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3 years ago

Noah, age 65, and Ella, age 54, are married. They elect to file Married Filing Jointly.

Business

1 answer:

Free_Kalibri [48]3 years ago

8 0

Answer: 1.True, 2. False, 3.d $31,000 4 .$4,575 5. b $500 estimated tax payment 6.False

Explanation:

Tax credit is the allowance on tax given to those whose income is low in the country. In this case disability pension is considered earned income The amount of rooms and board and meal plan does not qualify as education expenses for the purpose of claiming credit on tax. The limit that is taxable is $31,000 on social security.

The amount of Noah and Ella standard deduction is $75 for sweatshirt plus $4,500 for meal plan totaling 4,575 . Noah and Ells paid ,$500 estimated tax payment because their income is low. Also, only Leo is qualify as dependent on Noah and Ells tax return

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On December 31, 2006, Frye Co. has $2,000,000 of short-term notes payable due on February 14, 2007. On February 2, 2007, Frye is

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Answer:

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where

Short term notes payable due on Feb 14 is $2,000,000

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Putting the values above:

Amount of short term notes payable = $2,000,000 - $1,500,000

Amount of short term notes payable = $500,000

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