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Gnoma [55]
3 years ago
6

hich of the following situations will disqualify a single individual from claiming the Premium Tax Credit? A. Marriage to an ind

ividual enrolled in a qualified health plan B. Increase in household income to 390% of the Federal poverty line C. Inheritance of $1,100,000 non-income producing vacation home D. Becoming eligible as a dependent on his or her parent's joint tax return
Business
1 answer:
BlackZzzverrR [31]3 years ago
3 0

Answer:

D. Becoming eligible as a dependent on his or her parent's joint tax return

Explanation:

In the case when the individual is disqualify from claiming the premium tax credit at the time when it become eligible as a dependent based on joint tax return of his or her parent

So this is the case when a single individual disqualify from the tax credit

Therefore as per the given situtation, the option d is correct

You might be interested in
Getty Company expects sales for the first three months of next year to be $200,000, $235,000, and $298,000, respectively. Getty
GarryVolchara [31]

Answer:

Getty’s cash receipts for the months of February: $225,900

Getty’s cash receipts for the months of March: $281,620

Explanation:

Cash sales:

In January = 35% x $200,000 = $70,000

In February = 35% x $235,000 = $82,250

In March = 35% x $298,000 = $104,300

Credit Sales:

In January = 65% x $200,000 = $130,000

In February = 65% x $235,000 = $152,750

In March = 65% x $298,000 = $193,700

Getty’s cash receipts for the months of February = Cash sales of February + 40% x Credit sales of January + 60% x Credit sales of February = $82,250 + 40% x $130,000 + 60% x $152,750 = $225,900

Getty’s cash receipts for the months of March = Cash sales of March + 40% x Credit sales of February + 60% x Credit sales of March = $104,300 + 40% x $152,750 + 60% x $193,700 = $281,620

8 0
3 years ago
As an important control for the occurrence assertion related to sales, the computer starts with the population of daily sales in
7nadin3 [17]

Answer:

A. bill of lading

Explanation:

The bill of lading is the document that supports the sales invoice as the bil of lading contains the details regarding the shipment and the confirmation with respect to the delivery

So as per the given situation since it is mentioned in the question that for shipping documents the sales invoice should be supported by the bill of lading

hence, the same is to be considered

8 0
3 years ago
Simkin Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below:
Anettt [7]

Answer:

0.34

Explanation:

Calculation to determine what The manufacturing cycle efficiency (MCE) was closest to:

First step is to calculate the Throughput time using this formula

Throughput time = Process time + inspection time + move time + queue time

Let plug in the formula

Throughput time=6.1+1.5+4.1+6.2

Throughput time=17.9

Now let calculate the MEC using this formula

MEC = process time / throughput time

Let plug in the formula

MEC=6.1/17.9

MEC =0.34

Therefore The manufacturing cycle efficiency (MCE) was closest to:0.34

8 0
3 years ago
Booker Corporation had the following comparative current assets and current liabilities: Dec. 31, 2019 Dec. 31, 2018 Current ass
Y_Kistochka [10]

Answer:

1. 1.5 Times

2.$100,000

3.0.775 Times

4.$75,000

5.$100,000

Explanation:

Liquidity ratios can be found by just simply putting the given values in their appropriate formulas. All you have to memorize is the simple formulas

1.Current Ratio  

CURRENT RATIO = CURRENT ASSETS/CURRENT LIABILITIES

CURRENT RATIO = $300,000/$200,000

CURRENT RATIO = 1.5 Times

2. Working Capital

WORKING CAPITAL= CURRENT ASSETS- CURRENT LIABILITIES

WORKING CAPITAL= $300,000 - $200,000

WORKING CAPITAL= $100,000

3. Acid ratio

ACID RATIO = CURRENT ASSETS - INVENTORY - PREPAID EXPENSES/CURRENT LIABILITIES

ACID RATIO = ($300,000 - $110,000 - $35,000)/$200,000

ACID RATIO = 0.775 Times

4. Receivable turnover

RECEIVABLE TURNOVER = CREDIT SALES/AVERAGE RECEIVABLE

RECEIVABLE TURNOVER = $750,000/$75,000

RECEIVABLE TURNOVER = 10 Times

<u>Working</u>

AVERAGE RECEIVABLE = (Opening receivables+Closing receivables)/2

AVERAGE RECEIVABLE = ($55,000 + $95,000) / 2 = $75,000

5. Inventory Turnover

INVENTORY TURNOVER = COST OF GOODS SOLD / AVERAGE INVENTORY

INVENTORY TURNOVER = $400,000 / $100,000

INVENTORY TURNOVER = 4 Times

<u>Working</u>

AVERAGE INVENTORY = (Opening inventories+Closing inventories)/2

AVERAGE INVENTORY = (110,000 + 90,000)/2

AVERAGE INVENTORY = $100,000

3 0
3 years ago
Im thinking of a number between 1-100 who ever gets closer gets brainiest
Digiron [165]

Answer:

77

Explanation:

4 0
3 years ago
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