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olga2289 [7]
3 years ago
10

.Dorothy Fonda is an unmarried head of household with the following income for the year: Wages $34,500 Bank interest $275 Munici

pal bond interest $115 Lottery prize $325 Gift from her father $5,000 Dorothy contributed $1,250 to her traditional IRA, which she will deduct. Compute her AGI.
$33,250.00

$33,575.00

$33,850.00

$33,965.00
Business
2 answers:
anygoal [31]3 years ago
4 0

Answer:

$33,850.00

Explanation:

The computation of the Adjusted gross income (AGI) is shown below:

= Wages + bank interest + lottery price - standard deduction

= $34,500 + $275 + $325 - $1,250

= $33,850

The standard deduction is a contribution to her traditional IRA. All other items which are given in the question are not relevant. Hence, we ignored it

nydimaria [60]3 years ago
3 0

Answer:

Your correct answer is C $33,850.00

Explanation:

Wages + bank interest + lottery price - standard deduction

= $34,500 + $275 + $325 - $1,250

= $33,850

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3 0
3 years ago
One Chicago has just introduced a new single stock futures contract on the stock of Brandex, a company that currently pays no di
bekas [8.4K]

Answer:

A: $127.2

B: $123.384, $3.816 per share and $3,816 per contract

C: 9.43%

Explanation:

A: Futures price

F° = S° (1 + rₙ) = $120 x 1.06

= $127.20

B: Change in Future Price and Investor Margin account:

New Spot = $120 (1 – 0.03)

= $120 x 0.97

= $116.40

New Futures = $116.40 (1.06)

= $123.384

The long investor loses = $127.20 - $123.384

= $3.816 per share

or $3.816 (1,000) = $3,816 per contract

C: Percentage return on the investor’s position:

Percentage return = $12,000 / $127,200

= 9.43%

5 0
3 years ago
What is the difference between a debit card and a cash card? A. A debit card is less secure than a cash card.  B. A cash card c
Nimfa-mama [501]

Answer:

C. A cash card is not tied to a bank account.

Explanation:

3 0
3 years ago
Because Mei-ling has had such a successful first few months, she is considering other opportunities to develop her business. One
rosijanka [135]

Answer:

1. "Would you consider these mixers to be inventory or should they be classified as supplies or equipment?" Why?

The mixers will be part of merchandise inventory since Mei-ling is purchasing them and will later resell them at a higher price and hopefully make a profit. Products classified as supplies or equipment are used by the company in their day to day activities and are not meant for resale.

2. "I’ve learned a little about keeping track of inventory using both the perpetual and the periodic systems of accounting for inventory. Which system do you think is better? Which one would you recommend for the type of inventory that I want to sell?"

The perpetual inventory system is much better than the periodic inventory system, but it is also more expensive to use. Depending on the number of mixers that are going to be sold, you can do it hand or use a computer software which would make things much easier, but you need to spend time (labor) and money to do so.

If Mei-ling is expecting to sell only a small number of mixers, then she could use a periodic inventory system which is much more simple and is only updated every certain period of time (monthly, quarterly, semiannually or annually). This is a cheaper system but it is the best alternative.

3. "How often do I need to count inventory if I maintain it using the perpetual system? Do I need to count inventory at all?"

Even if you use the perpetual inventory system, you will eventually need to physically count your inventory in order to make sure that the records have been properly made, but you could do it once or twice a year. Again it depends on the total units that she expects to have in inventory.

7 0
3 years ago
convenient product is the product that is relatively inexpensive item that merits little shopping effort. Is it true or false?​
gayaneshka [121]

Answer: True

Explanation:

A convenient product is the product that is relatively inexpensive item that merits little shopping effort.

A convenient product refers to an inexpensive product which requires a little amount of effort from the consumer to purchase it. Some examples of convenience products include soft drink, bread, coffee.

Therefore, the statement given is true.

8 0
2 years ago
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