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Black_prince [1.1K]
2 years ago
10

Jennifer received $6,000 interest; $4,800 was tax-exempt and $1,200 was taxable. In earning this income, she had $500 of expense

s. Jennifer cannot specifically identify the amount of each expense item that is for each income item. What amount of interest expenses can Jennifer deduct from her tax return for tax year 2019
Business
1 answer:
Marat540 [252]2 years ago
3 0

Answer:

The amount of interest expenses that Jennifer can deduct from her tax return for tax year 2019 is $100.

Explanation:

The amount of interest expenses that Jennifer can deduct from her tax return for tax year 2019 can be calculated using the following formula:

Interest expenses deductible = (Taxable interest / Total interest) * Interest expenses .................... (1)

Where;

Taxable interest = $1,200

Total interest = $6,000

Interest expenses = $500

Substituting the values into equation (1), we have:

Interest expenses deductible = ($1,200 / $6,000) * $500

Interest expenses deductible = 0.20 * $500

Interest expenses deductible =$100

Therefore, the amount of interest expenses that Jennifer can deduct from her tax return for tax year 2019 is $100.

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which of the following is true about product life cycles? group of answer choices a reminder promotion is normally used in the i
bulgar [2K]

Based on business strategies and production, the statement that is true about product life cycles is "Early adopters buy in the introductory phase."

<h3>What is the Life Cycle of a Product</h3>

The life cycle of a product is a term that is used to describe the proportion of time a product goes from being introduced into the market by the producers until it's taken off the shelve.

Usually, the product life cycle is in different stages, and each of the stages is important to the success of the products in the market.

<h3>The Life cycle of a product is the following:</h3>
  • introduction,
  • growth,
  • maturity, and
  • decline.

Generally, the in the introduction stage of a product's life the early adopters are the first category of consumers that try new products before most other consumers key into it.

Hence, in this case, it is concluded that the correct answer is option c. "Early adopters buy in the introductory phase."

Learn more about the Product Life cycle here: brainly.com/question/7510515

#SPJ1

8 0
1 year ago
On December 31, 2019 a company’s Accounts Receivable balance was $440,000. During the year the company recorded credit sales of
Semenov [28]

Answer: Option C - Assets are Overstated; No effects on liabilities: Equity is Overstated

Explanation:

When Bad debts are recorded, they will reduce the Accounts Receivable account because less money will be expected from debtors. Accounts Receivable is an asset account so it will be Overstated if bad debts are not recorded.

Equity will also be overstated because bad debts is an expense that is sent to the Income statement. If this expense is not deducted, the net income will be larger than it should be and when added to Equity it will overstate it.

6 0
3 years ago
The two major types of transactions that affect the international flow of money are:
andre [41]
The two major types of transaction that affects the international flow of money are b. debits and credits.
When you say debits, it the liabilities and when you say credits its the assets. These two is the major transaction that makes a big impact to the economy.
4 0
2 years ago
Read 2 more answers
Colin and Natalie orally agreed with Medical Center X for an in vitro fertilization procedure that would not result in the birth
Nadusha1986 [10]

Answer:

c. The medical center will prevail based upon the written contract

Explanation:

Since they later signed a written contract where it is stated in paper and has their signature that the medical center could not assure nor take any responsibilities for the birth of a kid without any medical, mental or physical defects the medical center has the upperhand on the court, as well as they did in Scalisi et al. v. New York University Medical Center that promised a perfect designed baby, the Scalsi decided for invitro fertilization because of the wife´s family medical history and tendency to autism, and they ended up with a baby with autism, so they sue the New York University Medical center, but the court sided with the NYUMC because of the written contract where it stated that they couldn´t assure the baby to be born without any medica, mental or physical defects.

5 0
2 years ago
A man aged 40 wishes to accumulate a fund for retirement by depositing $1,000 at the beginning of each year for 25 years. Strati
Firdavs [7]

Answer:

The man will made 15 drawins for 31,468 at their retirement age.

Explanation:

We solve for the future value of the annuity-due (deposits at the beginning)

C \times \frac{(1+r)^{time} -1}{rate}(1+r) = FV\\

C 1,000.00

time      25

rate         0.04

1000 \times \frac{(1+0.04)^{-25} -1}{0.04}(1+0.04) = PV\\

FV $375.1168

Now, we calcualte the amount of the withdrawals considering the new rate:

PV \div \frac{1-(1+r)^{-time} }{rate}(1+r) = C\\

375.116802253964 \div \frac{1-(1+0.035)^{-15} }{0.035}(1+0.035) = C\\

C  $ 31.468

7 0
3 years ago
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