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alexira [117]
4 years ago
9

Michael earned $20,000 at the K-M Resort Golf Club during the summer prior to his senior year in college. He wants to make a con

tribution to a traditional IRA, but the amount is dependent on whether it reduces his taxable income. If Michael is going to claim the standard deduction, will a contribution to a traditional IRA reduce his taxable income? Explain.
Business
1 answer:
musickatia [10]4 years ago
5 0

Answer:

The answer is: Yes, his contribution will reduce his AGI.

Explanation:

Traditional IRA contributions are deductible from Michael's adjusted gross income (AGI), so they will reduce his taxable income. Also, traditional IRA contributions don't have any impact on Michael's standard deductions or if he chooses, itemized deductions.

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Disney starts off its stars with Disney Channel shows, records them on the Disney-owned Hollywood Record label, plays the songs
aalyn [17]

Answer: Option (D)

Explanation:

Here, in this particular case we can state that the goal of these elements introduced by Disney is to evaluate the <em>top-of-mind awareness</em>. This concept is referred to as one of the most important element of consumer behavior and  marketing research. Disney uses this concept as a measure in order to known  how is the brand ranked in the minds of their customers.

3 0
3 years ago
The required return on the stock of Moe's Pizza is 10.8 percent and aftertax required return on the company's debt is 3.40 perce
saw5 [17]

Answer:

6.88%

Explanation:

Weighted Average Cost of Capital (WACC) = [After Tax Cost of Debt * Weight of Debt] + [Cost of equity * Weight of Equity]

WACC = [3.40%*0.39] + [10.80%*0.69)

WACC = [0.034*0.39] + [0.108*0.69)

WACC = 0.01326 + 0.07452

WACC = 0.08778

WACC = 8.78%

The required return for the new project = Weighted Average Cost of Capital – Risk Adjustment Factor

The required return for the new project = 8.78% - 1.90%

The required return for the new project = 6.88%

5 0
3 years ago
Accountant's define and understand Receivables:
den301095 [7]

Answer:

The answer is E.

Explanation:

Account Receivables is the type of account that is used to record expected money from the sale of goods on credit. Account receivables is an asset to the company because future economic benefits are expected to flow to the entity. It includes all forms of receivables.

Accounts receivables is being measured at cash net realizable value.

8 0
3 years ago
Read 2 more answers
Use these wallpapers lol use me as your wallpaper and i give you brainlist also show me proof
siniylev [52]

Answer:

nice

Explanation:

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4 0
3 years ago
Review and complete the following statement regarding the Income Summary account. The Income Summary account is (debited/credite
Harlamova29_29 [7]

Answer:

credited ; debited ; retained earnings or capital account

Explanation:

The closing entries are as follows

Sales Revenue A/c Dr XXXXX

           To Income Summary XXXXX

(Being revenue account closed)

Income summary A/c Dr XXXXX

                To Expenses A/c XXXXX

(Being expenses accounts are closed)

Income summary A/c Dr XXXXX

            To Retained earning XXXXX

(Being the difference is credited to retained earning)

3 0
4 years ago
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