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icang [17]
3 years ago
5

Mrs. and Mr. Strange, who are filing a joint return, have adjusted gross income of $50,000 in 2019. During the tax year, they pa

id the following medical expenses for themselves and for Mrs. Strange's father, Mr. Stark. The Strange's could claim Mr. Stark as their dependent, but he has too much gross income. Insulin for Mr. Strange $1,000 Health insurance premiums for Mr. and Mrs. Strange (after-tax) $3,100 Hospital bill for Mr. Stark $5,200 Doctor bill for Mr. Strange $4,000 Mr. and Mrs. Strange (both age 40) received no reimbursement for the above expenditures. What is the amount of their deductible itemized medical expenses? Group of answer choices $3,750 $9,550 $8,100 $13,300
Business
1 answer:
Valentin [98]3 years ago
3 0

Answer:

$8,300

Explanation:

Health insurance premiums for Mr. and Mrs. Strange (after-tax) $3,100

Add Hospital bill for Mr. Stark $5,200

Total $8,300

Therefore the amount of their deductible itemized medical expenses is $8,300

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A company’s past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, an
Naddika [18.5K]

Answer:

$213,250

Explanation:

The calculation of cash inflow is shown below:-

                    Expected cash collections

                       For the month of June

Months       Sales              Percentage     Expected collections

April           $282,500        5%                    $14,125

May            $213,750         30%                  $64,125

June           $225,000        60%                 $135,000

Total collection in the month of June        $213,250

Here we assume Sales for April$282,500, May $213,750 and June $225,000.

Please ignore the last value as it is not relevant to the question

4 0
3 years ago
The median age for u.s. blacks currently is 30.9 years; for u.s. whites it is 42.3 years. (a) based upon this information, give
Marrrta [24]

There are quite a few reasons that this difference could be observed. The lower black median age could be connected to the greater number of births in the black minority group than in the whites. Another reason could be the aging of the non-Hispanic white group to a post child-bearing age and consequently the general aging of this subgroup of the population. In general, differences in group medians are due to the distribution of ages and the observed range of the ages in the two dissimilar population groups.

7 0
3 years ago
Recall Little’s Law that relates the 3 most important process measures (average inventory, average flow rate, and average flow t
Anna11 [10]

Answer: 0.15 years

Explanation:

According to Little's Law, it should be noted that:

I = R × T

where,

I = amount of flow units

R = rate of processing flow units

T = time

For this question,

I = $45 million

R = $300 million

Time will be:

T = I/R

T = 45/300

T = 0.15 years

Therefore, the account receivable process will use an average of 0.15 years.

7 0
3 years ago
Gertrude takes out a $5,500 subsidized Stafford loan, which must be paid back in ten years. Gertrude will graduate four years af
Sergio [31]

$2,095.30 interest will she pay by the time the loan is repaid

Solution:

The $5,500 guaranteed Stafford loan is taken from Gertrude.

The loan has a monthly compounding interest rate of 6.8 percent.

Price current= $5,500.

Present Value = $5,500

Time period = 10 years

So , N = 10 x 12 = 120 months.

Interest rate, R = 6.8/1200 = 0.005666667

PV = Pmt * [1 - (1+R)^(-N)]/(R)

5500 = Pmt * [1 - (1+0.005666667)^(-120)]/(0.005666667)

Pmt = $63.29418157

She got full refund. = 63.29418157 x 120 = $7,595.30

Interest paid = Total repayment - Loan Principal

                      = $7,595.30 - $5,500

                      = $2,095.30

7 0
2 years ago
Recruiting new employees via the Internet allows companies to _________. a.Reach candidates from across the worldb.Conduct recru
alexdok [17]
D. All of the above.

Internet allows reaching out candidates from all over the world and at the same time does require you to physically be there for recruitment enabling you to conduct recruitment sessions from office. Further, the resumes and CVs would be sent online requiring no need for physical copies of them.
4 0
3 years ago
Read 2 more answers
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