Answer:
The Sammy and Monica’s medical expense deduction for regular income tax purposes is $17,750.
Explanation:
For the purpose of regular income tax, the deduction pertaining to medical expenses are available up to the extent it exceeds 10% of AGI.
Deduction available = excess expenses incurred - 7.5% of AGI
= ($16,000 + 4,000 + 2,500
+5,000) - 7.5%*130000
= 27500 - 9.750
= $17,750
Therefore, The Sammy and Monica’s medical expense deduction for regular income tax purposes is $17,750.
<span>The basic earning per a share can be calculated by dividing the net income after taxes by the number of shares outstanding. Thus we have that the basic earning per share is 3,750,000/18,250,000 = .20547 dollars per share. The basic earning per share for peak performance is .205 dollars per share.</span>
Answer:
The correct answer is letter "B": based on mission and objectives.
Explanation:
Performance appraisals are evaluations managers make on how employees are conducting their day-to-day activities. Appraisals are standardized based on the duties and goals workers must fulfill according to their jobs. Determining if the employee is underperforming or meeting expectations will depend on that standard. However, <em>every appraisal should also pay important attention to the objectives set for the workers, and if they are reaching them or not.</em>
Answer:
a. Journal entry
b. $18,150
c. $586,850
Explanation:
a. The adjusting journal entry is as follows
Bad debt expense A/c Dr
To Allowance for doubtful debts
(Being bad debt expense is recorded)\
The computation of the bad debt expense is shown below:
= Account receivable × estimated percentage given + debit balance of allowance for uncollectible accounts
= $605,000 × 3% + $4,700
= $18,150 + $4,700
= $22,850
b. The adjusted balance in Allowance for Doubtful Accounts is $18,150
c. The cash realizable value is
= $605,0000 - $18,150
= $586,850
Answer:
The correct answer is letter "B":You have to earn below a certain amount to make contributions .
Explanation:
A Roth Individual Retirement Account (IRA) is the type of retirement account where contributions grow tax-free and allows individuals to withdraw funds under certain conditions. <em>People are eligible to open a Roth IRA as long as their income is less than $139,000 for singles and $206,000 for married couples- </em>information that applies for the year 2020.