1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
umka21 [38]
3 years ago
10

Phil, age 20, is single and can be claimed as a dependent on his parent's return. He had $150 in interest income and wages of $7

,000. What is his standard deduction?a. $7,000 b. $7,150c. $7,350 d. $12,000
Business
1 answer:
Korvikt [17]3 years ago
3 0

Answer: B - $7,150

Explanation: Standard taxation is an option by IRS to reduce an inidvidual taxable income. this is subject to an individuals filling status.

Phil who is aged 20, single and who can claim a dependent on his parents tax filling return. As of 2019, his standard tax deduction is limited to his earned income plus $350.

According to the above question, Phil earns $7,000 as wages plus $150 in interest income.

From the above information, Phil has a standard tax of $7,150.

You might be interested in
You would like to buy shares of Sirius Satellite Radio (SIRI). The current ask and bid quotes are $4.30 and $4.27, respectively.
erica [24]

Answer:

$2,666

Explanation:

Given that:

  • Current ask price: $4.30
  • Bid quotes $4.27
  • Market buy order: 620 shares

So, the cost to buy these shares:

Number market buy order * Current ask price/share

= 620*$4.30

= $2,666

Hope it will find you well.

5 0
3 years ago
Suppose that the government of Ping's country hears of the working conditions and the country seizes the Quality Dragon plant wh
ella [17]

Answer: a. expropriation

Explanation:

Expropriation happens when privately owned property are forcefully taken by government for it to be used by the general public. It is an act of depriving people of their right to property, although expropriation is to the advantage of the general public. In most countries especially in the US expropriation occurs when there is a need to embark on certain infrastructural project such as airports, railroads, etc.

6 0
3 years ago
The restaurant sector continues to grow despite the hurting economy.<br><br> O True<br><br> O False
Mkey [24]

Answer:

True.

Explanation:

^^

5 0
2 years ago
Which of the following is TRUE of debt securities? (A) Debt securities include preferred stocks. (B) Debt securities typically p
Bingel [31]

Answer:

The statement which is correct and true is that the debt securities usually pay interest for the fixed period or year. Therefore, the correct option is B.

Explanation:

Debt securities are the securities which refer to a debt instrument like CD (Certificate of deposit, preferred stock, corporate bond and municipal bond, it is sold or bought among the parties.

It is also called as the securities which are fixed income, therefore, the statement which is correct is that these securities pay interest for a fixed period.

6 0
3 years ago
A management philosophy that guides the actions of company members toward the goal of actively managing the upstream and downstr
Inessa05 [86]

Answer:

Supply Chain Orientation

Explanation:

Supply Chain Orientation refers to a management philosophy that guides the actions of company members toward the goal of actively managing the upstream and downstream flows of goods, services, finances, and information across the supply chain.

3 0
2 years ago
Other questions:
  • The Porter Beverage Factory owns a building for its operations. Porter uses only half of the building and is considering two opt
    13·1 answer
  • ACCT 167 - Computer Equipment
    10·2 answers
  • To encourage potential buyers to take its new Model 3 sedan for a test drive, BMW posts a video on its website of the Model 3 sp
    13·1 answer
  • Which concept do businesses Which professional source provides entrepreneurs with expertise and knowledge about buying an existi
    9·1 answer
  • When a hurricane rips through florida, the price of oranges rises because the:
    14·1 answer
  • According to the possible trade-off example between warships and drinking water in the text, the policy question that should be
    5·1 answer
  • Splish Brothers Inc. accepted a national credit card for a $11200 purchase. The cost of the goods sold is $7200. The credit card
    6·1 answer
  • Expenses are recorded as costs of doing business whether cash was paid or not.<br> True or False
    6·1 answer
  • What Is An Tsunami ill Give Brainliest If Right
    8·1 answer
  • There are two reading assignments here. I encourage you to read Has Business Left Milton Friedman Behind and then skim/read the
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!