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oee [108]
2 years ago
14

During 2019, Jacob, a 19 year old full-time student, earned $4,500 during the year and was not eligible to participate in an emp

loyer-sponsored retirement plan. The general limit for deductible contributions to an IRA during 2019 is $6,000. How much of a tax-deductible contribution can Jacob make to an IRA?
Business
1 answer:
Rudiy272 years ago
7 0

Answer:

the tax-deductible contribution would be $4,500 made to an IRA

Explanation:

The computation of the tax deductible contribution make to an IRA is as follows:

It could be the lower amount of the earned income or the general limit

The earned income is $4,500

And, the general limit is $6,000

So the lesser amount is $4,500

Therefore the tax-deductible contribution would be $4,500 made to an IRA

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Elena-2011 [213]

Answer:

Stories  

Explanation:

Stories are the stuffs that the people hear about and like to discuss about. Stories are part of the organization culture and are a good means for an organization to affect customer choices because the issues of the customers are highlighted which helps organization to rectify its operations.

7 0
3 years ago
Oaktree Company purchased new equipment and made the following expenditures: Purchase price $ 45,000 Sales tax 2,200 Freight cha
olganol [36]

Answer and Explanation:

The journal entries are shown below:

1. Equipment($45,000 + $2,200 + $700 + $1,000) $48,900  

                 To Accounts payable  $47,200    ($45,000 + $2,200)

                 To Cash  $1,700

(Being the equipment is purchased on cash and credit)

Since the equipment is purchased so it would be debited and the other two accounts i.e account payable and the cash is credited

2.Prepaid insurance $900  

              To Cash  $900

(Being the payment is recorded)

Since there is a prepaid insurance and the same is increased in assets so it would be debited and the cash is paid so it would be credited

3 0
3 years ago
what are the intangible property that is protected by law which an enterpreneur should consider when starting up a business​
Amanda [17]

Answer:

Several types of intanigle property, also known as intangible assets, are protected by law. The three main types are: copyrights, patents, and trademarks.

A copyright is a protection of a creative work like a book, a song, or a film

A patent is a legal protection for a scientific or technological invetion.

And a trademark is a protection of a phrase, name, brand, or symbol that identifies a particular company.

8 0
3 years ago
How are resources allocated in a traditional economy?
mote1985 [20]
Traditional morals the system of production of material wealth
4 0
2 years ago
Read 2 more answers
Which of these is a characteristic of certificates of deposit (CDs)?
masha68 [24]

Answer:

They last for a certain period of time

Explanation:

Typically Certificates of Deposit are offered if the set amount is deposited and kept through the stated amount of time. (The length of the CD can be anywhere from 18 months to 3 years [most popular])  When the money is removed short of the stated time period a penalty is taken from the value of the CD.

5 0
2 years ago
Read 2 more answers
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