1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Furkat [3]
3 years ago
13

Required information [The following information applies to the questions displayed below.] Desmond is 25 years old and he partic

ipates in his employer's 401(k) plan. During the year, he contributed $3,000 to his 401(k) account. What is Desmond's saver's credit in each of the following alternative scenarios? (Use Exhibit 13-8) (Leave no answer blank. Enter zero if applicable.). a. Desmond is not married and has no dependents. His AGI after deducting his 401(k) contribution is $34,000. Saver's credit
Business
2 answers:
IceJOKER [234]3 years ago
7 0

Answer:

Saver Credit of Desmond is $0.  

Explanation:

It is to encourage the taxpayers to contribute in the retirement plans. It is applicable for all qualified retirement plans. An additional credit up to $ 2000 is available from any other deduction from the retirement account. Saver credit percentage is determined by taxpayers filling status and AGI.

In the present case Desmond 25 years old, contributed $3000 in employer’s 401(k) plan. He wants to know his saver’s credit limit in various situations.

A) Desmond is single without dependents and his AGI after contributing to 401(k) plan is $34000. Saver’s credit of D is calculated as:

Desmond will come under “all other filers AGI” because he is single without dependents. As his AGI is above $ 30750 there is no credit available for him.

Hence, maximum saver credit of Desmond is $0.  

MrRa [10]3 years ago
6 0

Answer:

Saver's credit = $0

Explanation:

He is not entitled to any saver's credit, as he is not married and his AGI is greater than $32,000. Therefore the Saver's credit is equal to zero. Is also important to consider that Desmond is a head of a household and his AIG is between 31,126 and 48,000.

You might be interested in
Suppose investors can earn a return of 1.9% per 6 months on a Treasury note with 6 months remaining until maturity. The face val
DanielleElmas [232]

Answer:

$9,813.54

Explanation:

The face value of the T-bill is $10,000

Return of 1.9%

P= $10,000/1.019

= $9,813.54

Therefore the price you would expect a 6-month maturity Treasury bill to sell for is

$9,813.54 because The face value of the T-bill is $10,000 and the investors can earn a return of 1.9% per 6 months on a Treasury note with 6 months remaining until maturity leading to increase in the return of 1.9% because 1.9% will give us 0.019 plus increase of 1 which will give us 1.019.

8 0
3 years ago
Calculate the value of a bond that matures in 16 years and has a $ 1 comma 000 par value. The annual coupon interest rate is 13
spayn [35]

Answer:

$1,069.74

Explanation:

We use the present value formula which is shown in the attachment below:

Data provided in the question

Future value = $1,000

Rate of interest = 12%

NPER = 16 years

PMT = $1,000 × 13% = $130

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the value of the bond is $1,069.74

7 0
3 years ago
A​ firm's database showed that the average value of all inventory items for the year was​ $7,650. the cost of goods sold was rep
Rainbow [258]

5 weeks  
There are 52 weeks per year and since the company closes for 2 weeks per year, that means that the company does business for 50 weeks each year. During that year, the company sold goods that cost $76,500. And the average inventory was $7,650 which is $7,650 / $76,500 = 0.10 = 10% of the goods sold for the entire year. So the average inventory could allow the company to work for 10% of the year. And 10% of 50 is 5. Therefore the company had 5 weeks of supply on average in inventory.
6 0
3 years ago
Safeway, publix, and other supermarket chains offers all types of foodstuffs as well as a variety of nontraditional goods and se
Vikki [24]
Diversifying.  It is so that they can tap into other markets.
8 0
3 years ago
Margene is the product manager at Fashions Ltd., a company that designs and manufactures clothes and fashion accessories. Notici
AURORKA [14]

As the Margene is the product manager at fashions ltd., a company that designs and manufactures clothes and fashion accessories. The managerial task performed by Margene is planning.

<h3>What are resources?</h3>

Resources refer to the materials available in the environment that are technologically accessible and help in the satisfaction of needs and wants.

Margene is the product manager at Fashions Ltd., a company that designs and manufactures clothes and fashion accessories. In deciding the allocation of resources for attaining her goals, the managerial task performed by Margene is planning.

Learn more about resources here:

brainly.com/question/15308001

#SPJ1

6 0
2 years ago
Other questions:
  • Which of the following will probably happen to a product when demand is low? A. The price will go up. B. The price will go down.
    8·1 answer
  • The College Bookstore sells a unique calculator to college students. The demand for this calculator has a normal distribution wi
    7·1 answer
  • The total of tools, equipment, machinery, and buildings used to produce goods and services is called supply. True or False
    8·1 answer
  • What kind of drug test does homedepot do in the location of Johnston, rhode island
    5·2 answers
  • Reynolds Manufacturers Inc. has estimated total factory overhead costs of $90,900 and expected direct labor hours of 10,100 for
    5·1 answer
  • If actual sales totaled $450,000 for the current year (30,000 units at $15 each) and planned sales were $540,000 (45,000 units a
    15·1 answer
  • You submit an offer to the seller. They agree with price, inclusions, everything except the closing date. The proper way to hand
    6·1 answer
  • Read one article in newspaper, then, explain the specific ideas contained in various
    8·1 answer
  • Assume that your total cost per unit to make a snack is $4.50. Your company is using a cost-plus pricing strategy and would like
    7·1 answer
  • Susmel Inc. is considering a project that has the following cash flow data. What is the project's payback? Year 0 1 2 3 Cash flo
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!