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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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Product V72 sells for $20 per unit as is, but if enhanced it can be sold for $25 per unit. The enhancement process will cost $52
Furkat [3]

Answer:

It will incur an Opportunity cost of $8,000.

Explanation:

It will incur the opportunity cost of $8000 because the additional unit produces by the company then the additional revenue that is generated will be equal to the amount (25 - 20) x 12,000 = 60,000. Since the additional cost, that incurs for the production of 12000 units is 52000. Therefore the profit earned is $8000.

So if the company does not produce it then it will lose the profit of $8000.

3 0
3 years ago
Which component of a service is the ability to perform the service dependably, accurately, and consistently?
Elena-2011 [213]
Good treatment for customer,well coming of the customer,to provide quality surviec
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6 0
3 years ago
On January 8, Lowrence Co. issued a $60,000, 120-day discounted note to Raines Bank. The discount rate is 8%. Assuming a 360-day
Salsk061 [2.6K]

Answer:

a. $58,400

Explanation:

A discounted note, will make the person receive a lesser amount than the amount due at maturity. This way the person who grants the note is receiving interest for borrowing.

<em><u>Calculations</u></em>

principal x discount rate x time = discount

<em><u>Where</u></em> rate and time should be expressed in the same metric IE if the rate is annual express time in portion of years if it is monthly, in months.

60,000 x 0.08 x 120/360 = 1,600

Now, we subtract this amount form the nominal:

nominal - discount = net

60,000 - 1,600 = <u>58,400</u>

6 0
3 years ago
Read 2 more answers
On January 1, Kirk Corporation had total assets of $425,000. During the month, the following activities occurred: Kirk Corporati
nadya68 [22]

Answer:

$428,000

Explanation:

The only movement that impact the total assets it's:

Kirk Corporation acquired equipment costing $3,000, promising to pay cash for it in 60 days.

Due to the equipment was finance by the supplier by 60 days it has a positive impact on assets and liabilities.

The others transactions:

  • Kirk Corporation purchased $1,750 of supplies for cash, it has no impact because the supplies was paid with cash, so the impact on assets is zero.
  • The land had cost $7,500 and it was sold for $7,500 cash.  The land it's a long term assets that was sold for cash, so it was converted to current assets in money.
  • Kirk Corporation signed an agreement, the impact it's in the next month, so it has no impact the current month analized.
3 0
3 years ago
Honest Abe's is a chain of furniture retail stores. Integral Designs is a furniture maker and a supplier to Honest Abe's. Honest
Pachacha [2.7K]

Answer:

The discount rate is 12.46%

Explanation:

In this question, we use the Capital asset pricing model (CAPM).

The formula and computation of the discount rate is shown below:

= Risk-free rate of return + (Beta × Market risk premium)

= 3.5% + (1.12 × 8%)

= 3.5% + 8.96%

= 12.46%

Since we have to compute the discount rate for the project that involves the manufacturing of furniture, so we have to use the Integral designs beta instead of the Honest Abe because Integral design is a furniture maker

8 0
3 years ago
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