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kow [346]
3 years ago
6

In 2019, Colin and Laura sold their house for $990,000. They paid $40,000 in expenses so their proceeds are $950,000. They bough

t the house in 2013 and paid $300,000 for the home and spent $30,000 to add on a garage so their basis would be $330,000. They subtract $330,000 from $950,000 to find their gain equals $620,000. When filing their joint income tax return, if all of other conditions are met, what is the maximum amount Colin and Laura could exclude from the sale of their home
Business
1 answer:
Harman [31]3 years ago
5 0

Answer:

the total maximum amount that excluded is $500,000

Explanation:

The computation of the maximum amount that could be excluded is as follows:

In the case of the gain on sale of personal residence of taxpayer the amount of $250,000 would be considered as an exclusion other than married filing

But in the case of married filling the above amount should be doubled

Therefore the total maximum amount that excluded is $500,000

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Of the world's population of 7.5 billion people, _________ are scraping by on incomes that average less than $2 per day.
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1.1 billion? According to unicef 3 billion earn less than $2.50 so this seems like the appropriate answer.
3 0
3 years ago
Many firms advertise. What effect does advertising have on firm​ profits? One possible effect of advertising is to:_________
spayn [35]

Answer:

Option b: Increase profits by shifting the demand curve for the product to the right

Explanation:

Marketing is simply all the activities necessary for a firm to sell a product to a consumer. Firm engages in marketing to make their brand or product known.

Advertising has a whole lot of effect in the society at large. There are economic effect, social effect and others.

effects of advertising on the prices of goods and service includes exerting an upward pressure on prices that is the Cost of advertising is passed along to consumers and Advertising makes us less price sensitive) and exerting a downward pressure on prices may lead to economies of scale and Lowers the cost of sales.

Social Effects of Advertising is that it is manipulative and promotes unnecessary consumption,Advertising makes us more intelligent consumers and promotes worthwhile social causes.

6 0
2 years ago
If you deposited​ $100 now ​(nequals​0)and​ $200 two years from now ​(nequals​2)in a savings account that pays​ 10% annual​ inte
Natali5045456 [20]

Answer:

The correct answer is: "You would have $589 the end of year 10".

Explanation:

The logics of the statement remains in the amount of money remained after 10 years of savings with a 10% annual interest. This means that, after you deposit $100 now (nº 0), on the first current year you would have ended up with $110, although in the second year (nº 2) you would have made a deposit of $200, which means you would have made total earnings of $310, plus the annual interest of $31. After the second year, all subsequent ones wound count on with an annual interest of $31, which means that at end of year 10 you would have reached the amount of $589.

(ps: mark as brainliest, please?!)

7 0
3 years ago
Suppose a self-regulating economy is in a recessionary gap at the time the Fed enacts expansionary monetary policy. Furthermore,
anzhelika [568]

The combination of expansionary monetary policy and a self-regulating economy will cause real GDP will rise to the level above natural real GDP and the recessionary gap would hence turn into an inflationary gap situation.

<h3>What do you mean by monetary policy?</h3>

Monetary Policy refers to the control of the quantity of money available in an economy through which new money is supplied.

The self-regulating economy experiences a recessionary gap. The real GDP is less than the level of natural real GDP. The gap is been corrected by the rightward shift in the short-run aggregate supply curve.

Due to interplay, real GDP will rise to the level above natural real GDP and the recessionary gap turn into an inflationary gap.

Learn more about Monetary policy here:

brainly.com/question/3817564

#SPJ1

8 0
2 years ago
LO 8.5Identify several causes of a favorable material quantity variance.
yan [13]

Answer:

Possible causes of material quantity variance:

1. The use of sub-standard material

2. The use of unskilled labour

3.  Wastage of material

Explanation:

Material quantity variance is the difference between standard quantity and actual quantity used multiplied by standard price. The use of sub-standard material reduces the quality of output thereby resulting to unfavorable material quantity variance.  The use of unskilled labour also leads to unfavorable material quantity variance. Wastage of material                                                  due to low quality of inputs also results to unfavorable material quantity variance.                                                                        

3 0
3 years ago
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