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kati45 [8]
2 years ago
14

• Aiden and Sophia are married and they have always filed Married Filing Jointly.

Business
1 answer:
dem82 [27]2 years ago
7 0

Answer:

5. C

6. C

Explanation:

5. In this year 2020, The most advantageous filing status allowable that Sophia can claim on the tax return is option c :

Which is the Qualifying Widow(er)

This filing status known as the Qualifying widow/widower is applicable to surviving spouses like Sophia who have dependents. The surviving spouse would be able to file taxes jointly with the spouse who is now late.

6. Sophia can deduct a charitable contribution adjustment of option c:

Which is $300

In year 2020, those who are non-itemizers are able to claim up to $300 in an above-the-line income tax deductions for the monetary donations that they made in that year.

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Blaine Air Transport Service, Inc., providing air delivery service for businesses, has been in operation for three years. The fo
Valentin [98]

Answer:

Entries and their narrations are posted below

Explanation:

We will record assets and expenses on the debit as they increase during the year and will record liabilities and capital on the credit side as they increase during the year or vice versa.

February 1 (Paid $275 for rent of hangar space in February)

Rent (Expense)     Dr $275

Cash (Asset)                        Cr $275

February 2 (Purchased fuel costing $490 on account for the next flight to Dallas.)

Fuel (Expense)                             Dr $490

Accountt Payable (Liability)                            Cr $490

February 4 (Received customer payment of $820 to ship several items to Philadelphia next month.)

Cash (Asset)    Dr $820

Shipment (R)              Cr $820

February 7 (Flew cargo from Denver to Dallas; the customer paid $910 for the air transport)

Cash (A)   Dr $910

Ticket (R)              Cr $910

February 10 (Paid $175 for an advertisement in the local paper to run on February 19.)

Advertisement (E)    Dr $175

Cash (A)                              Cr $175

February 14 (Paid pilot $2,300 in wages for flying in January (recorded as an expense in January))

Wages payable (L) Dr 2300

Cash (A)                                Cr 2300

February 18 Flew cargo for two customers from Dallas to Albuquerque for $3,800; one customer paid $1,600 cash and the other asked to be billed.

Cash (A)                            Dr 1600

Account Receivable (A)   Dr 2200

Ticket (R)                                             Cr 3800

February 25 Purchased on account of $2,550 in spare parts for the planes.

Spares  (E)                    Dr 2550

Account Payable (L)                   Cr 2550

February 27 (Declared a $200 cash dividend to be paid in March.)

Retained Earnings (SE) Dr 200

Dividend Payable (L)                 Cr 200

8 0
3 years ago
In network marketing sales people earn money from their own sales and from what?
Stels [109]
The answer I think it is ,is (B.)
3 0
3 years ago
Read 2 more answers
If the effective annual yield on a bond is equal to the bondʹs coupon rate, the bond will have a market value that is
Mazyrski [523]

Answer:

The coupon rate is the stated periodic interest payment due to the bondholder at specified times. The bond's yield is the anticipated overall rate of return. If the bond's price changes and is no longer offered at par value, the coupon rate and the yield will no longer be the same as the coupon rate is fixed and yield is a derivative calculation based on the price of the bond.

4 0
1 year ago
Foreign investors assess not only the interest rate offered on financial securities but also (check all that apply):
Greeley [361]

Answer:

their total wealth

-their future expenditure needs

-the risk on the security

Explanation:

Financial System

This simply are markets and various financial units or intermediaries that help transfer financial assets, real assets, and financial risks in various forms from one person to another, from one place to another, and from one point to another

3 Main functions of the Financial System

1.) The achievement of the purposes for which people use the financial system

2.) The discovery of the rates of return that equate aggregate savings with aggregate borrowings

3.) The allocation of capital to the best uses

An investment

This is simply defined as the current commitment of current resources in the hope of getting greater resources in the future. It reduces current consumption in hopes of greater future consumptions. When making investment, different actions are considered before decision making.

7 0
3 years ago
Cecelia's government provides for her basic needs. In return, Cecelia works in the factory downtown, as she always has since the
amid [387]
The choices can be found elsewhere and as follows:

<span>A. a market system
B. a planned system
C. a mixed system
D. none of the above

I think the correct answer is option B. </span>Cecelia's government can be considered a planned system. It <span>is an economic </span>system<span> in which inputs are based on direct allocation. Hope this answers the question. Have a nice day.</span>
5 0
3 years ago
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