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
Liula [17]
3 years ago
15

This year Evan graduated from college and took a job as a deliveryman in the city. Evan was paid a salary of $75,300 and he rece

ived $700 in hourly pay for part-time work over the weekends. Evan summarized his expenses as follows: Cost of moving his possessions to the city (125 miles away) $ 1,200 Interest paid on accumulated student loans 2,900 Cost of purchasing a delivery uniform 1,500 Contribution to State University deliveryman program 1,350 Calculate Evan's AGI and taxable income if he files single. Assume that interest payments were initially required on Evan’s student loans this yea
Business
1 answer:
photoshop1234 [79]3 years ago
4 0

Answer:

Evan's AGI is $ 66,000 and his taxable income is $ 54,000

Explanation:

To calculate the AGI you have to perform the following:

Salary                                                                                                 $ 67,300

work hourly pay                                                                                     <u>$ 700</u>

Gross pay                                                                                             $68,000

Modified AGI                                                                                       $ 68,000

<h3>Student loan interest deduction (2500)-((68000-65000)×(2500/15000)) =                                                    $-2000</h3>

AGI                                                                                                          $66,000

Next, to calculate the taxable income you have the follwong substraction

AGI                            $ 66,000

Standard deduction   $12,000

Personal deduction   <u>       0        </u>

Taxable Income         $ 54,000

You might be interested in
A Japanese investor can earn a 1 percent annual interest rate in Japan or about 4.1 percent per year in the United States. If th
Whitepunk [10]

Answer: 97.99

Explanation:

The one-year forward rate that an investor would be indifferent between the U.S. and Japanese investments will be:

= Spot rate × (1 + Japanese rate / 1 + U.S rate)

= 101 × (1 + 1% / 1 + 4.1%)

= 101 × [(1 + 0.01) / (1 + 0.041)]

= 101 × (1.01/1.041)

= 101 × 0.9702209

= 97.99

4 0
3 years ago
L Corporation produces and sells 15,300 units of Product X each month. The selling price of Product X is $23 per unit, and varia
Arlecino [84]

Answer:

<em><u>It would generate a financial disadvantage for 62,800</u></em>

Explanation:

\left[\begin{array}{cccc}-&continued&discontinued&differential\\Sales&351,900&0&-351,900\\Variable&-260,100&0&260,100\\Contribution&91,800&0&-91,800\\Fixed&-103,000&-74,000&29,000\\total&-11,200&-74,000&-62,800\\\end{array}\right]

It would generate a financial disadvantage for 62,800

Because the product, while is having a loss, their contribution cover is enought to cover at least the avoidable fixed cost.

5 0
3 years ago
Establishing general ledger accounts opening balances will always be zero true or false
Inessa [10]

True, When establishing general ledger accounts opening balances will always be zero. A ledger is a full record of all transactions over the lifetime of a company. When the company is first starting out, there is a zero balance because transactions have not been put on the ledger yet. The longer the company is in business, the more transactions there will be on the ledger.

6 0
3 years ago
If a speaker repeats a point, it is likely _____.
MrMuchimi
If a speaker repeats a point it is likely boring.

don't really know

but a great master told me DO OR DO NOT THERE IS NO TRY.
4 0
3 years ago
Read 2 more answers
The new CEO of a large coffee corporation makes fighting sexual harassment a cornerstone of the company's culture after a series
kotegsom [21]

Answer:

B. Strong, because the CEO is setting expectations for ethical behavior and holding violators accountable

Explanation:

Ethics are a set of moral principles that defines acceptable and good behaviour of individuals in a society.

For ethical standards to be strong there is need to set expectations of ethical standards from society members and hold violators accountable.

This will discourage others that want to express unethical behaviour.

In the given scenario the CEO is setting a strong strong ethical system by drafting a new code of ethics with an expanded set of policies related to sexual harassment, creating a series of mandatory workshops for its workforce, and firing the managers involved in the incidents.

8 0
3 years ago
Other questions:
  • It is characteristic of – goods that they are not used up in the short run. A society can choose to – some quality of life now—f
    6·1 answer
  • What do the underlying values in your mission statement tell you?
    5·2 answers
  • Which statement below best captures the overall point and focus of the New York Times article, Document 3?
    10·1 answer
  • Determine the market potential for a backpack that has 200,000 prospective buyers who purchase an average of 2 backpack per year
    14·1 answer
  • Which statement best describes how you use email?
    9·1 answer
  • Hertz Car Rental has a customer loyalty program called Gold Plus Rewards that rewards members with one point per dollar spent on
    15·1 answer
  • Using the substitution theorem and the important equivalences (handout) show the following equivalence. Use only one substitutio
    11·1 answer
  • To better organize his landscaping business, Frank divides each job into several parts. One part is excavation and removal of ol
    5·1 answer
  • How is tourism going to relief poverty in South Africa?
    14·1 answer
  • What are the major causes of the contemporary plight of ldcs in international trade
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!