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LUCKY_DIMON [66]
3 years ago
11

Jim and Carolyn, who are married, establish a Coverdell Education Savings Account to pay for the future college expenses of thei

r infant son. They file jointly and have a modified AGI of $100,000. What is the maximum contribution they can make to a CESA in the current year?
Business
1 answer:
nasty-shy [4]3 years ago
5 0

Answer:

$2000

Explanation:

CESA is a tax deferred account founded by the USA government  to support educational expenses for children that are not more than 18 years of age .

CESA , an acronym for coverdell education savings accounts allows a couple who filed jointly with a modified adjusted income that is not more than $220,000 to contribute not more than $2000 per student for each year.

The contribution is tax free assuming it is less than the account holder's annual adjusted qualifies expenses

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LiRa [457]

Answer:

A company has grown in size to the point that it is expanding its operations

into other countries. They are finding that the government regulations and

societal expectations for CSR issues differ drastically from place to place.

They are facing the realities of being involved in  the AWESER IS C

Explanation:

3 0
2 years ago
Read 2 more answers
Which of the following is a characteristic of the 529 plan that makes it different from the Coverdell Education Saving Account?
BARSIC [14]
A: There is no age limit for disbursement of funds
3 0
3 years ago
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Handy Man, Inc., has zero coupon bonds outstanding that mature in eight years. The bonds have a face value of $1,000 and a curre
AnnZ [28]

Answer:

5.657%

Explanation:

Data provided:

Face value = $1,000

Current market price = $640

Time of maturity, t = 8 year

Now,

the compounding formula is given as:

Face value = Current amount × (1+\frac{r}{n})^{nt}

where,

r is the rate i.e pretax rate of debt

n is the number of times the interest is compounded i.e for semiannual n = 2

thus, on substituting the values, we get

$ 1,000= $ 640 × (1+\frac{r}{2})^{2\times8}

or

1.5625 = (1+\frac{r}{2})^{16}

or

(1+\frac{r}{2}) = 1.0282

or

r = 0.05657

or

pretax cost of debt = 0.05657 × 100% = 5.657%

3 0
2 years ago
At the beginning of the current year, Snell Co. total assets were $264,000 and its total liabilities were $182,200. During the y
larisa [96]

Answer:

The company's debt ratio at the end of the current year is 66%

Explanation:

For computing the debt ratio, we need to apply the formula which is shown below:

Debt ratio = (Total liabilities) ÷ (total assets) × 100

                = ($182,200 ÷ $276,000) × 100

                = 66%

The other information which are given in the question is of no use. That's why we do not consider it. Hence, ignored it.  

7 0
3 years ago
Piper Rose Boutique has been approached by the community college to make special polo shirts for the faculty and staff. The coll
Burka [1]

Answer:

Piper Rose Boutique should accept the special order made by the college

Explanation:

Price per unit the college is willing to pay = $6

Total variable cost per unit to be incurred by Piper Rose Boutique = Direct materials + Direct labor + Variable factory overhead = $2.00 + $0.50 + $1.50 = $4,00

Since the price per unit of $6 that the college is willing to pay is greater than the total variable cost per unit of $4 to be incurred by Piper Rose Boutique, Piper Rose Boutique should accept the special order made by the college.

Note: the Fixed factory overhead is not relevant in taking the decision. Only the variable costs are relevant.

3 0
2 years ago
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