Answer:
Samantha should use the standard deduction.
Explanation:
Samantha's total itemized deductions include:
- donations to church and other charities $2,150
- medical and dental expenses (exceeding 10%) $1,270
- State income tax $960
- Job related expenses (exceeding 2%) $1,485
- total $5,865
Samantha's standard deduction = $6,350, since it is higher than her itemized deductions, then she should use the standard deduction.
Elena is not correct in the two situations.
<h3>What is the effective annual rate?</h3>
Effective annual rate is the interest rate when the effects of compounding is taken account for. In order to determine if Elena is correct, the effective annual rate has to be calculated.
Effective annual rate = (1 + APR / m ) ^m - 1
M = number of compounding
(1 + 0.12 / 12)^12 - 1 = 12.68%
(1 + 0.12 / 2)^2 - 1 = 12.36%
To learn more about the effective annual rate, please check: brainly.com/question/4064975
The opportunity cost is greater than the one of the apples
Answer and Explanation:
The computation is shown below:
= (Purchase value of the inventory - returned goods) × discount applied
= ($46,000 - $4,600) × 2%
= $828
Here the perpetual inventory is followed so the Swifty should credit the discount amount by the name of the inventory at $828
Therefore the inventory should be credited by $828