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Butoxors [25]
3 years ago
12

During 2021, Phil Rupp presents the following transactions:_______.

Business
1 answer:
astraxan [27]3 years ago
8 0

Answer:

Assuming Phil Rupp files as single with one valid dependent in 2017, his gross income is __$56,864__, while his adjusted gross income is __$44,227_.

Explanation:

a) Data and Calculations:

Bank loan proceeds received (to purchase a new car) of $15,000

Wages of $56,821

Contribution to a Roth IRA of $5,000

Pass-through loss from a partnership of $7,637

Interest income earned of $43

Gross income:

Wages of $56,821

Interest income earned of $43

Total gross income = $56,864

Adjusted gross income:

Gross income of $56,864

less:

Contribution to a Roth IRA of $5,000

Pass-through loss from a partnership of $7,637 (less than 20% of $56,864)

Adjusted gross income = $44,227 ($56,864 - $5,000 - $7,637)

b) With Pass-through each partner's share of business income, gain, deduction, or loss is passed through to the owner and reported on the owner's personal federal income tax return for the tax year.  According to the Tax Cuts and Jobs Act of 2017, individual business owners are entitled to up to 20% of their income as pass-through losses.

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Black_prince [1.1K]
<h2>John demonstrates the quality of "Leadership". </h2>

Explanation:

Leadership is one of soft skill which is really essential for each and everyone to move successfully and to grow in the career.

A successful leader will,

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• Give a clear picture of the goal

• Pat them on need

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• create leaders

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So here John tries to clear his team on goals which shows a positive leadership quality. He could do this only because he possess all the listed qualities just above this sentence.

3 0
3 years ago
PlastiPharm has several clients whose contracts require the company to store three to six months of raw materials for them just
ANTONII [103]

The reason why PlastiPharm should care about excess inventory is:

  • It can lead to the degradation of the raw materials

<h3>What is Excess Inventory?</h3>

This refers to the situation where there is a product that is yet to be sold due to the excess estimated demand for the product which leads to the overstock of the product.

With this in mind, we can see that PlastiPharm should be worried about the excess inventory because it can lead to the degradation of the raw materials as they are overstocked.


Read more about excess inventory here:
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7 0
2 years ago
There is a production possibilities frontier (PPF) that shows the combinations of goods X and Y that can be produced in the econ
erastova [34]

Answer:

B. shifts rightward, and the point at which the PPF touches the good-X axis has to be something more than 40 units of good X and the point at which the PPF touches the good-Y axis has to be something more than 60 units

Explanation:

PPF is the graphical representation of two goods combinations which an economy can produce given resources & technology.

It is downward sloping because of two goods inverse relation given same resources & technology.

The points at which PPF touches both axis represents maximum amount of that axis good which can be produced by given resources & technology , Points on PPF reflect full efficient utilisation of resources. Points inside PPF reflect underutilisation of resources. Points outside PPF reflect unattainable combinations outside economy's productive capacity, given resources & technology unless either of them grow.

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3 years ago
The organization must first understand what skills are needed to effectively respond to an incident. If necessary, management mu
nevsk [136]

Answer:

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Explanation:

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7 0
3 years ago
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