Solution:
For order to apply to a child as a minor, the child must be either under the age of 19 or under the age of 24.
If the taxpayer or his spouse is deemed dependent on another tax return, the standard deduction which can be granted on the return of the taxpayer is usually limited to the higher of:
1. $1,050 or
2. The individual's earned income for the year plus $350(subject to standard deduction amount of $6,350, in general)
Here while preparing the tax returns of Adam and Amy, they have included April as a dependent. Therefore,April can be taken as a dependent in the tax return since April is still living on the support of her parents. But Adam can get standard deduction as limited as per the law in the return, disclosing April's income.
The standard deduction available is higher of
1. $1,050 or
2. $18,000+$350 but subject to $6,350
Therefore Adam can get a deduction of $6,350.
Answer: Improve management development process
Explanation:
The computer aided software engineering would improve management development process, customers information would be managed appropriately and doing banking activities would be easier.
Answer:
62,400 units
Explanation:
The computation of the equivalent units for conversion cost is shown below:
= Started and completed units × completion percentage + closing inventory units × completion percentage
where,
Started and completed units is
= 65,000 units - 6,500 units
= 58,500 units
So the equivalent units is
= 58,500 units × 100 + 6,500 units × 60%
= 58,500 units + 3,900 units
= 62,400 units
The 3/5 finished means 60% is finished
Answer:
creates a shortage
Explanation:
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
Because price is set below equilibrium price, demand would outstrip supply and this would lead to a shortage
Effects of a price ceiling
1. It leads to shortages
2. it leads to the development of black markets
3. it prevents producers from raising price beyond a certain price
4. It lowers the price consumers pay for a product. This increases consumer surplus
Answer:
In a perpetual inventory system, the cost of goods is recorded at the time of sale. With a periodic inventory system, it's updated periodically.
