All categories

3 years ago

Henry and Charlotte are both 28 years old.

1 answer:

6 0

The statement "Henry is not required to report the $12,000 alimony received as income and Charlotte cannot claim alimony paid as an adjustment to income " is True

Explanation:

Significant information provided - The divorce between Charlotte and Henry was finalized in January 2019 and split in 2018.

Charlotte paid $12000 for Henry's foodstuffs in 2019.

The review and conclusion of the study - In the case of the divorce finalized in 2019 or later, the food allowance is now no longer deducible and is not declared as wages by the beneficiary according to the U.S. Internal Revenue Service.

In that case, the $12000 under income received will not be declared by Henry and Charlotte is not entitled to claim alimony as a result of salary adjustment.

So, Option B is correct statement.

You might be interested in

In today's decentralized business world, ________ the most important strategic decisions.

prisoha [69]

In today's decentralized business world, TOP MANAGERS are the most important strategic decision makers. Decentralization means distribution of decision making power through the hierarchy of an organization. Decentralization has increases in today's business world as it provides a dynamic environment to work.
Though, in decentralization power is also in hands of lower managers, middle managers, etc the top level managers still hold the rights to make decisions.

6 0

4 years ago

What does it mean to be "in the black?"

11Alexandr11 [23.1K]

Answer: Option d

Explanation: Using the word "black" refers to the profit margins of a corporation and existing financial health. A corporation seems to have been in the black when it is financially viable or, more explicitly, if after taking account for all expenditures, the business generates positive income.

The phrase has origins in the past of accounting where accountants manually checked financial information in their records before hardware and software were used.

Accountants used various colored inks— both black and red — to indicate the productivity of a product. Unlike a black business, in the red is seen as one of with unfavorable results or unprofitable.

5 0

4 years ago

Read 2 more answers

2020 Discuss the effect the FOMC's actions (or lack of actions) had on the following: a. The stock market as measured by the Dow

jok3333 [9.3K]

Solution and Explanation:

The FOMC’s actions are as follows:

1.a. The dow jones Fell by around 13% from the 23185 to the 20815 even if fed cut the rates by 100 basis points. This fall was due to the economy heading into an impending recession.

1.b. The 10 year treasury yield fell from .94% on the friday to .73% on the monday .

The 3 months treasury yield fell from .287% on the friday to .124% on the Monday.

4 0

4 years ago

We can imagine the financial manager doing several things on behalf of the firm’s stockholders. For example, the manager might d

s2008m [1.1K]

Answer:

a. Make shareholders as wealthy as possible by investing in real assets.

Explanation:

We can imagine the financial manager doing several things on behalf of the firm’s stockholders. For example, the manager might do is make the shareholders as wealthy as possible by investing in real assets.

The shareholders has paper financial leverage and only the value of decomposition of the firm increases, it means that the shareholders have the ability to do the financial leverage.

And the hell used to decompose in the market which it is good to I must be have to the ability to do it in a simple way to think in a simple language.

7 0

3 years ago

Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in a series

fiasKO [112]

Answer:

1. First production department's equivalent units of production for May for:

Materials = 185,000 units

Conversion = 178,000 units

2. First production department's cost per equivalent unit for May for:

Materials = $0.30

Conversion = $2.00

3. First production department's cost of ending work in process inventory for May for:

Materials = $52,500

Conversion = $350,000

Total = $402,500

4. First production department's cost of the units transferred to the next production department for May for:

Materials = $3,000

Conversion = $6,000

Total = $9,000

Explanation:

Note: The data in this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the reproduced question with the sorted data.

The explanation to the answer is now given as follows:

1. Calculate the first production department's equivalent units of production for materials and conversion for May.

Note: See the part 1 of the attached excel file for the calculations:

First production department's equivalent units of production for May for:

Materials = 185,000 units

Conversion = 178,000 units

2. Compute the first production department's cost per equivalent unit for materials and conversion for May.

Note: See the part 2 of the attached excel file for the calculations:

First production department's cost per equivalent unit for May for:

Materials = $0.30

Conversion = $2.00

3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May.

First production department's cost of ending work in process inventory for May for:

Materials = Cost per equivalent unit for material * Units transferred to the next production department = $0.30 * 175,000 units = $52,500

Conversion = cost per equivalent unit for conversion * Units transferred to the next production department = $2.00 * 175,000 units = $350,000

Total = $52,500 + $350,000 = $402,500

4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.

First production department's cost of the units transferred to the next production department for May for:

Materials = Cost per equivalent unit for material * Material ending work in process = $0.30 * 10,000 units = $3,000

Conversion = cost per equivalent unit for conversion * Conversion ending work in process = $2.00 * 3,000 units = $6,000

Total = $3,000 + $6,000 = $9,000

Note: See part 1 of the attached excel file for the calculation of ending work in process of Material and Conversion.

Download xlsx

xlsx

pdf

8 0

3 years ago