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slega [8]
3 years ago
12

Margo has $2,100 withheld from her wages for state income taxes during 2014. In March of 2014, she paid $400 in additional taxes

for her 2013 state tax return. Her state income tax liability for 2014 is $2,600 and she pays the additional $500 when she files her 2014 state tax return in April of 2015. What amount should Margo deduct as an itemized deduction for state income taxes on her 2014 federal income tax return, assuming she elects to deduct state and local income taxes?a. $2,100b. $2,500c. $2,600d. $3,000e. None of the above
Business
1 answer:
inn [45]3 years ago
5 0

Answer:

b. $2,500

Explanation:

amount that Margo should deduct as an itemized deduction for state income taxes on her 2014 federal income tax return, assuming she elects to deduct state and local income taxes$2100 + $400 = $2500

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Chez Fred Bakery estimates the allowance for uncollectible accounts at 3% of the ending balance of accounts receivable. During 2
yan [13]

Answer:

$50,120

Explanation:

Account receivable on December 31, 2021 × 3% = 600

Account receivable on December 31, 2021 = $600 ÷ 3% = $20,000

Accounts receivable on January 1, 2021 = $20,000 - $118,000 + $148,000 + $120 = $50,120

Therefore, the balance of accounts receivable on January 1, 2021 is $50,120.

5 0
4 years ago
Tech A says that packing a wheel bearing assembly can be done by hand with proper results. Tech B says that packing a wheel bear
AfilCa [17]

Tech A says that packing a wheel bearing assembly can be done by hand with proper results. Tech B says that packing a wheel bearing assembly with a bearing packer will get the proper results. The two statements are right. This is further explained below.

<h3>What is a wheel bearing?</h3>

Generally, the wheel bearing is simply defined as an important component of a vehicle's braking, steering, and suspension systems.

In conclusion, The one-piece hub assembly is located between the drive axle and the brake disc.

Read more about wheel bearing

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3 0
2 years ago
In order for a behavioral definition to possess _______________ ______________, two outside independent observers must agree tha
sertanlavr [38]
There should be two outside independent observers or two outside judges on the other words, that must agree and believe that the definition captures the important characteristics of the target behavior in order for a behavioral definition to possess social validity.
5 0
3 years ago
Read 2 more answers
Riley operates a plumbing business and this year the 3-year old van he used in the business was destroyed in a traffic accident.
natima [27]

Answer:

D. $4,600

Explanation:

Riley's casualty cost deduction comes from the substraction between the adjusted basis, which is the net cost of an asset after adjusting for various tax-related items, and the amount the insurance paid Riley.

6 0
3 years ago
Which of the following describes the process whose ultimate result is Illustrated by the multiplier (the result being that gross
mafiozo [28]

Answer:

2. When people spend money, that money ends up In the pockets or bank accounts of other people (or organizations) who then use that money in some way.

Explanation:

In the economy exist different types of agents: people, government and enterprises. No more.

5 0
3 years ago
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