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
zysi [14]
2 years ago
6

This year Mary received a $600 refund of state income taxes that she deducted on her tax return last year. Mary included a total

of $8,450 of state income taxes when she itemized deductions last year. What amount of the refund, if any, should Mary include in her gross income this year?
Business
1 answer:
Mariulka [41]2 years ago
5 0

Answer:

$600

Explanation:

If instead of itemizing, Mary had elected the standard deduction last year, then she wouldn't have to include any state income tax refund on her current gross income. But since she itemized her deductions and actually deducted these $600 from her gross income last year, she must include them in he current gross income.

You might be interested in
You are the PR officer of a major MNE in the chemical industry. The national press in your home country alleges that your compan
vichka [17]

Answer:

PR is answerable for the collaboration of the corporate with the civilization, government, media, and consumer. Once a particular sort of event happens, confirm PR conveys in media that there'll be a reaction group selection to completely check the most explanation for the event whether or not it's a synthetic error or mechanism responsibility within the event. There’ll be a unbiased group are going to be conjointly selected to evaluate true and outcome and consequently given the results of the particular explanation for the event.

7 0
3 years ago
Which action would a government most likely take to reduce its
Rudik [331]
A; sounds like the best option
4 0
3 years ago
Reg has just purchased a new car. The car had a list price of $22,499, and he was responsible for 7. 96% sales tax, a $2,138 veh
charle [14.2K]

The down payment that would be paid by reg is $2,800.

<h3 /><h3>What is a down payment?</h3>

A down payment is the first partial payment for the purchase of price expensive items or services, such as a car or a house. It is usually paid off in cash or equal at the time of finalizing the transaction. A loan of some kind is then asked to finance the remainder of the payment.

<u>Computation </u><u>of a down Payment:</u>

<u />

According to the question,

The total amount of car would be:

\text{List Price + Sales Tax + Registration Fee + Documentation Fee}\\\\\$22,499+\$1,791+\$2,138+\$262 = \$26,690.

r= 10.27%,

r=\dfrac{10.27}{12\times100}\\\\\\r= 0.00855833 ,

t= 12\times3\text{Years}=36 \text{Months}.

Monthly Payment = $773.89.

Let X be the amount of payment that is given in the starting.

\text{Monthly Payment} = \dfrac{\text{(List Price - x) r }}{1-(1+r)}}\\\\\\\$773.89 = \dfrac{(22,49-\text{x )0.0085533}}{1-(1+0.0085533)}\\\\\text{x}=$23889.84

The amount of down payment would be:

\text{Down Payment}=\text{Total Amount - Down Payment}\\\\\\\text{Down Payment}=\$26,690-\$23889.84\\\\\text{Down Payment}=\$2,801 \text{App.}

Hence, Option D is correct.

Learn more about the down payment, refer:

brainly.com/question/1114543

<u />

5 0
2 years ago
A master budget​ ________. A. is the initial plan of what the company intends to accomplish in the period and evolves from both
yaroslaw [1]

Answer:

The correct answer is option D) A Master Budget is is a substitute for the management functions of planning and coordination.

Explanation:

A master budget is not the initial budget a company makes, It is the final budget that incorporates all other specific budgets such as financial budget, operational budget, production budget, marketing budget and ore.

It serves a central  planning tool that a management team uses to direct the activities of a company, set targets and execution strategy.

It also provides a framework to judge performance for respective departments.

4 0
3 years ago
Read 2 more answers
In addition to compensation, customers expect _____. in other words, they expect fairness in terms of policies, rules and timeli
konstantin123 [22]
The answer to this question is "OUTCOME FAIRNESS". Such as in addition to compensation, the customers expect OUTCOME FAIRNESS. In other words, the customers expect fairness in terms of policies, rules, guidelines, and timeless of the complaint process. Therefore, the answer is the last item in the choices which is outcome fairness.
4 0
2 years ago
Other questions:
  • At the beginning of the year, Ilberg Company estimated the following costs: Overhead $416,000 Direct labor cost 520,000 Ilberg u
    15·1 answer
  • Which of the following stages of the new-product development process is the first filter, which serves to eliminate new-product
    14·1 answer
  • Roseler Company uses a normal job-order costing system. The company has two departments through which most jobs pass. Overhead i
    12·1 answer
  • To buy your first home, you take out a 15 year (fully amortizing) mortgage for $400,000 which requires equal yearly payments. Th
    8·1 answer
  • A key reason that actively managed funds have lower returns than index funds with a similar level of risk is that:
    11·1 answer
  • Carol Cagle has a repetitive manufacturing plant producing trailer hitches in​ Arlington, Texas. The plant has an average invent
    10·1 answer
  • Buckeye Incorporated has operating income of $ 434,000​, a sales margin of 7​%, and a capital turnover rate of 2. What amount wo
    7·1 answer
  • The market price of a bond is equal to the present value of the: Group of answer choices annuity payments plus the future value
    7·2 answers
  • A merchant sued a company for breach of contract, alleging that the products she purchased failed to conform to contract specifi
    8·1 answer
  • The potential exposure that any individual firm bears that the second party to any financial contract will be unable to fulfill
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!