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Effectus [21]
2 years ago
6

Which of the following demonstrates responsibility?

Business
1 answer:
jok3333 [9.3K]2 years ago
4 0
A doctor who stays late to get her work done on time
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Juanita knits blankets as a hobby and sells them. In the current year, she earns $5,000 from her blanket sales and incurs expens
nirvana33 [79]

Answer:

C) report $5,000 of hobby income and deduct nothing from AGI since Juanita does not itemize deductions.

Explanation:

After the passage of the Tax Cuts and Jobs Act (HR 1, “TCJA”) from the period 2018 to 2025 the hobbies deduction is no longer valid.

Thus Juanita cannot declare any deduction. As hobbies aren't businesses. They aim for fun and entertainment not profit is not entitled to the tax deduction businesses are.

6 0
3 years ago
Novak Corporation amended its pension plan on January 1, 2020, and granted $152,280 of prior service costs to its employees. The
m_a_m_a [10]

Answer:

26762.74

Explanation:

Prior service cost amortization for 2020 can be calculated by first calculating the average time until the employee's retirement. After calculating the average time until retirement we will divide the service cost at that time

Workings

average time until retirment  = 1880/330

average time until retirment = 5.69 years

prior service cost amortization for 2020 = $152,280/5.69

prior service cost amortization for 2020 = $26762.74

3 0
3 years ago
Jay, a single taxpayer, purchased an annulty to help provide income during his retirement. He paid $36,000 for the annuity that
Rufina [12.5K]

Answer:

d. All of the last 12 payments he received are taxable.

Explanation:

In the case when the life expectancy is 180 months and collected 192 payments prior he died

So according to the question, all the 12 payments would be received are taxable

Here the payment that received for 180 months would not be involved in the gross income and the remaining 12 payment would be taxable

Therefore the option d is correct

4 0
3 years ago
Elevator pitch project
yanalaym [24]

Answer:

is this a question? maybe you could give more context.

7 0
3 years ago
At a price of $10, the marginal revenue of a monopolist is $6. if the marginal cost of production is $8, what should the monopol
Eduardwww [97]

At a price of $10, the marginal revenue of a monopolist is $6. if the marginal cost of production is $8, the monopolist should keep the price at  same level  in order to maximize profits.

For increasing the profits the monopolist should increase the marginal revenue to $8 so that the mr =mc.

Every firm follows the rule of profit maximization. In this rule marginal cost is equal to the marginal revenue and the MR intersects the MC curve the profit will be the maximum at this level.

The marginal cost of production and marginal revenue are the economic measures which are used to determine the amount of output and the price per unit of a product that will maximize profits.

To know more about marginal revenue here:

brainly.com/question/13383966

#SPJ4

6 0
2 years ago
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