibrium price would fall
Equilibrium quantity would remain unchanged
Explanation:
A perfectly inelastic demand means the quantity demand doesn't change regardless of changes in price.
If supply increases, equilibrium price falls while quantity remains unchanged.
Refer to the image attached for a graphical explanation.
I hope my answer helps you
Answer:
$165,000
Explanation:
The computation of the cash payments for income tax is shown below:
= Beginning income tax payable + income tax expense - ending income tax payable
= $30,000 + $175,000 - $40,000
= $165,000
We simply added the beginning income tax payable and deduct the ending income tax payable to the income tax expense so that the accurate amount can be computed
You can make purchases even when you don't have cash
Answer:
The correct answer is A.
Explanation:
Giving the following information:
Final value= 1,560,000
n= 3*12= 36 months
i= 0.038/12= 0.0031667
To calculate the annual deposit needed we need to use the following version of the final value formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A=(1,560,000*0.0031667) / [(1.0031667^36)-1]= $40,849