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spayn [35]
3 years ago
7

Suppose your friend earned wages of $93,260, received $1340 in interest from a savings account, and contributed $6300 to a tax-

deferred retirement plan. She is entitled to a personal exemption of $3500 and a standard deduction of $7800. The interest on her home mortgage was $4500, she contributed $2500 to charity, and she paid $1359 in state taxes.
Required:
Find the gross income, the adjusted gross income, and the taxable income. Base the taxable Income on the greater of a standard deduction or an itemized deduction.
Business
1 answer:
Kruka [31]3 years ago
5 0

Answer:

Gross Income:

= Earned wages + Interest from savings + Interest on home mortgage

= 93,260 + 1,340 + 4,500

= $99,100

Adjusted gross income:

= Gross income - Tax deferred plan  - State taxes

= 99,100 - 6,300 - 1,359

= $91,441

Taxable income

= Adjusted gross income - Personal exemption - Standard deduction - Charity contribution

= 91,441 - 3,500 - 7,800 - 2,500

= $77,641

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The departmental patriarch spent his last years at the university developing and promoting a Student Portfolio Project that requ
valentinak56 [21]

Answer:

D, starvation

Explanation:

Starvation can be defined as the deprivation of a certain thing till it leads to death. More often than not, starvation has majorly been synonymous with suffering as a result of lack of food.

In the above question, as soon as the patriach died, the Student portfolio project started to starve. It lacked continuos push and effort like the patriach did.

Cheers.

3 0
3 years ago
If you have two insurance policies on the same property, the ____ clause explains how the two insurance companies will share the
pantera1 [17]

Answer:

e. other insurance clause.

Explanation:

The other insurance clause is found in both property and liability insurance. This clause determines how loss is divided up when multiple policies cover the same loss.

5 0
3 years ago
Operating costs incurred by a manufacturing company become either (1) part of the cost of inventory to be expensed as cost of go
Lana71 [14]

Sales salaries are expensed at the time they are incurred.

In 2020, the average sales representative's salary was $73,500. In 2020, the average salaries for comparable jobs were $147,580 for a sales manager, $69,100 for an insurance salesman, $62,990 for a realtor, and $30,940 for a retail salesperson yes you can be a millionaire or billionaire as a seller.

Sales salaries careers are well paid and he ranks third on this list of high-paying jobs without a degree. A salesperson's revenue is directly tied to their sales performance. This means that sales positions have excellent earning potential. Working in sales can be incredibly stressful.

Learn more about Sales salaries at

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4 0
1 year ago
Assume that a radiology group practice has the following cost structure: Fixed costs = $500,000 Variable cost per procedure = $2
solniwko [45]

Answer:

(a) $91.67

(b) $687,500

(c) $625,000; $750,000

(d) $125; $91.67; $75

Explanation:

(a) Underlying cost structure:

= [($25 × 7,500) + $500,000] ÷ 7,500

= $91.67

(b) Expected total cost:

= $500,000 + ($25 × 7,500)

= $687,500

(c) Estimated total cost at 5,000:

= $500,000 + ($25 × 5,000)

= $625,000

Estimated total cost at 10,000:

= $500,000 + ($25 × 10,000)  

= $750,000

(d) Average cost per procedure at 5,000:

= [($25 × 5,000) + $500,000] ÷ 5,000

= $125

Average cost per procedure at 7,500:

= [($25 × 7,500) + $500,000] ÷ 7,500

= $91.67

Average cost per procedure at 10,000:

[($25 × 10,000) + $500,000] ÷ 10,000

= $75

7 0
3 years ago
The current equilibrium price and quantity in the market for walnuts are $5 per pound with 10,000 pounds supplied. Supermarkets
mel-nik [20]

Answer:

Option (a) is correct.

Explanation:

Given that,

Initial Quantity supplied = 10,000

New quantity supplied = 15,000

Initial price = $5

Price elasticity of demand = 1.8

Percentage change in quantity supplied:

= [(New quantity supplied - Initial Quantity supplied) ÷ Initial Quantity supplied] × 100

= [(15,000 - 10,000) ÷ 10,000] × 100

= (5,000 ÷ 10,000) × 100

= 50%

Let the new price be x,

Percentage change in price:

= [(New price - Initial price) ÷ Initial price] × 100

= [(x - $5) ÷ $5] × 100

= (x - 5) × 20

= 20x - 100

Therefore,

Price elasticity of demand = Percentage change in quantity supplied ÷ Percentage change in price

1.8 = 50 ÷ (20x - 100)

1.8 (20x - 100) = 50

36x - 180 = 50

36x = 230

x = 5

Hence, the new price per pound of walnuts is $5.

6 0
3 years ago
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