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Sonbull [250]
3 years ago
7

DJ and Gwen paid $3,200 in qualifying expenses for their son, Nikko, who is a freshman attending the University of Colorado. DJ

and Gwen have AGI of $170,000 and file a joint return. What is their allowable American opportunity tax credit (AOTC) after the credit phaseout based on AGI is taken into account?
Business
2 answers:
navik [9.2K]3 years ago
4 0

Answer:

$1,150

Explanation:

$2,000+[(3,200-2,000) * .25]= $2,300 is their pre-limitation credit

But limited due to AGI as: $2,300 *($180,000 — 170,000/20,000) = $1,150.

MAXImum [283]3 years ago
3 0

Answer:

Explanation:

The American Opportunity Tax Credit (AOTC) refers to a tax credit for qualified education expenses for a student for the first four years of post-secondary education for American taxpayers.

The credit repays you 100% of the first $2,000 of qualified education expenses for each eligible student.

The credit also repays 25% of the next $2,000 of qualified education expenses ($500).

Since the total qualified education = $3200

= ($2,000 × 100/100) + [($3,200 − $2,000) × 0.25]

= $2000 + ($1200 × 25/100)

= $2300

Supposed credit = $2,300

The modified annual gross income, MAGI requirements for a married couple filing jointly is $160000 < x < $180000

Since Dj and gwen have AGI of $170000 and they file jointly, they get partial credit:

= $2,300 × 1/2

= $1,150.

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Anne is meticulous when it comes to planning her weekly grocery store visits. Before buying anything, she makes sure that she is
vlada-n [284]

Answer:

Anne exhibits high level of product involvement.

Explanation:

Product involvement is the level of consumers interest in the product and the associated relationship of the consumer with the product.

As it is evident from the question that  Anne is well informed about the deals and has interest in knowing about the product before buying it. This indicates the high level of product involvement.

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Do you know da way?
sveta [45]

Answer:

that is really good

Explanation:

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3 years ago
Pool Corporation, Inc., is the world's largest wholesale distributor of swimming pool supplies and equipment.
Ad libitum [116K]

The journal entries are shown below:

Bad debt expense A/c Dr  $3,378

 To Allowance for doubtful debts A/c  $3,378

(Being bad debt expense is recorded)

Allowance for doubtful debts A/c  Dr $4,510

     To Account receivable A/c $4,510

(Being written off amount is recorded)

2. The computation of the net sales is shown below:

= Gross sales - sales discount - sales return - credit card fees

= $140,756 - $1,344 - $996 - $2,129

= $136.287

A journal entry is the act of preserving or making facts of any transactions either monetary or non-monetary. Transactions are indexed in an accounting magazine that shows a organization's debit and credit score balances. The magazine entry can include numerous recordings, every of which is both a debit or a credit.

A journal entry is used to record a commercial enterprise transaction in the accounting information of a commercial enterprise. A magazine entry is commonly recorded in the trendy ledger; as a substitute, it can be recorded in a subsidiary ledger that is then summarized and rolled ahead into the general ledger.

Learn more about  journal entries here brainly.com/question/14279491

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6 0
2 years ago
1) Define JTA <br><br><br>please help<br>​
otez555 [7]

Answer:

The Full form of JTA is Job Task Analysis.

Explanation:

JTA) allows applications to perform distributed transactions, that is, transactions that access and update data on two or more networked computer resources.


Hope it helps! ◕ ‿ ◕

Sorry if it’s wrong! :(

5 0
2 years ago
Read 2 more answers
Ryngaert Inc. recently issued noncallable bonds that mature in 15 years. They have a par value of $1,000 and an annual coupon of
tatuchka [14]

Answer:

$898.54

Explanation:

The Price of the Bonds is equal to the Present Value or Fair Value of the Bonds.

Using the Financial Calculator, Input elements will be as follows :

N = 15

pmt = $1,000 × 5.7% = $57

YTM / i = 6.8%

Fv = $1,000

Pv = ?

Pv = $898.54

The Coupon rate is lower than the market rate thus the Bonds will fetch a lower price.

5 0
3 years ago
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