Sometimes the economic goals of the us will _________________

Boyd and Susan are married filing jointly in 2019. They have three children for whom they may claim the child tax credit. Their

sesenic [268]

Answer:

$5,250

Explanation:

The child tax credit provides a $2,000 tax credit for every qualifying child under 16, but the amount starts to phase out as the married couple's income is higher than $400,000.

The tax credit phases out $50 for every $1,000 of income over the $400,000 threshold: $415,000 - $400,000 = $15,000 x $50/$1000 = $750 phase out.

total child tax credit = ($2,000 x 3 children) - $750 = $6,000 - $750 = $5,250

7 0

4 years ago

List two effects of the invention of the cotton gin.

kogti [31]

Answer:

While it was true that the cotton gin reduced the labor of removing seeds, it did not reduce the need for slaves to grow and pick the cotton. In fact, the opposite occurred. Cotton growing became so profitable for the planters that it greatly increased their demand for both land and slave labor.

4 0

3 years ago

Read 2 more answers

On January 2, 20X5, Lem Corp. bought machinery under a contract that required a down payment of $10,000, plus twenty-four monthl

Jlenok [28]

Answer:

$10,500 per year

Explanation:

The computation of depreciation under SLM is shown below:-

Depreciation under Straight line method = (cash equivalent price of the machinery - Estimated salvage value) ÷ Useful life

= ($110,000 - $5,000) ÷ 10 years

= $10,500 per year

Therefore for computing the depreciation under straight line method we simply applied the above formula.

7 0

3 years ago

Ayayai Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $466,200. The estimated fair v

Nataliya [291]

Answer:

The recorded value of land, building, and the equipment is $77,700, $284,900, and $103,600 respectively.

Explanation:

The steps to compute the recorded amount is shown below:

1. First compute the total fair value of the assets:

= land + building + equipment

= $88,800 + $325,600 + $118,400

= $532,800

2. Now the recorded amount will be equal to

For land = (Fair value of land ÷ total fair value of the assets) × total payment made

= ($88,800 ÷ $532,800) × $466,200

= $77,700

For building = (Fair value of building ÷ total fair value of the assets) × total payment made

= ($325,600 ÷ $532,800) × $466,200

= $284,900

For equipment = (Fair value of equipment ÷ total fair value of the assets) × total payment made

= ($118,400 ÷ $532,800) × $466,200

= $103,600

6 0

4 years ago

Henry meets an old friend, a fitness enthusiast, at his high school reunion. His friend convinces him of the long-term health be

abruzzese [7]

Answer: Learning.

Explanation:

The change in Henry's attitude towards exercise is as a result of learning. Henry learnt of the positive benefits of regular exercise from his old time friend which serves as inspiration to enroll in a fitness center.

4 0

3 years ago

Read 2 more answers

Sometimes the economic goals of the us will __________________ with each other.