Answer:
Since Marco's itemized deductions are lower than the standard deduction, he should not itemize. His taxable income = AGI - standard deduction = $18,000 - $12,400 = $5,600.
Marco's total income tax liability = $5,600 x 10% = $560
Taxpayers should not itemize when the deductions are lower than the standard deduction.
Answer:
the amortization of Other Comprehensive Loss for 2022 is $38,370
Explanation:
The computation of the amortization of Other Comprehensive Loss for 2022 is shown below;
= (Accumulated other comprehensive loss - 10% of Projected benefit obligation) ÷ given no of years
= ($503,700 - 10% of $1,200,000) ÷ given no of years
= ($503,700 - $120,000) ÷ 10 years
= $38,370
hence, the amortization of Other Comprehensive Loss for 2022 is $38,370
The same would be considered
Answer:
The beginning inventory was $2000.
Explanation:
First, we need to calculate the Cost of Goods sold. The cost of Goods sold is the difference between the Sales and the gross profit. Thus, the cost of goods sold is 16000 - 10000 = $6000
The value of the beginning inventory for the period can be calculated by using the Cost of Goods sold formula. The cost of goods sold is calculated as:
Cost of goods sold = Beginning inventory + Purchases - Closing Inventory
Plugging in the available figures in the formula,
6000 = Beginning Inventory + 8000 - 4000
6000 = Beginning inventory + 4000
6000 - 4000 = Beginning Inventory
Beginning Inventory = $2000
Based on the scenario above, Mrs. Lieberman is engaging to
tactile learner. Tactle learning or also known as kinesthetic learning is a
learning style in which engages more on carrying out physical activities rather
than using of having to discuss and listen to lectures.
Explanation:
service life refers to the time an asset will be used by a company and physical life refers to how long the asset will last.
