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scoray [572]
3 years ago
10

Eugene and Velma are married. For 2019 Eugene earned $25,000 and Velma earned $10,000. What are Eugene's and Velma's taxable inc

ome for 2019?
Business
1 answer:
bagirrra123 [75]3 years ago
5 0

Answer:

$0

Explanation:

Velma's standard deduction for 2019 is $12,200, since it is higher than her actual income ($12,000 ≥ $10,000), Velma will not pay any income taxes. If Velma made the mistake of making an itemized deduction, she would end up paying taxes, but no one would make that type of mistakes.

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Privett Company Accounts payable $33,264 Accounts receivable 67,719 Accrued liabilities 6,039 Cash 20,980 Intangible assets 39,9
xz_007 [3.2K]

The total amount of quick assets is equal to $119,232. therefore, Option B is the correct statement.

<h3>What are Quick Assets?</h3>

Quick assets encompass cash available or current assets like accounts receivable that may be transformed to cash with minimum or no discounting.

Companies have a tendency to use the short assets to cover short-time period liabilities as they arrive up, so speedy conversion into cash (excessive liquidity) is critical.

Inventories and prepaid expenses aren't quick assets due to the fact they may be hard to transform into cash, and deep discounts are sometimes needed to do so.

The amount of quick assets is equal to Accounts receivable plus Cash plus Marketable securities.

Quick assets = $67,719 + $20,980 + $30,533

Quick assets = $119,232

Hence, the total amount of quick assets is equal to $119,232. Option B is the correct statement.

learn more about quick assets:

brainly.com/question/11209470

#SPJ1

5 0
2 years ago
The Great Fish Taco Corporation currently has fixed operating costs of $15,000​, sells its​ pre-made tacos for $6.00 per​ box, a
Makovka662 [10]

Answer: The Break-Even Point will reduce from $4,285.71 to $4,125

Explanation:

To get the Break-Even Point we can divide Fixed Assets by the Contribution margin.

The Contribution Margin is the Selling Price minus the Variable Cost.

For Scenario 1 the Break-Even Point will be,

= 15,000 / ( 6 - 2.50)

= $4,285.71

For Scenario 2 the Break-Even Point is,

= 16,500 / 6.5 -2.5

= $4,125

The Break-Even Point for Scenario 2 means that even though the higher Fixed Costs could have led to a higher Break-Even Point, the higher price contributed more than the fixed costs did and led to an ultimately lower Break-Even Point than the first Scenario.

3 0
3 years ago
How to establish a positive work environment
quester [9]
-no distractions
-clean working area
-full night's rest
-large cup of coffee (optional)
8 0
3 years ago
What color is the sky?
Mumz [18]

Answer:

Blue

Explanation:

7 0
3 years ago
Read 2 more answers
A landscaping company accepts MasterCard as payment for $1,000 worth of services. MasterCard charges a service fee of 2 percent.
Novosadov [1.4K]

Answer:

Dr   Cash     1020

               Cr         Service revenue   1000

               Cr          Service fee           20

Explanation:

 Service fee is expense of individual who is purchasing not store's expense.

- Total cash received by store is $ 1020 because 2% is service charges by master card,its is income of master card not store so store will treat as liability.

The only revenue of store is $1000.

3 0
3 years ago
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