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disa [49]
3 years ago
7

Jennifer Searcy, a single mother, has three dependent children. As of December 31, 2018, their ages were as follows: Sydney (7),

Patrick (11), and JoAnna (17). Jennifer's 2018 AGI is $62,000, and her tax liability is $3,384. All requirements are met. The amount of Jennifer's Child Tax Credit is __________. $0 $2,000 $3,384 $4,000
Business
1 answer:
Eddi Din [679]3 years ago
4 0

Answer:

Child Tax Credit is given to taxpayers for each qualifying dependent child who is below 17 years old at the end of the tax year. The Child Tax Credit amount is $2000 per qualifying dependent. So here, Jennifer has two qualifying dependent child Sydney and Patrick who are under 17 before the end of the tax year. JoAnna does not qualifies for Child Tax Credit as her age is above 17 years for the tax year. So the total Child Tax Credit amount to Jennifer is $4000.

Option 4 is correct.

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If the liabilities of a business increased $75,000 during a period of time and the owner's equity in the business decreased $30,
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Answer:

D. Increased $45,00

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Total assets=Total liabilities+Total equity

100,000=50,000+50,000

Now consider that the above mentioned liabilities are increased by $75,000 as stated in question and above mentioned equity is decreased by $30,000 as stated in question, then the assets as per accounting equation can be determined as follows:

Total liabilities=50,000+75,000=$125,000

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6 0
3 years ago
Raspberry Company's actuary has computed its prior service cost to be $8,000,000. Raspberry amortizes the prior service cost by
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Explanation:

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= $910,000

3 0
3 years ago
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