Answer:
The answer is below
Explanation:
a)
Gross income = Marc salary + Michelle salary + corporate bond interest = $69200 + $13950 + $1150 = $84300
AGI deductions = contribution + alimony = $3150 + $2150 = $5300
Adjusted gross income = Gross income - AGI deductions = $84300 - $5300 =$79000
Let us assume married filing jointly = $24000
Itemized deductions = $7300
Greater of married filing jointly and Itemized deductions = married filing jointly = $24000
personal and dependency exemptions = $4050 per person
Therefore personal and dependency exemptions for Marc, Michelle and their child = 3 * $4050 = $12150
total amount of Marc and Michelle's deductions from AGI = Greater of married filing jointly and Itemized deductions + personal and dependency exemptions = $24000 + $12150 = $36150
b) Adjusted gross income = Gross income - AGI deductions = $84300 - $5300 =$79000
Answer:
33,793 pizzas
Explanation:
The annual break-even sales level for the number of pizzas sold in the location is computed using the break-even sales units formula below:
break-even sales=fixed costs/contribution margin per pizza
fixed costs=$245,000
contribution margin per pizza=selling price-variable cost
selling price=$12.50
variable cost=selling price*42%
variable cost=$12.50*42%
variable cost=$5.25
contribution margin per pizza=$12.50-$5.25
=$7.25
break-even sales=$245,000/$7.25
= 33,793 pizzas
Answer:
Henry is the intended beneficiary of the insurance policy and as such, he is bound to the time limitations and all the other clauses included in the contract.
Explanation:
Intended beneficiaries are third parties that can benefit from a contract. Third parties are not part of the contract and may not even know that they were included as beneficiaries in it, but they are bound by all the legal clauses included in the contract. They must be included in the contract and all the benefits they might obtain have to be explicitly established.
Answer:
duress
Explanation:
A contract may not be enforced it any of the parties does not give genuine or real assent, i.e. they freely agree with the contract terms.
Duress happens when one of the parties threatens to do something bad or wrong to the other party in order to force them to enter a contract. Contracts agreed under duress can be invalidated.
Answer:
True
Explanation:
A public limited company can pay cash dividends to its shareholders for their contribution to the company. Therefore, the statement "West Company paid cash for dividend" is correct.
No other form of organization cannot pay dividends. They can pay a share of profit or extra benefits. Only in the corporation, especially in public limited, shareholders are given a cash dividend by its management body.
