Solution:
a. Ellie is limited to the amount of 2230 (the sum of income earned for the year plus 350) when she files her own tax return.
= $1,880 + 350
Ellie is limited to the great of 2230.
b. The additional standard deduction of 1250 or 1550 is provided to people who are 65 and over or blind in 2017 based on the filing status.
The standard allowance of ruby and Woody shall be 12600 (commonly married) plus 1250 additional allowances of ruby aged sixty-five years old and 1250 additional allowances for Woody aged sixty-five.
= $12,170 + 1250 + 1250 = 14,670
c. Shonda is limited to more than 500 (the total amount of the $150 income earned for the year plus $350) when filing her personal tax return.
This limitation only extends to the "simple" deduction norm.
The regular extra deduction number on your refund is provided to a person who is 65 or older or blind.
Therefore, Shonda's standard deduction is 2050 (500+1550).
d. Frazier can not use the standard deduction and should therefore specificity as his wife itemizes.
Hello There! The Answer to this problem is: B, C, E, G
Explanation:
Answer: $100,000
Explanation: Allison engines corporation has a profit of $150,000 after Tax.
Rate of retained earning : 40%
Retained earnings : $150,000 × 40% = $60,000
Percentage of equity in the capital is 60%
Break even point of retained earnings = Retained Earnings ÷ Percentage of equity in the capital
Break even point of retained earnings = $60,000 ÷ 0.6
Break even point of retained earnings = $100,000
<span>Gross domestic product </span>occurs when the amount of of capital per worker increases. The answer is letter A
Answer:
Dr Allowance $13,500
Cr Accounts Recivable $13,500
Dr Accounts Recivable $3,500
Cr Allow ance $3,500
Dr Cash $3,500
Cr Accounts Rec $3,500
Dr Bad Debts Expense $21,900
Cr Allowance $21,900
Explanation:
Preparation of the journal entries to record the 2019 transactions of Concord Corporation Company
Dr Allowance $13,500
Cr Accounts Recivable $13,500
(To record amount written off)
Dr Accounts Recivable $3,500
Cr Allow ance $3,500
(To reverse write-off)
Dr Cash $3,500
Cr Accounts Rec $3,500
(To record collection of writeoff)
Dr Bad Debts Expense $21,900
Cr Allowance $21,900
[$30,700-($18,800-$13,500+$3,500)]
