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3 years ago

15

John paid $10,000 in mortgage interest last year. He and his wife earned $150,000 from their jobs last year. Based on their circ

umstances, they can deduct the mortgage interest from their taxable income, meaning they only have to
pay federal income tax on what amount?

1 answer:

____ [38]3 years ago

4 0

Answer:

$140,000

Explanation:

$150,000-$10,000= $140,000

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Total spending in an economy is the sum of: personal consumption plus gross private investment plus government spending plus net

vichka [17]

Answer:

The correct answer is personal consumption plus gross private investment plus government spending plus net exports.

Explanation:

Total spending in an economy is the sum of personal consumption plus gross private investment plus government spending plus net exports.

Personal consumption expenditure is spending by consumers on goods and services. Gross private investment is the expenditure by the businesses.

Government spending is the expenses incurred by the government. Net exports are the amount spend on the purchase of goods and services from abroad.

All these together make total spending in an economy.

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3 years ago

Oriole Company uses the units-of-activity method in computing depreciation. A new plant asset is purchased for $52000 that will

AnnZ [28]

Answer:

$ 0.61 per unit

Explanation:

The unit-of-activity method is one of the asset depreciation methods. Under this method, the depreciable cost of the asset is spread over the units produced. The formula is a more accurate measure of wear and tear.

In this case:

Depreciable cost=(purchase price -salvage value)

=$52000.00 -$3200.00

=$48,800.00

Depreciation per unit= Depricable cost / expected production

=$48,800/80000

=$ 0.61per unit

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3 years ago

If wages went down for Chinese workers, what would happen to the cost of shipping goods by boat?

kykrilka [37]

Explanation:

So what would happen is that means America and other country's or states would not get the items they need. Mostly everything that comes from china goes to America. Even though Corona virus has stopped us from shipping people or items, we can't do it. The cost would definitely go down and workers for the Chinese government would not want to work since there doing a hard job but so little money.

PLEASE DO NOT COPY AND PASTE ^-^

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3 years ago

If you wish to determine whether there is evidence that the proportion of items of interest is higher in group 1 than in group

kobusy [5.1K]

Based on the above scenario, the z test can be appropriate to be used. A z-test is a factual test used to decide if two populace implies are distinctive when the differences are known and the specimen measure is substantial. The test measurement is expected to have an ordinary dissemination, and irritation parameters, for example, standard deviation ought to be known for an exact z-test to be performed.

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4 years ago

Selected T-accounts of Moore Company are given below for the just completed year: Raw Materials Bal. 1/1 29,000 Credits ? Debits

N76 [4]

Answer and Explanation:

The computation is shown below:

1) Cost of raw material used is

= $29,000 + $148,000 - $39,000

= $138,000

2) Indirect material is

= $138,000 - $104,000

= $34,000

3) Indirect labour is

= $208,000 - $192,000

= $16,000

4) Cost of goods manufactured is $512,000

5) Unadjusted cost of goods sold is

= $54,000 + $512,000 - $81,000

= $485,000

6) The Overhead rate is

= $220,800 ÷ $192,000

= 115% of labor cost

7) Actual overhead is $196,800

Applied overhead is $220,800

So,

Over applied overhead is

= $220,800 - $196,800

= $24,000

8) Ending balance in work in process is

= $34,000 + $104,000 + $192,000 + $220,800 - $512,000

= $38,800

Direct labor is $11,500

So,

Overhead is

= $11,500 × 115%

= $13,225

So,

Direct material is

= $38,800 - $11,500 - $13,225

= $14,075

6 0

4 years ago