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nevsk [136]
3 years ago
6

Trudy is Jocelyn's friend. Trudy looks after Jocelyn's four-year-old son during the day so Jocelyn can go to work. During the ye

ar, Jocelyn paid Trudy $4,000 to care for her son. What is the amount of Jocelyn's child and dependent care credit if her AGI for the year was $30,000?
Business
1 answer:
grigory [225]3 years ago
7 0

Answer:

The correct answer to the following question is $810 .

Explanation:

For calculating the child and dependent care credit , we will first take out qualified dependent care expenses and then the percentage of qualified dependent care expenses.

So firstly, qualified dependent care expenses would be least of the three following given amount -

1) AGI of Jocelyn - $30,000

2) Amount paid to Trudy - $4000

3) $3000 available in case of one child.

So here $3000 would be the qualified dependent care expenses

Now the percentage of qualified dependent care expenses would be -

Maximum percentage available - 35% , but this is available to a person who has AGI of less than $15,000.

But Jocelyn has $30,000 of AGI, then 1% would decrease by every $2000,

so reduction in percentage = $30,000 - $15,000 / $2000 x 100

= 7.5% if rounded up to 8% , then percentage of qualified dependent care expenses would be 35% - 8% = 27%

Now child and dependent care credit = $3000 x 27%

=$810

=

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Concord Corporation owned 16000 shares of Ivanhoe Corporation. These shares were purchased in 2017 for $130000. On November 15,
mafiozo [28]

Answer:

  • Gain = $271,310
  • Net reduction in retained earnings = $‭105,690‬

Explanation:

Gain = (Ivanhoe market price - Purchase price) * Number of shares issued as property dividend

Purchase price = 130,000 / 16,000

= $8.13

Number of shares issued as property dividend = 130,000 shares of Concord / 10

= 13,000 Ivanhoe shares

Gain = (29 - 8.13) * 13,000

= $‭271,310‬

Net reduction in retained earnings:

= Dividends payable - Gain

= (13,000 * 29) - ‭271,310‬

= $‭105,690‬

4 0
3 years ago
In its​ year-end income​ statement, Black Knights Company reported cost of goods sold of​ $450,000. Changes occurred in several
torisob [31]

Answer:

The answer is $330,000

Explanation:

Cash paid to suppliers is the total amount of cash paid to its creditors.

We can find that through:

Cost of sold

Minus: Decrease in inventory

Plus: Decrease in accounts payable

=Cash paid to suppliers.

Now let's start:

Cost of sold - $450,000

Decrease in inventory - $160,000

Decrease in accounts payable- $40,000

$450,000 - $160,000 + $40,000

=$330,000

Therefore, Cash paid to suppliers is $330,000

5 0
2 years ago
Robots
inysia [295]

Based on the PPC given, the points given would represent the following:

  • Point B = Efficient use of resources.
  • Point X = Impossible use of resources.
  • Point A = Underutilized resources.

<h3>What do points on the PPC represent/</h3>

Points on the curve represent the efficient usage of resources because they show that all available resources are being used. Points B, C, and D are therefore all efficient.

Point X is impossible because all points outside of the PPC are not attainable due to a lack of resources. Point A shows that the available resources are not being fully utilized.

Options to describe the points:

  • Efficient use of resources
  • Under utilized resources
  • Economic growth
  • Trade-off
  • Opportunity cost

Find out more on the PPC at brainly.com/question/2617319.

#SPJ1

3 0
1 year ago
The leadership style advocating that a leader involve subordinates in most decisions
OlgaM077 [116]

Answer:

E) participative.

<u>The multiple-choice options for this question are: </u>

A) laissez-faire.

B) hands-off.

C) existential.

D) authoritarian.

E) participative.

Explanation:

In the participative leadership style, the manager invites employees' input when making all or most company decisions. The employees are adequate information regarding company issues. Each of the staff members is accorded an opportunity to make their contribution to the subject matter. If the team cannot reach a consensus, a majority vote determines the direction the company will take.

Participative leadership is criticized for slow f decision-making. Its main advantage is that decisions are easily acceptable by all, making implementation seamless.

7 0
3 years ago
_____ involves determining the information and communications needs of the stakeholders.
vagabundo [1.1K]
The appropriate response is communications planning. It is the art and science of achieving target gatherings of people utilizing showcasing correspondence channels, for example, promoting, advertising, encounters or standard mail for instance. It is worried about choosing who to target, when, with what message and how.
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