Answer: I and II
I. American Opportunity Tax Credit
II. Lifetime Learning Credit
Explanation:
From the question, we are informed that Michael and Kathy have one dependent, Dustin, who is in his third year of college and that Michael is taking classes in the evening toward an MBA.
The credits that Michael and Kathy can claim related to tuition they pay for these programs are American Opportunity Tax Credit and the Lifetime Learning Credit.
Answer and Explanation:
The preparation is presented below:
<u> McDaniel Company </u>
<u> Partial balance sheet</u>
Particulars Amount
Current liabilities
Note payable $250,000
Long term debt
Note payable refinance $950,000
Total liabilities $1,200,000
We simply added the long term debt and the current liabilities so that the total liabilities could come
Balance carried forward. Previous balance on an account which is carried over to be next billing period. Depending on the account terms, additional fees may be accessed if the total balance carried forward exceeds a certain amount.
Answer:
The answer is D. Innovators
Explanation:
Innovators are risk takers. They are adventurous.
Innovators are also the first set of people to try a product or idea.
The price of the new product is usually high, but because we they are higher income.
Innovators are also more educated and they try to explore the market.
Innovators are willing to pay high price for new product. Example is the latest iphone