All categories

3 years ago

Chuck has AGI of $71,600 and has made the following payments

Business

1 answer:

kodGreya [7K]3 years ago

7 0

Answer: $4,690

Explanation:

From the above, Chuck can include the following with his itemized deductions,

County Real Estate Tax,

School District Tax on Realty,

State Income Tax estimated Payments and

State income tax withholding.

Calculating the above,

= 950 + 670 + 1,010 + 2,060

= $4,690

the amount of taxes that Chuck can include with his itemized deductions is $4,690.

You might be interested in

Reedy Company reports the following information for 2012:

asambeis [7]

Answer:

Ending WIP= $13,500

Explanation:

First, we need to calculate the factory overhead:

Factory overhead= 25,000*0.75= $18,750

Now, the ending WIP inventory:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

68,250 = 11,000 + 27,000 + 25,000 + 18,750 - Ending WIP

Ending WIP= $13,500

4 0

3 years ago

In the current year, Wilson Enterprises, a calendar year taxpayer, suffers a casualty loss of $135,000. The casualty was attribu

bekas [8.4K]

Answer:

Wilson Enterprises is entitled to claim his casualty loss since it was a federally declared disaster and has not been compensated by any insurance company as the question proclaimed. Wilson Enterprises is therefore entitled to a casualty loss of $76,725.00

Explanation:

Casualty and theft losses are limited to a $100 threshold per loss event (this works like a deductible) and an overall amount that must exceed 10 percent of your Adjusted Gross Income (AGI) in order to take the deduction. Losses do not include any property that is covered by insurance if the insurance company reimburses you for the loss.

SOLUTION

Wilson Enterprises is therefore entitled to a casualty loss of $135,00.00

Therefore, using the provision of the law, $100.00 was to be the statutory claim

= $135,000.00 - $100.00) = $134,900.00

∴ AIG = $518,750.00

Therefore, 10% 0f AIG Threshold = ($518,750.00 x .10) =$58,175.00

To find the deductible Loss

$134,900.00 - $58,175.00 = $76,725.00

Therefore, the deductible loss is $76,725.00

8 0

3 years ago

thatcher corporation's bonds will mature in 13 years. the bonds have a face value of $1,000 and a 9.5% coupon rate, paid semiann

Alina [70]

Thatcher corporation's bonds yield to maturity is 7.66%

Thatcher corporation's bonds yield to call is 7.77%

What is the difference between yield to maturity and to call?

The yield to maturity is the rate of return an investor in thatcher corporation's bonds would earn over the entire period of bond investment which is 13 years whereas the yield to call is the rate of return until the bond is called in 5 years

The yield in each can be determined using a financial calculator which requires that the calculator be set to its end mode before making necessary inputs as shown below because the coupons would be paid at the end of each semiannual period:

YTM:

N=26(number of semiannual periods in 13 years)

PMT=47.50(semiannual coupon=9.5%*1000/2)

PV=-1150(current bond price)

FV=1000(face value of the bond=redemption value)

CPT(press compute)

I/Y=3.8289035%(semiannual YTM)

annual YTM=3.8289035%*2

annual YTM=7.66%

YTC:

N=10(number of semiannual periods in 5 years)

PMT=47.50(semiannual coupon=9.5%*1000/2)

PV=-1150(current bond price)

FV=1050(call price in 5 years)

CPT(press compute)

I/Y=3.3852663%

(semiannual YTM)

annual YTM=3.3852663%*2

annual YTM=7.77%

Find out more about bond yield on:brainly.com/question/13408821

#SPJ1

5 0

2 years ago

As a middle age adult, hypothetically, reflect on your employability skills, identify your own career strategy and relate it to

GarryVolchara [31]

Employability skills are versatile abilities that people use on the job. Along with candidates' academic credentials, employers frequently look for a varied variety of talents. Employees should concentrate on enhancing their employable skills in order to stay current and increase their productivity. We examine the numerous employability abilities that are in high demand in the workplace in this post.

Employability abilities are the soft talents that help you stand out from other job hopefuls with comparable academic credentials who are vying for the same position. Although they are not explicitly included in job descriptions, these abilities are crucial to have in order to land a position where your employability skills align with the requirements of the position.

<h3>Common Employability Skills:</h3>

While technical skills or on-the-job training can be obtained, employability skills are more innate or learned via work experience, repetition, or education.

Some fundamental abilities that employers look for in candidates include:

talents in communication

Leadership

finding solutions

Teamwork

Reliability

Managing oneself

Organization and preparation

Technology

Initiative

Learning

Therefore, all the above-mentioned skills are the key skills that help in enhancing our careers.

For more information on the Job market, refer to the given skills:

brainly.com/question/4934175

#SPJ4

7 0

2 years ago

How can producers maximize their profit? Check all that apply.

I am Lyosha [343]

Answer:

They can work to decrease their marginal cost.

They can raise prices to increase marginal revenue,

They can keep marginal costs below marginal revenues,

Explanation:

Marginal cost is the additional expense incurred by producing an extra unit. Marginal revenue is the extra profit realized by selling an additional product or service. To maximize profits, firms should stop selling and production activities when the marginal cost equal to marginal revenue. A profit-maximizing firm is profitable when marginal revenue is greater than or equal to marginal cost.

Profit is obtained by deducting expenses from revenue. To increase profits, a firm should put more effort into increasing revenues while minimizing costs. A profit-maximizing firm should, therefore, work hard to decrease marginal cost and improve its marginal revenue.

8 0

3 years ago