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3 years ago

7)In 2020, taxpayers with the following filing statuses may be eligible to claim the earned income credit except :

Business

1 answer:

Nataly [62]3 years ago

4 0

Answer:hgjugvycuuhubhbhhb

Explanation:gvrdedbuhgfryyikjngvfvtfvrt

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Brief exercise 1-9 at the beginning of the year, morales company had total assets of $816,000 and total liabilities of $526,000.

kramer

<u>Calculation of amount of stockholders' equity at the end of the year:</u>

At the beginning of the year, Morales Company had total assets of $816,000 and total assets increased $178,000 during the year, hence Total Assets at the end of the year shall be 816000+178000 = $994,000

At the beginning of the year, Morales Company had total liabilities of $526,000 and total liabilities decreased $82,000 during the year. Hence Total Liabilities at the end of the year shall be 526000-82000 = $444,000

Now we can calculate amount of stockholders' equity at the end of the year as follows:

Equity = Assets – Liabilities

= 994,000-444,000

= $550,000

Hence, the amount of stockholders' equity at the end of the year shall be <u>$550,000</u>

6 0

3 years ago

The ledger of Mai Company includes the following accounts with normal balances: Common Stock $9,000;

Amiraneli [1.4K]

Answer: Please see explanation for answer

Explanation:

Journal to close Revenue account

Date Accounts and explanation Debit Credit

31 December Service Revenue $13,000

Income Summary $13,000

Journal to close expense account

Date Accounts and explanation Debit Credit

31 December Income Summary $10,000

Wages Expenses $8,400

Rent expenses $1,600

Journal to close Income Summary account

Date Accounts and explanation Debit Credit

31 December Income Summary $3,000

Retained earnings $3,000

Calculation

Retained Earnings =Services Revenue- (wages expense + rent expense)

$13,000 -$10,000-= $3,000

Journal to close Dividend account

Date Accounts and explanation Debit Credit

31 December Retained earnings $800

Dividends $800

7 0

3 years ago

The Comil Corporation recently purchased a new machine for its factory operations at a cost of $328,325. The investment is expec

Solnce55 [7]

Answer: 15%

Explanation:

IRR is the discount rate that makes the NPV equal zero. Required rates of return that are less than the IRR will therefore result in a positive NPV and those that are higher will result in a negative NPV.

Use Excel to find the IRR.

= IRR(-328325,115000,115000,115000,115000)

= 15%

As the required rate of 13% is less than the IRR of 15%, the new machine will have a positive NPV.

6 0

3 years ago

Which of the following questions does the organization's mission statement answer?

vichka [17]

Answer:

D. What do we want to become?

Explanation:

A mission statement refers to a statement in which the existence reason could come why it is established, its entire objectives, its products and services that are provided to the customers, and at last the location where they deal

So as per the given options the option D is correct as it represent the mission statements and the hence the same is to be considered

Therefore all the other options are wrong or incorrect

6 0

4 years ago

How do governments promote competition in the marketplace?

Scilla [17]

By passing antitrust laws

6 0

4 years ago