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diamong [38]
3 years ago
10

Determine the taxable income for a family of four (husband, wife, two children) if their adjusted gross income is $78,236.00 and

their itemized deductions are $18,245.00. Use $3,050.00 as the amount of each personal exemption.
$66,036.00

$59,991.00

$75,186.00

$47,791.00
Business
2 answers:
Ivahew [28]3 years ago
7 0
I think its 75,186.00 that's what I got but check frets I might be wrong lol
neonofarm [45]3 years ago
5 0

Answer:

$47,791

Explanation:

Gross taxable income can be calculated using the formula;

Gross taxable income = Gross income - (deductions+total exemption)

Given adjusted gross income = $78,236

Deductions = $18,245

Each personal exemption = $3,050

The family total exemption = 4×$3,050 = $12,200(being a family of 4)

Substituting this values in the formula;

Gross taxable income = $78,236 - ($18,245+$12,200)

= $78,236-$30,445

= $47,791

The family gross taxable income is $47,791

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A commercial bank has $50 million in checkable-deposit liabilities and $10 million in actual reserves. The required reserve rati
Lilit [14]

The bank’s excess reserves are $6 million.

The required reserve ratio is 8%. It means that banks should keep 8% in their deposits as required reserves. The bank has a deposit of $50 million. It means it has to maintain only $4 million(50×0.08 )i.e 8% of 50 million,  as a required reserve. Excess reserves are the reserve, over and above required reserves. If overall reserves are 10 million and required reserves are only 4 million then excess reserve =6 million (10 -4)

The reserve ratio is the portion of reservable liabilities that business banks must keep onto, rather than lend out or invest. this is a requirement decided with the aid of the country's primary bank, which in America is the Federal Reserve. it is also known as the cash reserve ratio.

A reserve assets ratio for a bank which units the minimal liquid reserves that a bank ought to hold in the event of a sudden boom in withdrawals. A high reserve property ratio may limit the lending that a bank is able to do – it must maintain better amounts of cash.

Learn more about reserve ratio here brainly.com/question/13758092

#SPJ4

5 0
1 year ago
The competitive firm's supply curve is equal to A. the portion of its marginal cost curve that lies on and above AFC. B. its mar
grandymaker [24]

Answer:

a. the portion of its marginal cost curve that lies above the AVC

Explanation:

In short run, a perfectly competitive produces as long as its price is above its AVC, so revenues can cover total variable cost. If price is below AVC, the firm has to shut down. Since such a firm maximizes profit by equating Price with MC, this condition means that firm's supply curve is its MC curve lying above the (minimum point of) AVC curve.

6 0
3 years ago
Coronado's Place recorded the following data:
Lorico [155]

Answer:

The weighted average unit cost of the inventory at January 31 is $496

Explanation:

Weighted Average unit cost the average cost of units on hand on each day. It is calculated by dividing total inventory value by total available units.

Date                    Unit Received / Sold  On Hand Unit     Cost   Balance

1/1       Inventory     540 units at $2.80          540             $1,512    $1,512

1/8      Purchased   960 units at $2.3           1500            $2208   $3,720

1/12      Sold            1,300 at ($3,720/1500)   200             $3,224   $496

4 0
3 years ago
Jordan has the following assets and liabilities:-Two Cars $10,000-House $200,000-Mortgage $100,000-Cash $1,000-Car Loans $3,000-
Ilia_Sergeevich [38]

Answer:

The correct option is B. $109,000; $213,000; $104,000

Explanation:

For computing the wealth, first, we have to compute the assets and liabilities value

So, the assets = Cars + House + cash + checking account balance

                 = $10,000 + $200,000 + $1,000 + $2,000

                 = $213,000

So, the liabilities = Mortgage + car loans + credit card balance

                     = $100,000 + $3,000 + $1,000

                     = $104,000

we apply the accounting equation which equals to

Assets = Liabilities + shareholder equity

And, the wealth equal to

= Assets - Liabilities

= $213,000 - $104,000

= $109,000

Hence, Jordan's wealth is $109,000, the value of Jordan's assets is $213,000, and the value of Jordan's liability is $104,000.

Therefore, the correct option is B. $109,000; $213,000; $104,000

3 0
3 years ago
Anytown households that earn more than $75,000 tend to buy sports equipment, while households that earn less than $75,000 tend t
Tema [17]

Answer:

an electronics store

Explanation:

This is so because there is more population that earns less than $75,000 and they are people that like to spend their money on buying electronics such as TVs. So a new business dedicated to selling electronics (TVs, computers, mobile phones, and so on) could have a great opportunity with this population. More people would be attracted to visit the shop location or buying online.

Hope this answer helps you :)

Have a great day

Mark brainliest

8 0
3 years ago
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