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Fudgin [204]
3 years ago
12

Tim is a single, cash-method taxpayer with an AGI of $50,000. In April of this year, Tim paid $740 with his state income tax ret

urn for the previous year. During the year, Tim had $4,200 of state income tax and $15,300 of federal income tax withheld from his salary. In addition, Tim made estimated payments of $1,020 and $1,540 for state and federal income taxes, respectively. Finally, Tim expects to receive a refund of $380 for state income taxes when he files his state tax return for this year in April next year. What is the amount of taxes that Tim can deduct as an itemized deduction
Business
1 answer:
oksano4ka [1.4K]3 years ago
3 0

Answer: $5960

Explanation:

Based on the analysis and the information provided in the question, the amount of taxes that Tim can deduct as an itemized deduction will be the addition of the Tim's state income tax return for the previous year, the state tax that was held during the year and the estimated state tax payment. This will be:

= $740 + $4200 + $1020

= $5960

Therefore, the amount of taxes that Tim can deduct as an itemized deduction will be $5960.

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The second step in the marketing research project involves developing the research plan. This includes specifying the ________ f
Rus_ich [418]

Answer:

constraints; data

Explanation:

In the second step of marketing research, the research plan is developed. This includes making clear the limitations that will be met during the research activities and identifying the information/data needed for marketing decision making. The research plan is aimed at answering or atleast leading to the solution of the research problem identified in the first step. Instrument used to collect information, the type of research to be carried out are all determined at this stage.

7 0
2 years ago
Superior Company has provided you with the following information before any year-end adjustments: Net credit sales are $131,750.
aleksklad [387]

Answer:

$3,553

Explanation:

Credit losses = Net credit sales × Historical percentage of credit losses

= $131,750 × 3%

= $3,953

Allowance for doubtful account has a credit balance of $400

The estimated bad debt expense can therefore be calculated as:

Bad debt expense = Credit losses - Allowance for doubtful accounts credit balance

= $3,953 - $400

= $3,553

Hence, the estimated bad debt expense using the percentage of credit sales method is $3,553

5 0
3 years ago
Suppose a drought in australia has seriously impaired agricultural productivity. How would that impairment in productivity affec
Kryger [21]

Suppose a drought in australia has seriously impaired agricultural productivity. This impairment in productivity affect short-run aggregate supply by causing  the short-run aggregate supply curve to shift to the left.

The aggregate supply curve shifts to the left as the price of key inputs rises, making a combination of lower output, higher unemployment, and higher inflation possible to shift to the left.

The aggregate supply model is a model which shows what determines total supply for the economy and how  total supply interact at the macroeconomic level.

The aggregate supply curve shifts to the right as productivity increases or the price of key inputs falls, which will make a combination of lower inflation or  higher output, as well as the  lower unemployment is  possible.

To know more about aggregate supply here:

brainly.com/question/16419230

#SPJ4

5 0
1 year ago
Farmer Brown’s total cost curve is a. increasing at an increasing rate. b. increasing at a decreasing rate. c. increasing at a c
Rufina [12.5K]

The question is incomplete:

If Farmer Brown plants no seeds on his farm, he gets no harvest. If he plants 1 bag of seeds, he gets 5 bushels of wheat. If he plants 2 bags, he gets 9 bushels. If he plants 3 bags, he gets 12 bushels. A bag of seeds costs $120, and seeds are his only cost.

Farmer Brown's total-cost curve is

a. increasing at an increasing rate.

b. increasing at a decreasing rate.

c. increasing at a constant rate.

d. decreasing.

Answer:

a. increasing at an increasing rate.

Explanation:

To determine the answer, you can create a graph with the information given hich is attached.

You can see that the curve is increasing and because of that you can eliminate option d that is decreasing. Then, you have to consider that increasing at a constant rate would show an straight line which is not the case. Also, increasing at a decreasing rate would show a decreasing slope which is not what you see in the graph. Because of that, the answer is that Farmer Brown’s total cost curve is increasing at an increasing rate because the graphs shows an increasing slope.

8 0
3 years ago
If two or more users are waiting for the other user to release a lock before they can proceed, this is known as a ____.
ra1l [238]
The correct answer to go in the blank would be ''Deadlock''.

3 0
3 years ago
Read 2 more answers
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