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Kay [80]
3 years ago
9

Zack has collected the following information for preparing his 2019 taxes: Gross income $74,000, tax credits $2,500, itemized de

ductions $9,000, deductions for AGI $5,000, tax prepayments $8,400. Based on this information, Zack's "adjusted gross income" equals $________. and his "taxable income" equals $_______________.
Business
1 answer:
Alexus [3.1K]3 years ago
3 0

Answer:

Zack's adjusted gross income

His adjusted gross income is equal to his gross income minus eligible deductions.

Adjusted gross income (AGI) = gross income - deductions for AGI

                                                = $74,000 - $5,000

                                                = $69,000

Zack's taxable income

His taxable income is equal to his AGI minus itemized deductions minus tax prepayments minus tax credits.

Taxable Income = $69,000 - $2,500 - $8,400

                           = $58,100

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IrinaK [193]

Answer: activities the right paper work leadership order and just do your best to make it fun but not let it get out of hand and keep the meetings to important subjects

Explanation:

5 0
3 years ago
Is it possible for one country to have both an absolute advantage and a comparative and a comprative advantage over another coun
dezoksy [38]

Answer:

Yes

Explanation:

Because every country has a advantage.

6 0
3 years ago
Jacobs Company has inventory of 15 units at a cost of $12 each on June 1. On June 5, Jacobs purchased 10 units at $13 per unit.
vekshin1

Answer:

$210

Explanation:

Date    Description   Units  Price  Total Balance

1-Jun    Opening        15   $12   $180   $180  

5-Jun    Purchase      10      $13     $130          $310  

12-Jun   Purchase      20     $14     $280         $590  

17-Jun   *Sale             -30               -$380        $210  

*Working

Sale

Date          Units   Price     Total

17-Jun       -15 $12   $(180)  

                -10   $13   $(130)  

                -5   $14   $(70)  

Total Sale -30           -$380  

So, the correct answer is $210.

3 0
4 years ago
The _______________ on Lay's potato chips informs customers that the chips received the "Best Taste Award" among leading classic
MA_775_DIABLO [31]

Answer:

seal

Explanation:

Based on the information provided within the question it can be said that this information is found of the seal of the Lay's potato chips bag. This is is a type of award symbol that demonstrates excellence in a certain area for the product in question. Which in this scenario refers to the "Best Taste Award" that was given to the company by the American Culinary Institute.

4 0
3 years ago
Condensed financial data are presented below for the Phoenix Corporation:
Solnce55 [7]

Answer:

Part 1.

3.1 times

Part 2.

a. total assets

Part 3

d. the company's ability to generate sufficient cash to repay debt when due.

Explanation:

<u>For Part 1</u>

Inventory turnover measures the activity of liquidity of a company`s inventory. The higher the ratio in comparison, the more efficient the inventory is managed.

<em>Inventory turnover = Cost of Sales ÷ Inventory</em>

therefore,

Inventory turnover = $982,500 ÷ $ 312,500 = 3.1 times

<u>For Part 2</u>

In a common-size Balance Sheet, each item is expressed as a percentage of total assets whereas in a common size Income Statement, Sales revenue is expressed as 100 % and every other item is expressed as a percentage of sales revenue.

<u>For Part 3</u>

Solvency or Liquidity is the ability of short term assets to cover short term liabilities. Also put, it is  the company's ability to generate sufficient cash to repay debt when due.

5 0
3 years ago
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