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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.

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Sales for the year = $324,882, Net Income for the year = $36,610, Income from equity investments = $8,603, and average Equity du
Andre45 [30]

Answer:

A. 29.6%

Explanation:

Return on Equity is the times of profit a owner can earn on the equity investment in the business. Higher ratio shows the business is more profitable.

As per given data

Net Income =  $36,610

Average Equity = $123650

Return on Equity ( ROE ) = Net Income / Equity Investment

Return on Equity ( ROE ) = $36,610 / $123650

Return on Equity ( ROE ) = 0.296

Return on Equity ( ROE ) = 29.6%

4 0
3 years ago
Which is the best measurement to use to determine who might have the absolute advantage?
Makovka662 [10]

Answer:

<u>low opportunity cost</u>

Explanation:

<u>Opportunity cost</u> is described as a process in which an individual sacrifices something when they tend to choose one thing or option over another option or thing.

<u>Low opportunity cost: </u>The term "low opportunity cost" is determined as the possibility of an individual's chosen investment returns to be lower than the forgone investment's returns.

4 0
3 years ago
What can students do with their recorded data in Science Journal?
alina1380 [7]

Answer:

B. Review recorded graphs and individual data points

C. Make their data audible

D. Share and export experiments and sensor recordings

Explanation:

The Science Journal application refers to the scientific journal at the digital platform that helps users to record projects using pictures, notes, and built-in sensors from the phone of the user. While setting up a new experiment it provides the opportunity to document one's thoughts and findings as he or she begins to ask queries and to come up with their own investigations. Its user-friendly features use sensors and recorders of telephones in an efficient way.

3 0
2 years ago
Oceanview's inventory consists primarily of boats and involves a comparatively small lumber of inventory items. How would invent
lakkis [162]

The question is about Audit procedures of inventory that differ if

The Inventory is in small number

- Complete inventory can be counted.

- The inventory is different type of boats each boats market price can be checked separately.

- Floor to record and record to floor can both be tested appropriately.

The Inventory is in large number

- Sample based count.

- The inventory is different type of boats each boats market price can not be checked separately, instead again a sample of inventory will be checked.

- Floor to record and record to floor can be tested on a sample basis.

Learn more at brainly.com/question/25759232

6 0
2 years ago
“formal evaluation could include testing the predictive capabilities of the models on observed data to see how effective and eff
Neporo4naja [7]
This is known as in-sample forecast. It estimated the model using all available data and then comparing it to the model's fixed values to the actual realizations. But, this method is known to attract an overly positive picture of the model's forecasting ability since common fitting algorithms tend to take pains to avoid big prediction errors and are also inclined to overfitting (mistaking noise for signal in the data).
7 0
3 years ago
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