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ipn [44]
3 years ago
10

Clark, a widower, maintains a household for himself and his two dependent preschool children. For the year ended December 31, 20

20, Clark earned a salary of $32,000. He paid $3,600 to a housekeeper to care for his children in his home, and also paid $1,500 to a kiddie play camp for child care. He had no other income or expenses during 2020. Before considering any limitation due to tax liability, how much can Clark claim as a child and dependent care credit in 2020
Business
1 answer:
dem82 [27]3 years ago
8 0

Answer:

$,1,326

Explanation:

Calculation to determine how much can Clark claim as a child and dependent care credit in 2020

Using this formula

Amount to claim=Tax rate*(Housekeeper salary+ Amount paid to Kiddie play camp)

Let plug in the formula

Amount to claim=26% *($3,600 + $1,500)

Amount to claim=26%*$5,100

Amount to claim=$1,326

Therefore The amount that Clark can claim as a child and dependent care credit in 2020 is $1,326

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9) Selected information regarding a company's most recent quarter follows (all data in thousands). 9) _______ Direct labor $540
disa [49]

Answer:

Direct material= $340

Explanation:

Giving the following information:

Direct labor $540

Beginning work in process inventory $330

Ending work in process inventory $420

Cost of goods manufactured $1620

Manufacturing overhead $830

T<u>o calculate the direct material used in production, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

1,620= 330 + DM + 540 + 830 - 420

Direct material= $340

6 0
3 years ago
Recently, U.S. dairies, struggling to increase milk sales, tried to change the way adults thought about chocolate milk. The dair
Blizzard [7]

Answer:

The correct answer is C

Explanation:

Repositioning is states as altering or changing the position of the product in the customer minds as relative to the offerings of the product. It is very difficult as well as subtle procedure as the brand or the product needs or require to change the market understanding of the product.

In this case, the dairies would like to reposition the chocolate milk in the minds of the adult customers as they are trying to change the way adults think of chocolate milk.

7 0
3 years ago
Suppose the Fed decides it needs to pursue an expansionary policy. Assume people hold no cash, the reserve requirement is 50 per
DENIUS [597]

Answer:

Because the current money multiplier is <u>2</u>, the Fed would <u>BUY $500,000</u> worth of bonds, <u>INCREASING</u> the monetary base and so increasing the money supply by $1 million.

Explanation:

if the Fed wants to increase the money supply by $1 million, then it would need to purchase US securities worth $500,000. The formulas used to calculate the impact of the Fed's operations are:

increase in money supply = additional funds x money multiplier

  • money multiplier = 1 / reserve ratio = 1 / 50% =  2
  • desired increase in money supply = $1 million

$1,000,000 = additional funds x 2

additional funds = $1,000,000 / 2 = $500,000

6 0
3 years ago
Assume today is December 31, 2019. Imagine Works Inc. just paid a dividend of $1.25 per share at the end of 2019. The dividend i
lidiya [134]

Answer:

Value of stock = $47.99

Explanation:

<em>The price of a stock using the dividend valuation model is the present value of the the future dividend expected from the stock discounted at the required rate of return.</em>

Year                                   Present Value  

1    1.25× 1.15^1 × 1.095^(-1) =1.31

2    1.25× 1.15^2 × 1.095^(-2) = 1.38

3.    1.25× 1.15^3 × 1.095^(-3)= 1.45

Present value of Dividend in Year 4 and beyond

This will be done in two steps

Step 1

PV in year 3 terms  

= Dividend in year 4× (1.06)/(0.095-0.06)

1.25× 1.15^3 × 1.06/(0.095-0.06)=57.57

PV in year 0 terms =

PV in year 3 × 1.095^(-3)

=57.5759 × 1.095^(-3)= 43.852

Value of stock = 1.3  + 1.38 + 1.45  + 43.852= $47.99

Value of stock = $47.99

5 0
2 years ago
Marco, a real estate agent, receives a dozen emails in his inbox. Six of the emails are inquiries to a new condo listing he has
denis23 [38]

Answer:

Yes because Marco discriminated by ignoring the email due to its appearance of being linked to someone of a different national origin

Explanation:

Real estate agents are not allowed to discriminate against buyers of property. Of they do they can lose their Liscence.

Discrimination is the act of behaving differently

and withholding benefits from people based on their race, colour, religion, sex, or gender.

In this scenario Marco ignores communicating with one of his clients because the email address has a last name in it that appears to be Irish.

He did not consider the application at all resulting in the client losing the opportunity to obtain the new condo.

As a result of this discriminatory action Marco stands the risk of losing his liscence

4 0
3 years ago
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