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DanielleElmas [232]
4 years ago
15

Determine the amount of the 2018 standard deduction allowed in the following independent situations. In each case, assume the ta

xpayer is claimed as another person's dependent.
Amount of the
Standard Deduction
a. Mason, aged 18, reports income as follows: $1,900 from a paper route and $10,800 from repairing computers. $
b. Emma, aged 17, records income as follows: $950 in cash dividends from a stock investment, $5,100 from providing dance lessons, and $1,700 from babysitting. $
c. Samuel, aged 13, incurs income as follows: $100 interest on a bank savings account and $500 from mowing neighbors' lawns. $
d. Gabriel, aged 22, reports income as follows: $300 in cash dividends from a stock investment. $
e. Elijah, aged 65, incurs income as follows: $12,000 from Social Security and $5,200 in wages from a part-time job.
Business
1 answer:
wlad13 [49]4 years ago
4 0
I believe it’s b.
Sorry if it’s wrong I’m not sure
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A country has reached a level of economic development where the manufacturing of both semidurable and nondurable consumer goods
liubo4ka [24]

Answer: Takeoff stage

Explanation: In Rostow's five-stage model of economic growth  states various factors of the required economic condition necessary for that  country to develop. One such stage is the takeoff stage. i.e.

Take-off stage states  

(a)In this particular period Urbanization will increases.

(b)Industrialization proceeds as technological progress will take place.

(c) Secondary sector expands .

It should be also duly noted that during this stage,Textiles and apparel are usually the first "take-off" industry .

<u><em>Hence, a country  where the manufacturing of both semi durable and non durable consumer goods has just begun. Also, the goods demanded relate to equipment and supplies to support manufacturing has reached the takeoff stage in Rostow's five stage model of economic growth.</em></u>

5 0
3 years ago
e. The noneconomic effects of unemployment include a sense of failure created in parents and in their children the costs of movi
Ugo [173]

Answer:

Correct option is A

Explanation:

a sense of failure created in parents and in their children. ( all the other effects are economic )

7 0
4 years ago
Julie has just retired. Her company’s retirement program has two options as to how retirement benefits can be received. Under th
evablogger [386]

Answer:

1.the present value for the following assuming that the money can be invested at 11% is $1,209,346.73

2.if she can invest money at 11%, I will recommend that she accept the first option of taking a lump sum of $150000

Explanation:

a) using the compound interest formula

A= p[1+r%]^n

P= $150000 n=20 r=11%

A= 150000[ 1+11/100]^20

A=150000[1.11]^20

A=150000 ×8.062311536

A= $1,209,346.73

2. The first option will give her $1,209,346.73 and the second option will give her ($14,000 ×20)+$60,000= $340000

Therefore the first option is better to accept because she will make more money in the first option than in the second option.

6 0
3 years ago
When a magazine company collects cash for selling a subscription, it is an example of: Multiple Choice An accrued liability tran
katrin [286]

The complete question is:

When a magazine company collects cash for selling a subscription, it is an example of:

1. A deferred revenue transaction

2. An accrued receivable transaction

3. A prepaid expense transaction

4. An accrued liability transaction

Answer:

A deferred revenue transaction.

Explanation:

In this scenario the magazine company has collected cash for a subscription. Subscriptions are payments that are made to gain access to a certain service. Take for example if a subscription has to be paid to a company to access their website for information. The cash has been collected but service is to be provided in the future. When service is not yet provided and payment is collected it is referred to as deferred revenue.

This is because the service has not yet been performed so revenue is not yet earned. When service is provided then the revenue is recognised.

7 0
3 years ago
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Following are selected transactions for Vitalo Company. Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly W
umka21 [38]

Answer:

<u>As at April 30</u>

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

Explanation:

Following are selected transactions for Vitalo Company.

Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly White in granting a time extension on her past-due account receivable.

<u>As at November 1</u>

Account receivable = $6,000 and Note Receivable = $6000

Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note.

<u>As at December 31</u>

Dr. Account Receivable (61 days /180 days x 6000 x 0.08) ..$163

Cr. Interest Income......................................................................................$163

Apr. 30 White honored her note when presented for payment; February has 28 days for the current year.

<u>As at April 30</u>

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

4 0
3 years ago
Read 2 more answers
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