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Likurg_2 [28]
4 years ago
9

Under the terms of a divorce agreement entered into in 2017, Kim was to pay her husband Tom $7,000 per month in alimony. Kim’s p

ayments will be reduced to $3,000 per month when their 9 year-old son becomes 21. The husband has custody of their son. For a twelve-month period, Kim can deduct from gross income (and Tom must include in gross income):___________
A) 60,000
B) 48,000
C) 36,000
D) $0
E) None of these
Business
1 answer:
Iteru [2.4K]4 years ago
4 0

Answer: C) $36,000

Explanation:

Only alimony payments for the year may be deducted from gross income. Child support may not.

After the child turns 21, Kim pays $3,000 only which means that $3,000 was the alimony amount net of child support.

The yearly deduction is;

= 3,000 * 12

= $36,000

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why are power outages , oil spills, terrorism and war classified as natural risk if they are all manmade?
Ostrovityanka [42]
There classified this way because they are not controllable and could happen out of no where.
7 0
3 years ago
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Compensatory damages replace what was lost because of what the breaching party did and for this reason are often said to "make t
finlep [7]
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3 0
3 years ago
dupe's age and olu's add upto 25 years. Eight years ago , dupe was twice as old as olu. how old are they now?​
Bas_tet [7]

Dupe's present age = 14 years

Olu's present age = 11 years

Explanation:

  • Let Dupe's age be x. Let Olu's age be y. Since their ages add up to 25 years, x + y = 25
  • Eight years ago Dupe's age was double that of Olu's age. Solving by simultaneous equations. Four methods are Elimination Method, Graphical Method, Substitution Method, and    Matrix Method. Let us try out Elimination method for solving a pair of simultaneous linear equations that reduces one equation to one that has only a single variable. Once this has been done, the solution is the same as that for when one line was vertical or parallel.
  • Therefore, eight years ago, Dupe's age was 6 and Olu's age was 3 so that x=2y becomes, 6=2*3. Eight years hence, x=6+8=14 and y=3+8=11. That makes, x or Dupe's age as 14 years and y or Olu's age as 11 years.  
6 0
4 years ago
Based on the following information to construct an income statement, what is the net income amount?
Blababa [14]

Answer:

The net income amount is $101250

The income statement is made in the explanation part.

Explanation:

<u>Income Statement</u>

                                                            $                $

Sales                                                               950000

Less:COGS                                                    <u>(400000)</u>

Gross profit                                                     550000

<u>Less:Expenses</u>

Selling &Marketing expenses       160000

General & Admin expenses          200000

Depreciation                                   <u>30000  </u>  <u>(390000)</u>

Operating Profit                                              160000

less: Interest expense                                    <u>(25000)</u>

Earnings before tax                                        135000

less: Tax (at 25%)                                            <u>(33750)</u>

Net Income                                                      <u>101250</u>

4 0
3 years ago
In a contract, what is consideration? A. The list of people who are legally authorized to negotiate the contract B. An exchange
vovikov84 [41]
Consideration<span> is the concept of legal value in connection with </span>contracts, so option <span>A. The list of people who are legally authorized to negotiate the contract !</span>
4 0
3 years ago
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