A company’s book value increases when a company retains its net income. a) true b) false

barbara is a single taxpayer who had a 2022 adjusted gross income of $25,000 and who contributed $4,000 to her traditional ira.

saul85 [17]

The maximum retirement contribution savings credit for Barbara is $200.

Contributions made by individual taxpayers to classic individual retirement accounts (IRAs) are eligible for a tax credit of up to 10%, 20%, or 50% of the taxpayer's total contribution, with a maximum allowable contribution of $2,000.

The minimum and maximum allowed incomes are revised every year.

For persons with an adjusted gross income between $21,501 and $33,000 in 2021, the saver's credit rate is 10%.

In the example of Barbara, the contribution to her regular IRA is equal to $4,000.

The credit that Saver receives is equal to ten per cent of her donation, up to a maximum of two thousand dollars.

The maximum credit for savings contributions to a retirement plan is 10% of $2,000, or $200.

To know more about individual retirement accounts (IRAs)

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5 0

2 years ago

What goals does the international monetary fund serve today?

makvit [3.9K]

The international monetary fund is an organization that is made up of 190 countries whose goals are to build international trade, promote economic development, and reduce poverty in the world.

The International Monetary Fund is a committee of many nations that are committed to developing the economy of their nations.

The goal is to reduce poverty and encourage international trade among nations.

They assist nations whose economies are struggling with loans that can help them wade through their difficult times.

Summarily, the IMF aims to reduce poverty in the world.

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8 0

3 years ago

Denver company uses a job costing system. The work in process inventory on december 31 consisted of job no. 173 with a balance o

Lady bird [3.3K]

Calculation of amount of direct materials charged to job no. 173:

It is given that the work in process inventory on December 31 consisted of job no. 173 with a balance of $66,200.

Job no. 173 has been charged with manufacturing overhead costs of $20,000. Denver allocates manufacturing overhead costs at a rate of 50% of direct labor cost. It means the direct labor cost would be 20,000/50% = $40,000

Now we can calculate the amount of direct materials charged to job no. 173 as follows:

Direct material Cost = Total Cost allocated to Job – Direct Labor Cost – Manufacturing Overhead Cost

= 66200-40000-20000

= 6200

Hence, the amount of direct materials charged to job no. 173 is $6,200

5 0

4 years ago

Use the adjusted trial balance for stockton company below to answer the questions that follow. stockton company adjusted trial b

Katyanochek1 [597]

Answer: The Owner’s Equity ending balance is $15,730.

Explanation: In order to calculate the ending owner’s equity you need to identify the capital, revenue and expense accounts.

The Owner’s Equity is $12,940 and withdrawals are $790.

Revenue (Fees Earned) is $9,250.

Expenses equal 2,500 + 1,960 + 775 + 250 + 185 = $5,670.

Now that we have identified the each of the three categories, we will use the owner’s equity equation.

Owner’s Equity = Capital - Drawing + Revenues - Expenses

Owner’s Equity = $12,940 - 790 + 9,250 - 5,670

Owner’s Equity = $15,730

8 0

3 years ago

To an experimenter in frame s′, the meter stick's frame, did you make your two measurements simultaneously? if not, which end di

Likurg_2 [28]

No, it is not possible to measure simultaneously.we have to measure the left end first.

The meter scale is the apparatus for dimension of the period of any item. instance: The duration of the square is 5 meters. right here, 5 is the magnitude of the period and meter is the unit of length. 1 meter of the meter scale is split into a hundred centimeters. Meter scale is used to degree length.

The metre scale alongside the object in order that the 'zero' mark on the metre scale coincides with one give up of the item and studying at the other cease of the size suggests the duration of the item.

Measurement is the procedure of comparison of the given physical amount with the regarded fashionable quantity of the same nature. as an example, dimension of duration the usage of Vernier Callipers and measurement of diameter of wire using screw gauge.

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3 0

2 years ago