<u>A. Megan is planning to pursue an undergraduate degree in chemistry. But since her father lost his job five years ago, the family had been unable to save up enough for Megan’s education-------Financial Need</u>
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A student's financial need refers to the difference between the student's expense of participation at any College, and the sum their family is relied upon to contribute to the student's education. Since Megan's father lost his job and they have been unable to save money, So, the Megan's situation describe his financial need.
<u>B. Kunal recently learned that he is going to receive a student loan. Now he needs to attend a session in which he will learn the how the loan process works, as well as his responsibilities as a borrower-----Entrance Counseling</u>
In the event that you have not recently gotten a Direct Loan or Federal Family Education Loan (FFEL), the Federal Government expects you to finish counseling advising to guarantee that you comprehend the duties and commitments you are accepting.
On the off chance that you are finishing entrance counseling to acquire a loan as an undergraduate student, at that point the entrance counseling will satisfy counseling necessities for Direct Subsidized Loans and Direct Unsubsidized Loans.
Kunal's situation describes entrance counseling.
<u>C. Josie created an FSA ID and completed a long application form online. The form asked for a lot of financial details about Josie and her family------FAFSA</u>
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The Free Application for Federal Student Aid (FAFSA) refers to a form which is finished by current and prospective college students (undergrad and graduate) in the United States to decide their qualification for student financial aid. Finishing and submitting the FAFSA is free and gives you access to government student aid to pay for your school or college. An FSA ID gives you access to Federal Student Aid's online systems and can fill in as your lawful signature.
Answer: (D.) All of the above are correct.
Explanation: If the factors of production are perfect substitutes then the following will hold true :
A. Isoquants are linear and downward sloping.
B. Cost-minimizing firms will generally use only labor or only capital in production, depending on the relative prices of labor and capital.
C. The elasticity of substitution between the inputs is infinite.
Mac and June, who file as married filing jointly with a modified AGI of $430,000 and a tax liability of $20,000.
Option D
Explanation:
For every eligible minor child under the age of 17 at the end of the tax year, the Child Tax Credit is granted to US taxpayers. In December 2017, the recent tax legislation doubled the loan to 2,000 dollars per child, making much of it reimbursable. 1 It was a non-refundable bonus of $1,000 previously.
If the taxpayer is filing jointly then the claim of child tax credit will be up to the tax liability. Thus, Mac and June has tax liability of $20,000 and the maximum limit of child credit is $2,000. Thus, they can claim full $2,000 claim and reduce their liability to $18,000.
Answer:
The debit to lease payable on July 1, 2019 will be $ 670,741.31
Explanation:
According to the details, the present value lease payable as on July 1, 2018 is= $ 718,000
Also, the annual lease payments is = $ 102,641
With these details we are able to calculate the debit to lease payable on 2019, and the calculation is as follows
= ($ 718,000- $ 102,641) + 9% ( $ 718,000 - $ 102,641)
= $ 615,359 + $55382,31
= $ 670,741 July 1, 2019 debit to lease payable
