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Ludmilka [50]
3 years ago
5

Devon and Kimberly are married and file a joint return. They have scheduled their tax appointment with Andrea, their tax prepare

r. After a brief review of the documents and discussion with Devon and Kimberly, Andrea determined that they need to file a Schedule 1 (Form 1040) this year. The information they brought includes a W-2 for Devon with wages of $49,200, a W-2 for Kimberly with wages of $52,100, ordinary dividends of $850, jury duty pay of $202, an taxable interest of $300, and a copy of last year’s tax form. Based on the information provided, why is Schedule 1 (Form 1040) required this year? a. The total income is over $100,000. b. The interest of $300. c. The ordinary dividends of $850. d. The jury duty pay of $202.
Business
1 answer:
babymother [125]3 years ago
6 0

Answer:

hiiiiiii

Explanation:

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Consider a country that is operating under a system of flexible exchange rates. If the central bank in this country imposes an e
UNO [17]

Answer:

i a depreciation of its currency;

Explanation:

A flexible exchange rate is when exchange rate is determined by the forces of demand and supply.

an expansionary monetary policy is a policy where the monetary authorities increase the money supply in the economy.

If exchange rate is flexible and an expansionary monetary policy is carried out, the supply of money would exceed its demand.  as a result, the value of money would fall. this is known as depreciation

3 0
2 years ago
Ajax is reviewing its previous 100% acquisition of Baxter to determine if there is goodwill impairment. At December 31, 2020 Aja
Sedaia [141]

Answer:

Baxter

The amount of the Goodwill write-off required to be booked by Ajax at December 31, 2020 under the FASB rules effective in 2020 is:

= $130,000.

Explanation:

a) Data and Calculations:

Recorded Goodwill = $330,000

Book value of net assets = $400,000

Book value of all assets = $730,000 ($400,000 + $330,000)

Estimated fair value of company = $600,000

Goodwill impairment = $130,000 ($730,000 - $600,000)

b) The Goodwill impairment of $130,000 arose when the book value or the carrying amount exceeded the estimated fair value.

7 0
2 years ago
Salad Express exchanged land it had been holding for future plant expansion for a more suitable parcel of land along distributio
r-ruslan [8.4K]

Answer:

1.  $173,500

2. $ 71,000

Explanation:

Requirement 1: Solution

We can calculate the fair value of new parcel of land just by adding the current market price with additional cash paid to complete the transaction

Fair Value = Current market price + cash paid additionally

Fair Value = $150,000+$23,500

Fair value = $173,500

Requirement 2: Solution

We need to calculate Gain/loss on exchange first in order to record them on books. This can be done by just subtracting the land's book value from the current market price of land

Gain/loss on exchange = Current market price - book value

Gain/loss on exchange = $150,000 - $79,000

Gain/loss on exchange = $71,000

Entries:               Debit                          Credit  

New land           $173,500

Old land                                                 $79000

Cash                                                       $23,500

Gain                                                        $71,000

5 0
3 years ago
In enterprise systems, supply chain management is tied to the conversion of ______ to finished product
Sveta_85 [38]

In enterprise systems, supply chain management is tied to the conversion of raw materials to finished product.

<h3>What are raw materials?</h3>

This are materials that are used in production process to manufacture a product.

Raw materials are often transformed to finished product that is purchased by consumers.

Supply chain monitor the activity of converting raw material to finished product.

Therefore, In enterprise systems, supply chain management is tied to the conversion of raw materials to finished product.

Learn more on supply chain below,

brainly.com/question/13297496

#SPJ12

3 0
1 year ago
Speedy Auto Repairs uses a job-order costing system. The company’s direct materials consist of replacement parts installed in cu
Masteriza [31]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Estimates:

Direct labor-hours required to support estimated output 18,000.

Fixed overhead costs $ 198,000.

Variable overhead cost per direct labor-hour $ 1.00

A) overhead rate= (fixed + variable cost)/direct labor hour

Overhead rate= (198000 + 1*18000)/18000= 12

B) Direct materials $ 719

Direct labor cost $ 177

Direct labor-hours used 7

Manufacturing overhead= $1* 7= $7

8 0
3 years ago
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