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Cloud [144]
3 years ago
13

John and Shirley have one child eligible for the Child Tax Credit, file their tax return as married filing jointly and, at a $41

0,000 modified adjusted gross income for 2019, they have an AGI that exceeds the threshold at which the Credit begins to phase out. For what Child Tax Credit would they be eligible?
Business
1 answer:
kondaur [170]3 years ago
4 0

Answer:

Since John and Shirley's income is above that level, $410,000, they will receive up to $1,500 per qualifying child.

Explanation:

The amount of the child tax credit for 2019 is up to $2,000 per child and $500 per dependent, but if the AGI exceeds $400,000 for a married couple filing jointly, it starts to phase out. The credit is reduced by $50 for each $1,000 over the threshold amount.

Since John and Shirley's income is above that level, $410,000, they will receive up to = $2,000 - (10 x $50) = $1,500 per qualifying child.

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Aliun [14]

Answer:

The answer is A

Explanation:

Voice of the Process

4 0
2 years ago
The manager of the bank where you work tells you that your bank has $6 million in excess reserves. She also tells you that the b
sukhopar [10]

Answer and Explanation:

The computation of the reserve requirement is given below;

Required reserves is

= Deposits - loans - excess reserves

= $400 - $362 - $6

= 32 million

And,  

Required reserve ratio is

= Required reserves ÷ Deposits

= 32 ÷ 400

= 8%

In this way, it should be determined so that the correct value & percentage could come

3 0
3 years ago
Bramble Corp. incurs the following costs to produce 13000 units of a subcomponent: Direct materials $10920 Direct labor 14690 Va
Mumz [18]

Answer:

$4,850

Explanation:

The computation is shown below:

Total cost when the production is 13,000 units

Direct materials $10,920

Direct labor $14,690

Variable overhead $16,380

Total $41,900

And, the other case

Their new cost on supplier offer is

= $2.85 × 13,000 units

= $37,050

In the case when the order is accepted So the net income would increased by

= $41,900 - $37,050

= $4,850

7 0
3 years ago
Tonya's company set up a booth at the college job fair to identify spring graduates who might be candidates for employment. This
Lerok [7]

Tonya's company set up a booth at the college job fair to identify spring graduates who might be candidates for employment. This is an example of recruiting.

  • Give candidates a chance to interact directly with the employer. Give a company the chance to evaluate the skills of a possible employee.
  • All businesses must generally decide on three aspects of hiring: personnel policy, sources of hiring, and the traits and conduct of the recruiter.
  • To assist your company in gaining a competitive edge through enhanced productivity, performance, and efficiency.

Employees' knowledge and abilities should be improved for their existing roles-

  • Professional education
  • Mentoring and coaching.
  • Cross-disciplinary instruction.
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Learn more about recruiting brainly.com/question/13622355

#SPJ4

4 0
2 years ago
Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. Durin
amm1812

Answer:

The journal entries are made as  follows;

Explanation:

1.Cash  100,000*50                 Dr.$5,000,000

Common Stocks    100,000*5 Cr.$500,000

Paid in capital-common stocks  Cr.$4,500,000

2.Treasury Stocks          20,000*45  Dr.$100,000

   Cash 20,000*45                          Cr.$100,000

3. Cash 7,500*46                      Dr.$345,000

    Treasury Stocks 7,500*45        Cr.$337,500

    Paid in Capital-Treasury stocks  7,500*(46-45)   Cr.$7,500

4.Cash 7,500*44                                      Dr.$330,000

Paid in capital-Treasury Stock 7,500*1       Dr.$7,500  

Treasury stocks 7,500*45                       Cr.$337,500

   

 

   .        

6 0
2 years ago
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