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ddd [48]
2 years ago
6

Jennifer is divorced and files a head of household tax return claiming her children, ages 4,7, and 17, as dependents. Her adjust

ed gross income for 2018 is $211,200. What is Jennifer's total child and other dependent credit for 2018?a. $4,500b. $3,950c. $500d. $3,900
Business
1 answer:
Stells [14]2 years ago
3 0

Answer:

Ans: $ 3900 The correct answer is :

Explanation:

Explanation:

1) For  2018  phaseout  limit  for  AGI  is  $  200,000  

2)  The  credit  phaseout  by  $  50  for  each  $1000  of  MAGI  Over thereshold.

3)  $  211,200  -  $  200,000 =  $11200

4)  $11,200  ÷  $ 1000  =  11.2

=  $  12  (Round it off )

5)  $  12  ×  $ 50    = $ 600 phase out

6) Child  Credit  Per  child  is  $  2000.

7)  ( 2  kids  x  2,000  each )  -  600  =  3,400

8)  3,400  +  500 (1  kid  17  and  over )  = 3,900

You might be interested in
when an organization produces only a single product and attempts to sell it to two or more market segments, it avoids which cost
weqwewe [10]

When an organization produces only a single product or service and attempts to sell it to two or more market segments. It avoids the extra costs of developing and producing additional versions of the product.

For better understanding, lets explain the term

  • Market segmentation is simply known as the act of gathering or aggregating known buyers into groups that have common needs and will respond almost the same to a marketing action.
  • Organization that makes only a single product or service do try to avoids any extra costs that may arise because they want to focus on just one thing

From the above, we can therefore say that the answer When an organization produces only a single product or service and attempts to sell it to two or more market segments. It avoids tahe extra costs of developing and producing additional versions of the product.

Learn more from:

brainly.com/question/14950217

3 0
3 years ago
Although you may know William Shakespeare from his classic literature, what is not well-known if that he was an astute investor.
coldgirl [10]

Answer:

oh shot man idk

Explanation:

3 0
3 years ago
Carey Company had sales in 2016 of $1,560,000 on 60,000 units. Variable costs totaled $900,000, and fixed costs totaled $500,000
user100 [1]

Answer:

Results are below.

Explanation:

<u>Giving the following information: </u>

Selling price per unit= 1,560,000 / 60,000= $26

Unitary variable cost= 900,000 / 60,000= $15

Fixed costs= $500,000.

<u>First, the income statement without the changes:</u>

Sales= 1,560,000

Total varaible cost= (900,000)

Contribution margin= 660,000

Total fixed costs= (500,000)

Net operating income= 160,000

<u>Now, with the changes:</u>

Unitary variable cost= (15*0.8)= 12

Selling price= 26 - 1.5= $24.5

Sales in units= 60,000*1.05= 63,000

Fixed costs= 500,000 + 100,000= $600,000

Sales= 24.5*63,000= 1,543,500

Total variable cost= (12*63,000)= (756,000)

Total contribution margin= 787,500

Fixed costs= (600,000)

Net operating income= 187,500

3 0
2 years ago
Sadie sold 10 shares of stock to her brother, George, for $500 16 months ago. Sadie had purchased the stock for $600 two years e
wlad13 [49]

Answer:

there is gain and  receive is $100 long term gain

Explanation:

given data

Sadie sold = 10 shares

Sadie sold shares of stock = $500

time = 16 year ago

Sadie purchased the stock = $600

time = 2 year earlier

George sells  stock = $700

to find out

amount and character of his recognized gain or loss in the current year

solution

we know that George receives dual basis in the stock

his loss  = $600 - $500 = $100

and

if we consider stock is sold at a gain

then  George receives a carryover basis = $600

and

if we consider stock is sold at a loss

then  George receives  = $500

also here his sister basis and holding period is transfer to her brother

so we can say there is gain

and receive is = proceed - carryover basis

receive is = $700 - $600

receive is $100 long term gain

5 0
2 years ago
What is an accurate definition of an ability?
Sati [7]

Answer:

B)  Something a person is able to do.

Explanation:

On my assignment, got it correct.

5 0
2 years ago
Read 2 more answers
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