Answer:
A. Tuition $4,000
B. $8,665
Explanation:
A..Based on the information given the expenses that might qualify as deductions for AGI(ADJUSTED GROSS INCOME) is TUITION
The amount of the expenses that might
qualify as deductions for AGI is the tuition amount of $4,000 reason been that we were told that he spent the amount of $6,600 on tuition and secondly the AGI(ADJUSTED GROSS INCOME limitations are not higher than the unmarried return of the amount of $65,000
b. Calculation to determine How much of these expenses might qualify as deductions from AGI
Tuition$2,600
($6,600 − $4,000)
Add Books and course materials $1,500
Add Lodging $1,700
Add Meals $1,100
($2,200 × 50% cutback adjustment)
Add Laundry and dry cleaning $200
Add Campus parking $300
Add Auto mileage $1,265
(2,200 miles × $.575)
Total deduction from AGI $8,665
Therefore The Amount of the expenses that might qualify as deductions from AGI is $8,665
Answer:
Net pay is $383,750
Explanation:
Hermandez builders net pay can be computed by deducting the following from the gross payroll amount:
Federal income taxes
social security
medicare
charitable contributions
union dues
The net pay is computed thus:
Gross payroll pay $500,000
Federal income taxes $63,000
Social security $31,000
medicare $7,250
charitable contributions(1%*$500000) $5,000
union dues (2%*$500000) $10,000
($116,250)
Net pay $383,750
Answer:
The answer is significantly.
Explanation:
Oligopoly is a market situation in which there are few sellers, selling similar goods and services and many buyers. The barriers to entry in this market in high. Example of a oligopoly market is OPEC.
The competition amongst the few sellers is high because they are selling the same thing and a change in price by one firm will significantly affect other firms in the industry. For example, if a firm reduces the price of its goods, this creates a price war and other firms to start reducing their price to match the lower price. And if another firm increases its price, consumers will switch to competitors
Answer:
D. $285,000
Explanation:
When a company is acquired by another company, the parent company (the new owner) must report the assets at fair market value - amortization.
FV = $300,000
amortizable value = $100,000
depreciation for 3 years (2017, 2018 and 2019) = ($100,000 / 20) x 3 = 415,000
reported value = $300,000 - $15,000 = $285,000
