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Answer:
$2,400 in 2019 are deductible as alimony.
Step-by-step explanation:
Hillary get divorced in the year = 2016
She has to pay her ex-spouse $200 per month until her son reaches 18 years of age in 7 years.
His son will reach of the age of 18 = 2016 + 7 = 2023
She has to pay $200 till 2023 and $120 thereafter.
Her payments are deductible as alimony in 2019 would be = $200 × 12
= $2,400
$2,400 in 2019 are deductible as alimony.
Assuming Reggie who is 55, had an adjusted gross income of $32,000 in 2020, Reggies medical expense deduction will be $75
Calculation to determine Reggie medical expense deduction
Drugs $500
Add Health insurance premium-after tax $850
Add Doctors fees $1,250
Add Eye glasses $375
Total expenses $2,975
($500+$850+$1,250+$375)
Less Insurance reimbursement ($500)
Less 7.5% of Adjusted gross income ($2,400)
($32,000×7.5%)
Medical Expense Deduction $75
($2,975 - $500 - $2,400)
Inconclusion assuming Reggie who is 55, had an adjusted gross income of $32,000 in 2020, Reggies medical expense deduction will be $75
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Answer:
c. forget the repairs and sell the house as it is for $250,000.
Explanation:
The best option from the shown is to foget about the repairs and directly seel it at $250,000 because that leaves her with a loss of $50,000 instead of a $60,000 loss on her money, that is the best option financially. Also as the time passes the plan for the creation of the landfill downstreet will become more and more known and the value could decrease more.
Answer:
$0
Explanation:
Data given in the information
Product X is the byproduct.
In addition, the By products are recorded in the general ledger at the point of sale
So in this case, the quantity sold is considered only no other things would be recognized
Hence, in this the quantity sold and quantity produced is not recorded
Therefore , No ending inventory should be recognized in the general ledger for this by products