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umka21 [38]
3 years ago
13

Sally is single, age sixty, and works as sales clerk in 2018. She has no other income. Sally contributed $2,000 to her IRA. Afte

r the adjustment for her IRA deduction, the AGI on her return is $26,000. What is the maximum retirement savings contribution credit she can claim?a) 0b) $200c) $400d)$1000
Business
1 answer:
Vinvika [58]3 years ago
8 0

Answer:

$200

Explanation:

Data provided in the question:

Sally is single and age = 60

Amount contributed by Sally to her IRA = $2,000

AGI on her return = $26,000

Now,

For single and aged 60:

The maximum eligible contribution per taxpayer will be $2,000

The credit rate = 10%.

Therefore,

The maximum credit that Sally will get

= 10% of Amount contributed by Sally to her IRA

= 10% of $2000

= 0.10 × $2,000

= $200

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Bailey Corp. has the following information: Beginning Inventory (Jan 1) Ending Inventory (Dec 31) Raw Materials Inventory $ 25,3
Amanda [17]

Answer:

See below

Explanation:

The cost of goods manufactured is computed as;

Beginning inventory

$25,300

Add ;

Raw materials purchases

$106,100

Cost of goods available for sale

$131,400

Less:

Ending inventory

$39,100

Cost of goods sold

$92,300

Add:

Beginning work in process

$24,100

Less:

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4 0
3 years ago
Earned value is: Group of answer choices The real budgeted value of the work that has actually been performed to date. The total
murzikaleks [220]

Answer:

The real budgeted value of the work that has actually been performed to date.

Explanation:

Earned value refers to the three primary project success metrics: cost, schedule, and performance. It measures the actual work performed against its budget and schedule. Did the actual work performed corresponds to its work budget and was it performed on time following the schedule? Earned value represents how much of the project's budget has been performed to date, both in monetary and productive terms.

4 0
3 years ago
anson Corporation Co.'s trial balance included the following account balances at December 31, 2018: Accounts receivable $12,000
VashaNatasha [74]

Answer:

Current Assets = $85,000

Explanation:

                         Anson Corporation

                     Balance Sheet (Partial)

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Assets

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Accounts receivable      $12,000

Inventories                       40,000

Treasury Bill                     30,000

<u>Prepaid insurance              3,000</u>

Total current assets     $85,000

Prepaid insurance $6,000/2 = $3,000 is for current years. Therefore, $3,000 is a current assets. Since treasury bill is an investment and for 3 months, it is a current assets.

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3 years ago
As a financial responsibility, the sponsoring broker must keep a journal
anzhelika [568]
The answer is for each escrow account.
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Using marginal analysis to decide whether to consume an additional slice of pizza requires making a comparison of the benefits a
Sedaia [141]

Answer:

True

Explanation:

3 0
3 years ago
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