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vodomira [7]
4 years ago
15

Zach attended Champion University during 2014-2018. He lived at home and was claimed by his parents as a deduction during the en

tire duration of his education. He incurred education expenses of $21,000 during college of which $3,780 was paid for by scholarships. To finance his education, he borrowed $12,500 through a federal student loan program and borrowed another $8,500 from a local lending institution for educational purposes. After graduation, he married and moved with his spouse to a distant city. In 2019, he incurred $1,250 of interest on the federal loans and $850 on the lending institution loan. He filed a joint return with his spouse showing modified AGI of $122,500. What amount of student loan interest can Zach and his spouse deduct in 2019, if any
Business
1 answer:
ddd [48]4 years ago
4 0

Answer:

$1722

Explanation:

incurred expenses = 21000

scholarship amount = 3780

interest on federal loan = 1250

interest on lending institution = 850

<u>Education expenses:</u>

21000 - 3780

= $17220

= $17220/21000

= $0.82 = 82%

the interest incurred would be:-

intereston federal loan + interest from lending institution

= $1250 + $850

= $2100

$2100 * $850

= <u>$1722</u>

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SCORPION-xisa [38]

Answer:

$1,080

Explanation:

Calculation for the amount that should be debited to Bad Debts Expense

Using this formula

Bad Debts Expense=Net Sales× Percentage of net credit sales uncollectible.

Let plug in the formula

Bad Debts Expense=180,000 credit×0.6%

Bad Debts Expense=$1,080

Therefore the amount that should be debited to Bad Debts Expense when the year-end adjusting entry is prepared will be $1,080

5 0
3 years ago
NuKere, a nuclear plant, accidentally leaks hazardous waste onto a nearby property, despite having recently passed a rigorous se
ioda

Answer:

a.) Nukere should be held liable because of the dangerous nature of hazardous waste. Regardless of safety checks, the accident happened.

Explanation:

"Nuclear power plants" are known to be<em> the most reliable source of electricity</em> there is in the world. However, they pose some<em> risks</em> especially when it comes to the possibility of a nuclear accident happening.

When it comes to "nuclear third party liability," a strict liability of the nuclear operator means that the victim has no fault in any situation that might occur. This means that <em>the operator is responsible or liable</em> of the power plant's dangerous nature of hazardous wastes.

Whether or not they have recently passed safety checks, there is no need for them to prove anything on he is at fault. So, <u>this makes Nukere liable for the situation.</u>

This explains the answer.

4 0
4 years ago
Savings accounts typically offer more interest than what type of account ​
son4ous [18]
Checking account is the type of account
8 0
4 years ago
The equipment salesperson asked the professional landscaper, "Did you know the RedMax brand backpack blower can save you time an
Greeley [361]

Answer:

B. customer benefit

Explanation:

Based on the information provided within the question it can be said that the salesperson was using a customer benefit approach. This refers to when a salesperson states the ways and features that will make the product or service valuable to the customer. This is what the salesperson was doing in this situation by stating that the product can save the person time and money with it's features thus adding value.

If you have any more questions feel free to ask away at Brainly.

7 0
3 years ago
I just want to know if my answer is correct
nataly862011 [7]

Answer:

The correct answer is letter "A": 20% of income.

Explanation:

The percentage of savings of people will directly depend on their income. Employees earning the minimum wage are likely to use the most of their salary paying bills which will give them few to no opportunity for saving. On the other hand, executives with annual income above the average have more chances to save a good percentage of the money they receive monthly according to their expenses.

However, for a person who receives an average salary that allows covering expenditure and having some free money a bank account, at least should be saving 20% of that income. Besides, according to the 50/20/30 budget rule, <em>50% of the salary should be spent on needs, 30% on wants, and 20% on savings</em>.

3 0
3 years ago
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