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PIT_PIT [208]
3 years ago
14

The Hutters filed a joint return for 2019. They provide more than 50% of the support of Carla, Ellie, and Aaron. Carla (age 18)

is a cousin and earns $2,800 from a part-time job. Ellie (age 25) is their daughter and is a full-time law student. She received a $7,500 scholarship for tuition from her law school. Aaron is a brother who is a citizen of Israel but resides in France. Carla and Ellie live with the Hutters. How many dependents can the Hutters claim?
Business
1 answer:
sergey [27]3 years ago
8 0

Answer:

Hutters can be claim two dependents

Explanation:

we know here that Hutters can be claim two dependents

because here given Carla and Ellie as Aaron meets neither the residency nor citizenship requirement

but Carla is a qualifying relative and is under the age of 24

but Ellie is above 24 but is a qualifying relative as scholarship is non-taxable

so

we can say that answer is two

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If a bank purchases a security from the Federal Reserve System, reserves in the banking system ________ and the monetary base __
lbvjy [14]

Purchase of a security by the bank will decrease the reserves in the banking and as a result the monetary base will also decrease.

<u>Explanation:</u>

The federal reserve system is the central bank of the United States of America. It has certain measures under it's control to manage the supply of money in the economy.

One of those measures is the purchase and the selling of the securities. If the security is purchased by the bank from the Federal reserve system, it will decrease the money reserve in the banks. As a result of this the monetary base will decrease in the country also.

5 0
4 years ago
Imagine you are the owner of a natural gas company. you can either extract as much of the resource as fast as possible or delay
Akimi4 [234]

Answer:

Extract as low as possible at present and as high as much possible in the future.

Explanation:

The company must sell fewer natural gas units because the sales price is at present and this will constitute to fewer income coming by the sale of natural gas, the company must only earn from natural gas as much as required to finance its needs at present. So to earn a higher revenue proportion in future due to increase in the selling price of the product, the company must extract as much as possible in future to earn more.

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3 years ago
You own an auto repair shop. When you recycle old car batteries, you receive a $25 refund from the manufacturer. When your custo
Firdavs [7]

Answer:

1375

Explanation:

Its really simple if you think about it your just multiplying

25x55 and if you meant add 25 to 10 then do

35x55

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3 years ago
Robertson Inc. prepares its financial statements according to International Financial Reporting Standards (IFRS). At the end of
qwelly [4]

Answer:

$264,000

Explanation:

Calculation to determine what the accumulated depreciation account will have a balance of:

$240,000 x ($330,000/300,000) = $264,000

Therefore , the accumulated depreciation account will have a balance of:$264,000

8 0
3 years ago
2. Fargo Corporation distributes property (basis of $260,000 and fair market value of $310,000) to a shareholder. Fargo Corporat
earnstyle [38]

Answer:

The distribution by Fargo corporations has the following tax consequences

  • The corporation has distributed an appreciated property( that on its own makes it liable for tax)
  • The corporation must recognize the gains or losses made on the distribution as if the corporation was selling the property to the shareholder.
  • Apply capital gains tax on the gains or losses
  • capital gain = $310000-$260000 =$50000
  • Apply any annual exclusion and multiply by the Capital Gains Tax to arrive at Taxable Capital Gain to be included in incomes

The shareholder will recognize dividend received in the market value and will be subject to exemptions if applicable.

Explanation:

8 0
3 years ago
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