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aliya0001 [1]
3 years ago
8

Graciela, who is single, reported itemized deductions of $6,450 on her 2017 tax return. Her itemized deductions included $200 of

state taxes paid. In 2018, she received a $150 refund of state taxes paid in 2017. What is the amount that Graciela needs to report on her 2018 tax return?
Business
1 answer:
oksian1 [2.3K]3 years ago
4 0

Answer:

$100

Explanation:

Since the standard deduction for 2017 was $6,350, and Graciela only reported $100 more, she needs to report only $100 of the state tax refund. State tax refunds are not considered income unless you itemize your deductions, and in case you did, like Graciela, you must only report the amount that exceeds the standard deduction.

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You are planning to save for retirement over the next 25 years. To do this, you will invest $820 per month in a stock account an
alina1380 [7]

Answer:

The withdraw amount is "11,227.42".

Explanation:

The given values are:

In stock account,

PMT = $820

Interest rate = \frac{10.2 \ percent}{12}

N = 300

PV = 0

In Bond account,

PMT = $420

Interest rate = \frac{6.2 \ percent}{12}

N = 300

PV = 0

Now,

By using the FV (Future value) function, the value in Stock account will be:

= FV(rate,nper,pmt,[pv],[type])

= 1,125,795.30

By using the FV (Future value) function, the value in Stock account will be:

= FV(rate,nper,pmt,[pv],[type])

= 300,181.3321

After 25 years,

The value throughout the account, will be:

= 300,181.3321 + 1,125,795.30

= 1,425,976.63

By using the PMT function, we can find the with drawling amount. The amount will be:

= PMT(rate, nper, pv, [fv], [type])

= 11,227.42

4 0
2 years ago
. "Place" decisions: A. may focus on the location of retail stores and wholesale facilities. B. may focus on the selection and u
beks73 [17]

Answer:

E

Explanation:

All of these choices are correct.

Place refers to the channels of distribution either through distribution/market channels and physical distribution. It is a vital part of the total marketing mix, it ensures that products are available to the appropriate markets, at the right proportion or quantity, at the best condition, appropriate time, anytime and at all times.

5 0
3 years ago
Assume that banks do not hold excess reserves and that households do not hold currency - the only form of money is demand deposi
dsp73

Answer:

A. If the reserve requirement is 5% then money multiplier is 20 and the the money supply for each reserve requirement is $10,000 billion

B. If the reserve requirement is 10% then money multiplier is 10 and the the money supply for each reserve requirement is $5,000 billion

For a given level of reserves, a lower reserve requirement is associated with a larger money supply. Suppose the Federal Reserve (the Fed) wants to increase the money supply by $500 billion. Again, you can assume that banks do not hold excess reserves and that households do not hold currency. If the reserve requirement is 10%, the Fed will use open-market operations to buy $50 billion worth of U.S. government bonds. Now, suppose that rather than immediately lending out all excess reserves, banks begin holding some excess reserves due to uncertain economic conditions. Specifically, in addition to the required reserves of 10%, banks hold an additional 40% of their deposits as reserves. This increase in the reserve ratio causes the money multiplier to fall to 2. Under these conditions, the Fed would need to buy $250 billion worth of U.S. government bonds in order to increase the money supply by $500 billion.

The following statements help to explain why the Fed cannot precisely control the money supply are:

B- The Fed cannot control the amount of money that households choose to hold as currency.

C- The Fed cannot control whether and to what extent banks hold excess reserves.

Explanation:

A. If the reserve requirement is 5% then money multiplier is 20 (= 100%:5%) and the the money supply for each reserve requirement is $10,000 billion (=$500 billion x 20)

B. If the reserve requirement is 10% then money multiplier is 10 (= 100%:10%) and the the money supply for each reserve requirement is $5,000 billion (=$500 billion x 10)

5 0
3 years ago
Andrews Inc. issues a $497,000, 10% 3-year mortgage note on January 1. The note will be paid in three annual installments of $20
Vladimir79 [104]

Answer:

$34,670.

Explanation:

An Amortization schedule will be prepared to determine the interest expense of second year.

Year    Opening           Installment          Interest        Reduction       Closing

           Balance                                        Expense      in Principal      Balance

1         $497,000          $200,000           $49,700       $150,300       $346,700

2          346,700            200,000              34,670         165,330          181,370

Installment comprises of two components: Interest Expenses and Repayment of a Portion of Principal. The interest expense is charged on the closing balance, where as Repayment of Principal is calculated as the difference of Installment and Interest Expense.

4 0
3 years ago
Some similarities between Netflix, Apple and Walmart
irakobra [83]

Answer:

They all cost money

Explanation:

5 0
3 years ago
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