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3 years ago

Consumers have the right to be protected against false and misleading information about goods and services.

1 answer:

3 0

The right answer for the question that is being asked and shown above is that: "TRUE." Consumers have the right to be protected against false and misleading information about goods and services. This statement is true as far as the consumer's right is concerned.

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Sammy and Monica, both age 67, incur and pay medical expenses in excess of insurance reimbursements during the year as follows:

Mademuasel [1]

Answer:

The Sammy and Monica’s medical expense deduction for regular income tax purposes is $17,750.

Explanation:

For the purpose of regular income tax, the deduction pertaining to medical expenses are available up to the extent it exceeds 10% of AGI.

Deduction available = excess expenses incurred - 7.5% of AGI

= ($16,000 + 4,000 + 2,500 +5,000) - 7.5%*130000

= 27500 - 9.750

= $17,750

Therefore, The Sammy and Monica’s medical expense deduction for regular income tax purposes is $17,750.

5 0

3 years ago

Calculate Payroll An employee earns $44 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume th

Marrrta [24]

Answer: $1750

Explanation:

Given Data

Earnings = $44/ hr

Overtime Earnings = 1.5 times Of $44

= $66

Hours worked during the week = 55 hrs

Social security tax rate = 6.0%

Medicare tax rate = 1.5%

Federal income tax = $633

Therefore:

Gross pay = Normal pay + overtime pay

Normal pay

= $44 * 40 hrs

= $1760

Overtime pay

= $66 * 15 hrs

= $990

Gross pay = $1760 + $990

= $1750

Social security tax

= 0.06 * $2750

= $165

Medicare tax

= 0.015 * $2750

= $41.25

Total tax

= $633 + $41.25 + $165

= $839.25

Net pay

= $2750 - $839.25

= $1910.75

6 0

3 years ago

One way of reducing the amount of interest you pay on a loan is to:

zavuch27 [327]

It’s the second one
(Send extra money each month)
Hope this helps!

6 0

3 years ago

Read 2 more answers

g On January 2, 2010, Howdy Doody Corporation purchased 12% of Ranger Corporation's common stock for $50,000 and classified the

Aliun [14]

Answer:

$7,200

Explanation:

The calculation of income that should be presented in the income statement is shown below:-

Dividend Received = Given percentage × Paid dividend

= 12% × $60,000

= $7,200

Therefore for computing the income that should be presented in the income statement we simply applied the above formula.

Therefore the above is the answer

8 0

3 years ago

Oregon Outfitters issues 1,700 shares of $1 par value common stock at $20 per share. Later in the year, the company decides to p

lions [1.4K]

Answer and Explanation:

The journal entries are given below;

1. Cash Dr, $34,000 (1,700 × $20)

To Common Stock $1,700

To Paid in capital in excess of par-Common Stock $32,300

(Being issue of common stock is recorded)

2.Treasury stock Dr, $4,620 (220 × $21)

To Cash $4,620

(Being repurchase of treasury stock is recorded)

3. Cash Dr, $5,940 (220 × $27)

To Treasury stock $4,620 (220 × $21)

To Paid in capital-Treasury stock $1,320

(Being reissue of treasury stock is recorded)

7 0

3 years ago