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just olya [345]
3 years ago
10

A single individual who is not an active participant in a qualified retirement plan, earned $28,000. The maximum tax deductible

contribution that can be made to an IRA is?[A] $2,000[B] $3,600[C] $5,500[D] $7,000[C] -
Business
1 answer:
Usimov [2.4K]3 years ago
7 0

Answer:

D) $7,000

Explanation:

The following contribution limits are valid for the 2019 and 2020 tax periods:

If the taxpayer is over 50 years old and is not actively participating in an employer sponsored retirement plan, he/she can make a $7,000 tax deductible contribution per year to an IRA. This amount is the same regardless of the taxpayer's adjusted gross income.

If the taxpayer is under 50, the maximum tax deductible contribution is $6,000 per year.

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Silver Co. has a $330 petty cash fund. At the end of the first month the accumulated receipts represent $56 for delivery expense
xxTIMURxx [149]

Answer and Explanation:

The journal entry is shown below:

Delivery expenses Dr $56

Merchandise inventory Dr $179

Miscellaneous expenses $25

                 To Cash $260

(Being the reimbursement of the account is recorded)

For recording this we debited all expenses and credited the cash as it increased the expenses and decreased the assets

3 0
3 years ago
Giả sử anh/chị đang chuẩn bị thành lập một doanh nghiệp kinh doanh về một/hoặc một số sản phẩm trong một lĩnh vực. Hãy xây dựng
Fofino [41]

Pls type in english... Question not understandable

3 0
3 years ago
Jim operates his business on the accrual method and this year he received $4,000 for services that he intends to provide to his
Ainat [17]

Answer:

He can choose to defer the recognition of the income until next year, only if the income is not recognized for financial accounting purposes.

7 0
4 years ago
Suppose the economy is producing at the natural rate of output. An increase in consumer and business confidence will cause _____
Leokris [45]

Answer:

d) no change; a decrease

Explanation:

The Real GDP (gross domestic product) is a macroeconomic term which is the measurement of the value of services and goods produced by economy in a certain or specific time period compared to normal GDP.  The influencer elements of Real GDP are very miscellaneous due to long run and short run periods. Then, the determinants which impact on the long run growth of an economy are:

1) Growth of productivity that means the ratio of economic outputs to inputs

2)Demographic changed that means the change of quantity or quality of employment, age structure and etc.

3)Labor Force participation which means that which amount participation there is in labor activities.

As seen above, the consumer and business confidence will not have any positive or negative effect on the real GDP.

Inflation is one of the most important macroeconomic indicator that intends the rate how the purchase power of the money is falling  by the rising on the price levels of goods and services. In long run, the most influencing element for inflation is the rate of money supply but if we consider business and consumer confidence are the positive things for the developing of GDP, then they will have a little bit decrease effect on inflation.

8 0
3 years ago
Type the correct answer in the box. Spell all words correctly. Which view in a presentation program displays your slides in full
Mariulka [41]
<h3><u>Answer:</u></h3>

The view in a presentation program displays your slides in full-screen mode is Slide Show view

<h3><u>Explanation:</u></h3>

Practice the Slide Show view to present your presentation to your viewers. Slide Show view engages the entire computer screen, precisely the form your display will view on a big screen when your viewers perceive it. One can guide to the SlideShow view from the taskbar at the base of the sliding window.

When in Slide Show view in PowerPoint, click the screen with your mouse to progress within the slides in your presentation. Alternatively, touch the “Space” bar on your keyboard to progress into the slide show.

8 0
4 years ago
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