They have a tax due of $6,453.36
Explanation:
Gross income = $159,800
Deductions for AGI = $5,500
Itemized deductions = $25,000
Tax credits = $2,000
Federal income tax = $22,000
AGI = gross income - deductions for AGI
AGI = 159800 - 5500
AGI = 154300
Taxable income = AGI - itemized deductions
Taxable income = 154300 - 25000
Taxable income = $1,29,300
Using tax table of 2019
Gross tax = 32170 + ( 129300 - 88359 ) × 24%
Gross tax = $17,546.64
Tax due = gross tax - tax credit - withholding
Tax due is = 17546.64 - 2000 - 22000 = - 6453.36
Tax due is = $6,453.36
Answer:
=$5,533.33
Explanation:
James took four weeks of paid leave. It means earned his salary but missed out on overtime earnings.
His hourly pay is $25; overtime pay will be $50 per hour
Monthly qualifying income is similar to average monthly income. The term is used mostly in credit assessments.
regular monthly income for James equal to yearly pay divide by 12 months
=$52,000/12
=4,333.333
Overpay income
6 hours per week x 4 weeks per month x $50 per hour
=6 x 4 x $50
=24 x $50
=$1200
Monthly qualifying income = 4,333.33 + 1200.00
=$5,533.33
Answer:
New Long term debt = $8000
Explanation:
The computation of the net new long term debt is given below:
Sales $750000
Less: Expenses:
COGS -$540,000
Selling expenses -$85,000
Depreciation -$190,000
Interest- $65,000
Total Expenses -$880,000
Net Loss -$130,000
Add: Non- cash expense ie. Depreciation +$190,000
Net Cash flow $60,000
Less: Cash Dividend declared -$68,000
New Long term debt = $8000
You and your friends often do this sort of thing. This is an example of...generalized reciprocity
Generalized reciprocity :
Generalized reciprocity is the phenomenon that individuals treat others in the same way that others treated them in the past. Besides the behavioral outcomes, whether intention information also manipulates generalized reciprocal behavior remains unclear.
What is an example of generalized reciprocity?
Generalized reciprocity is gift giving without the expectation of an immediate return. For example, if you are shopping with a friend and you buy him a cup of coffee, you may expect him to buy you one in return at some time in the future.
What do anthropologists mean by generalized reciprocity?
Generalized reciprocity refers to a type of exchange of goods and/or services where the giver and the recipient do not keep an exact ledger of value or stipulate the amount or duration of return.
Learn more about Generalized reciprocity :
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Answer:
55 cents
Explanation:
75 cents each for a taco
$1,50 for two tacos (75×2)
80 cents for a medium drink
Total cost =1.50+0.80=$2.30
Additional taco =2.30+0.75=$3.05
Value meal =$2. 50
The marginal cost for Jordon to purchase an additional taco instead of the value meal =
3.05-2.50=55 cents
