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
vovangra [49]
3 years ago
8

In 2019, George and Martha are married and file a joint tax return claiming their two children, ages 10 and 8 as dependents. Ass

uming their AGI is $119,650, George and Martha's child tax credit is: a.$0. b.$4,000. c.$2,000. d.$3,000.
Business
1 answer:
Tresset [83]3 years ago
8 0

Answer:

The answer is option (b)$4,000

Explanation:

Solution

Given that:

Now

The income of George and Martha is =$119.650

For year 2019 child tax credit is $2,000 per dependent child subject to a minimum income of $2,500.

The Income limit for Married Jointly Filed is= $400,000.

Thus

They are eligible for $2,000 tax credit per child.

So,

Tax Credit = $2,000 * 2

= $4,000

Note: The AGI limit phaseout begins at $400000 for joint tax filers

You might be interested in
A law firm received $2,500 cash from a client for legal services to be rendered in the future. The full amount was credited to t
Savatey [412]

Answer:

D.

Revenues to be understated

Explanation:

Understated amounts indicate a reported amount is not correct and the reported amount is less than the true amount.

5 0
3 years ago
One key to success in a career is to be an accomplished
vlabodo [156]

I think the answer is problem solver (but I’m not 100% sure)

3 0
2 years ago
Read 2 more answers
Suppose that in your first year of college you spend $21,800.00 more than you earn. In your second year, your expenses increase
lilavasa [31]

Answer:

$483,000.987

you are RICHHHHHHHHHH

Explanation:

8 0
3 years ago
In order to make a resume persuasive and not self-centered omit the use of the word ____.
KengaRu [80]
In order to make a resume persuaisive and not self-centered omit the use of the word I,ME and My

so the answer is: D all of the above
7 0
3 years ago
Read 2 more answers
Flounder Company had the following stockholders’ equity as of January 1, 2020. Common stock, $5 par value, 20,700 shares issued
MAVERICK [17]

Answer and Explanation:

Date        Account Title and Explanation                            Debit          Credit

Feb 1     Treasury Stock (2000*$19)                                     $38,000

             Cash (2000*$19)                                                                       $38,000

              (Repurchased 2,000 treasury stock @ $19 per)

Mar 1     Cash (870*$17)                                                          $14,790

             Retained Earning {870*($19-$17)}                              $1,740

             Treasury Stock(870*$19)                                                           $16,530

             (Reissued 870 out of 2000 treasury stock @ $17 per)

Mar 18   Cash (530*$13)                                                           $6,890

              Retained Earning {530*($19-$13)}                             $3,180

              Treasury Stock(530*$19)                                                         $10,070

              (Reissued 530 out of 2000 treasury stock @ $13 per)

Apr 22  Cash (510*$21)                                                              $10,710

             Treasury Stock(510*$19)                                                            $9,690

             Paid in Capital from Treasury Stock{510*($21-$19)}                 $1,020

             (Reissued 510 out of 2000 treasury stock @ $17 per)  

 

NOTE : loss of sale should be charges from Retained Earning.

7 0
2 years ago
Other questions:
  • Hoffman Corporation retires its bonds at 106 on January 1, following the payment of semiannual interest. The face value of the b
    9·1 answer
  • The system requirement where all transactions must have audit trails would fall under which system requirement category? input p
    10·1 answer
  • An investor seeking to recover stock market losses from a CPA firm associated with an initial offering of securities based on an
    10·1 answer
  • If a company from Country A decides to sell merchandise to a company from Country B, then the company from Country A ________.
    10·1 answer
  • Brainliest + points<br><br> What is bond investment?
    6·1 answer
  • Smarty Pants Company sells two products, green camouflage pants and orange camouflage pants. Smarty Pants predicts that it will
    11·1 answer
  • Monty loaned his friend Ned $20,000 three years ago. Ned signed a note and made payments on the loan. Last year, when the remain
    12·1 answer
  • Paid-in-capital in excess of par represents the amount of proceeds a. from the original sale of common stock b. in excess of the
    13·1 answer
  • Identify and explain in detail 5 objectives of an entrepreneur
    7·1 answer
  • At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $366,000 and Total Liabilities of $28,300 a
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!