Under United States tax law, the standard deduction is a dollar quantity that non-itemizers may deduct from their income before income tax is applied. Taxpayers may select either itemized deductions or the standard deduction, either outcomes in the lesser amount of tax payable. The standard deduction is accessible to US citizens and aliens who are occupant for tax purposes and who are individuals, married persons, and heads of household. When filing her own tax return, Margie is limited to the greater of $1,050 or $1,750, it is solved by the sum of the earned income for the year plus $350.So the answer is $1,400 + $350 = $1,750
Answer:
f. $615
Explanation:
The standard cost for 2,850 pounds is $18,328.5 (=$6.45 * 2,850)
Materials purchase-price variance–favourable $855; it means standard price is higher and actual material price. Then we have actual cost for purchased 2,850 pounds is $17,527.5 (=$18,328.5-$855)
Then the actual price per pound $6.15 (=$17,527.5/2,850)
The difference between purchased and actual quantity used is 100 pounds (= 2,850 pounds - 2,750 pounds)
The direct materials usage variance for the period is $650 (= $6.15 * 100 pounds)
<u>Calculation of Total Assets:</u>
Total assets based on the given transactions can be calculated as follows:
Cash Received from Investors $6,900
Add: Amount Borrowed from Local Bank $3,900
Add: Supplies Purchased on account $1,190
Add: Equipment purchased $6,900
Less: Cash Paid for purchase of equipment -$2,190
Total Assets = $16,700
Hence based on the given transactions, the company's total assets are <u>$16,700</u>
Answer:
d. 4 years
Explanation:
Cash payback period is the time on which the company receive from the investment the same amount of money investment
cash fows = investment
regardless of discount or interest rates or changes in the value of the equipment. It is just answerng:
I put 100,000 dollars in the project, when I get 100,000 dollars back ?
The usual formula will be:
380,000/ 95,000 = 4 years
