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Anika [276]
3 years ago
8

Marvin had the following transactions: Salary $50,000 Interest on City of Chicago bonds $250 Bank loan (proceed to buy personal

auto) $10,000 Alimony payment to ex-wife (Divorce was finalized in 2018) $12,000 Child support payment $6,000 Gift received from aunt $20,000 Marvin's AGI is: A. $32,000 B. $38,000 C. $44,000 D. $56,000 E. $64,000
Business
1 answer:
Alina [70]3 years ago
5 0

Answer:

B. $38,000

Explanation:

Calculation for Marvin's AGI

Salary $50,000

Less Alimony payment to ex-wife $12,000

AIG $38,000

($50,000-$12,000)

Therefore Marvin's AGI is $38,000

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Ben makes an appointment for a $50 haircut, buys a bike for $250, and agrees to work for Coding Associates for one year for $5,0
algol13

Answer:

c.

Explanation:

Based on the information provided within the question it can be said that in order for it to be enforceable, a writing is required for the employment agreement. This is because the employment requires initial work for a month before receiving payment for the services provided. Unlike the other two purchases, since money is being exchanged directly for a product or service at the exact moment.

8 0
3 years ago
You are climbing a stair case. It takes n steps to reach to the top. Each time you can either climb 1 or 2 steps. In how many di
lyudmila [28]

Answer:

(n^2 + n)/2 ways

Explanation:

Each time you can climb 1 or 2 steps to the top (n steps)

Number of ways climbing 1 step to the top = n combination 1 = n!/(n-1)1! = n(n-1)!/(n-1)! = n

Number of ways climbing 2 steps to the top = n combination 2 = n!/(n-2)!2! = n(n-1)(n-2)!/2(n-2)! = (n^2 - n)/2

Total number of ways = n + (n^2 - n)/2 = (2n + n^2 - n)/2 = (n^2 + n)/2 ways

7 0
3 years ago
An insurance company’s projected loss ratio is 77.5 percent, and its expense ratio is 23.9 percent. It estimates that dividends
Elanso [62]

Answer:

6.4%

Explanation:

For computing the minimum yield on investment, first we have to find out the combined ratio which is shown below:

= Projected loss percentage + expense ratio + dividend percentage

= 77.5% + 23.9% + 5%

= 106.4%

So, the minimum yield on investment required is

= 106.4% - 100%

= 6.4%

The 100% is the percentage value

We simply applied the above formula

6 0
4 years ago
"Sheridan Processes is involved with innovative approaches to finding energy reserves. Sheridan recently built a facility to ext
gladu [14]

Answer:

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Explanation:

According to the scenario, computation of the given data are as follow:-

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So, we will make journal entry for asset retirement obligation by taking present value of assets.

Journal entry to record the asset retirement obligation are as follows :-

Natural gas facility A/c  Dr.   $6,300,000

To Asset retirement obligation A/c  $6,300,000

( Being asset retirement obligation is recorded)

4 0
3 years ago
A mandate is an informal order that is given by a higher authority to suggest change. Please select the best answer from the cho
larisa86 [58]
The answer is false.
 A mandate is a formal order that is given by a higher authority to suggest change. As described in oxford's dictionary, mandate is an official order or commission to do something.
6 0
3 years ago
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