Answer:
$56,130
Explanation:
Calculation to determine what the amount of itemized deductions the Gibsons may claim for the year is
Stuart and Pamela Gibson
Casualty loss $17,430
[$53,200 – (10% × $357,700)]
Home mortgage interest 21,280
State tax 10,000
(18,000 income and 16,300 property
Limited to 10,000)
Charitable Contributions 28,700
Total itemized deductions $56,130
Therefore the amount of itemized deductions the Gibsons may claim for the year is $56,130
The economy is hit with a positive oil price shock in one period that raises the level of oil prices permanently. if adaptive expectations hold, this wil shift the AS curve up initially and then shift the AS curve back to original position in the following period.
<h3>What is the AS curve?</h3>
The aggregate supply curve describes the amount of real GDP that the economy supplies at different price levels. The reasoning used to construct the aggregate supply curve is different from the reasoning used to construct the supply curves of individual goods and services. The supply curve for a single good is constructed under the assumption that the prices of production inputs remain unchanged. If the price of good X rises, the unit cost for sellers to supply good X does not change, so sellers are willing to supply more of good X - so the supply curve for good X shifts upward. However, the aggregate supply curve is determined based on the price level. An increase in the price level increases the price producers receive for their output and thus increases production.
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The Cash flow on total assets ratio equals 3.8%.
Cash flow on total assets = cash flows from operations / average total assets
= 139,000 / 3,640,000 = 3.8%
A measure of profit called cash flow on total assets measures actual cash flows to the assets of the business without taking into account income recognition or income measurements. By dividing operating cash flows by average total assets, one can obtain the cash flow on total assets ratio. There may be a considerable reason for concern if the ratio falls below 10%. For a business to sustain long-term growth, it is necessary to have a positive cash flow, which essentially implies that more money goes into the till than it does out.
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A disability pension is an unearned income. Earned income comes from a salary or employment. A social security disability benefit is unearned income because it doesn't come from your employment. Still, unearned income such as this is reported on your tax. Other examples of unearned income are retirement benefit, child support, unemployment, interest or dividend that you have received.
Giving tax on Disability, however, depends on the disability plan and income of a person.
Colleges look at your SAT or ACT scores, ACT is short for American College Test.
