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3 years ago

Jasmine (29) is filing as a single taxpayer. In 2019, she received income from the following sources:

Business

1 answer:

lianna [129]3 years ago

3 0

Answer:

$38,720

Explanation:

From the given information:

Using Schedule 1 (Form 1040), Additional Income & Adjustment to Income.

The taxable income can be determined as follows:

Particulars Form Amount($)

Wages (Form 1040, Line 1) 36,000

Add: Unemployed Income Schedule 1, Line 7 4,320

Add: Gambling winning Schedule 1, Line 8 500

Total Income $40,820

Less: Student loan Interest Schedule 1, Line 20 2,100

Taxable income $38,720

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You see a used sporty car that you would like to own. It costs $9,000 and you would pay 7.2% interest, compounded monthly and fi

bogdanovich [222]

Answer:

$24,705.8

Explanation:

To find the answer, we will use the present value of an annuity formula:

PV = A (1 - (1 + I)^-n / i

Where:

PV = Present value of the investment (in thise case, the cost of the car)
A = Value of the annuity (the monthly payments)
i = Interest Rate
n = number of compounding periods

The monthly payments are an annuity: they are periodic, fall under the same interest rate, and have the same value, therefore, if we find the value of the annuity, we will find the value of the first monthly payment at the same time (both things are the same):

Plugging the amounts into the formula we obtain:

9,000 = A ( 1 - (1 + 0.072)^-36 / 0.072

9,000 = A (12.75)

9,000 / 12.75 = A

705.88 = A

Now, to find the full value of the loan, we multiply the annuity value for 36, because that value will be paid 36 times until the loan is completed:

Full value of the loan = 705.88 x 36

= 25,411.68

Finally, to find the loan balance after the first payment, we take the full value of the loan, and substract the value of the annuity from it:

Loan balance after first payment = 25,411.68 - 705.88

= 24,705.8

3 0

3 years ago

Whispering Company sells goods that cost $301,000 to Ricard Company for $402,000 on January 2, 2020. The sales price includes an

Jobisdone [24]

Answer:

The amount of revenue to be recognized at 31st March is $383500

Explanation:

The revenue amount that should be recognized in the income statement as at March 31,2020 is the sales price of $365000 plus three months of installation fee since installation is expected to last six months and three months have passed since installation began.

Hence, the amount of revenue as at 31st March is calculated thus:

Sales price $365000

Installation fee for 3 months(3/6*$37000) $18500

Total revenue as at 31st March $ 383,500

The rationale behind this is that revenue is only recognized when the seller has discharged his or her obligation under the contract not when cash is received and it is very clear that installation has been undertaken for 3 out of 6 months

7 0

3 years ago

A nonprofit agency sets up a website to channel investments from all over the globe into microloans to support local farms, arti

ziro4ka [17]

Answer: Under the given circumstances , the following would be a positive externality for the global environment: Fewer people move from rural to urban areas, reducing urban sprawl.

Urban sprawl can lead to several negative externalities such as : pollution, exploitation of natural resources at an exponential rate, unemployment etc.

Therefore, if fewer people move from rural to urban areas, this will reduce urban sprawl and further every other negative externality associated with it.

The correct option is (A)

3 0

3 years ago

If a government chooses a system of marketable permits as its environmental managing tool, the reduction in pollution will

Natali5045456 [20]

If a government chooses to do this, the reduction in pollution will TAKE PLACE IN THE FIRMS WHERE ITS LEAST EXPENSIVE TO DO SO. If a government desire to establish a marketable permit program, it must first define the pollutants that will be allowed and their overall amounts that will be permissible. Companies that will mostly participate in the program will be those that do not produce much pollutants.

4 0

3 years ago

Employees whose values match the values of the organization they work for generally ________________ than employees whose values

Sholpan [36]

Answer:

Employees whose values match the values of the organization they work for generally SHOW MORE COMMITMENT TO THEIR JOBS than employees whose values don't match the organization.

Explanation:

Workplace values are the guiding principles that are most integral to the way a company works. Simply put, company's values, and the culture they create can spell the difference between success and failure.

The way people behave is deeply rooted in their values, when employees share their company's values, they make more informed decisions and are more committed to their jobs.

Sharing same values with the organization one works with increases the rate of productivity as one tends to be more motivated and dedicated to the job.

Therefore, the answer that best suits the question is that employees whose values match the values of the organization SHOW MORE COMMITMENT TO THEIR JOBS than employees whose values don't match the organization.

6 0

3 years ago