1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nalin [4]
2 years ago
11

Lucas, a single U.S. citizen, works in Denmark for MNC Corp during all of 2019. His MNC salary is $87,000. Lucas may exclude fro

m his gross income wages of: a.$105,900 b.$87,000 c.$40,000 d.$0
Business
1 answer:
Likurg_2 [28]2 years ago
7 0

Lucas can exclude from his gross income wages of $87,000.

Usually, a United State's citizen living and working abroad is taxed on his worldwide Income.

The maximum amount of exclusion of foreign earned income for Singles in 2019 is $105, 900.

Here, he is a single taxpayer who worked in Denmark for MNC Corp for the whole of 2019 and earned the salary of $87000.

He's eligible to exclude the amount of $105,900 from his gross income. and his salary is less than maximum limit allowed for exclusion, therefore, the gross income will be excluded.

In conclusion, the Option B is correct because can exclude from his gross income wages of $87,000.

See similar solution here

<em>brainly.com/question/15102339</em>

You might be interested in
On August 1, Gilgen Brothers bought goods with a list price of $19,200, terms 2/10, n/30. The firm records purchases at invoice
N76 [4]

Answer:

Accounts payable Dr,    $16,800

Purchase discount Dr,    $336

             To Cash                    $16,464

Explanation:

The Journal entry is shown below:-

Accounts payable Dr,    $16,800

Purchase discount Dr,    $336

             To Cash                    $16,464

(Being Cash is recorded)

Working Note :-

List price of goods after return = $19,200 - 2400

= $16,800

Discount on balance = 16800 × 0.02

= $336

For recording the cash we simply debited accounts payable, purchase discount and credited the cash

5 0
4 years ago
A rapidly growing small firm does not have access to sufficient external financing to accommodate its planned growth. Discuss wh
monitta

Answer:

Alternatives :

1. Bank Overdraft facility

2.Suppliers Credit

Cost determination :

1. Bank Overdraft facility = Interest rate charged on the facility by the bank

2.Suppliers Credit = Opportunity cost of losing the early settlement discount.

Explanation:

If the company can not access sufficient external financing, consider internal sources such as bank overdraft or suppliers credit.

The cost of bank overdraft is evaluated based on the interest rate charged by the bank whilst the cost of the suppliers credit is determined by considering the opportunity cost of losing the cash discount available.

3 0
4 years ago
We observe a 20 percent increase in units purchased and an 8 percent decrease in price. The price elasticity of demand in terms
harina [27]

Answer:

the correct answer

a) 2.5

8 0
3 years ago
Which sentence describes an incident report? A. Ginger writes a report requesting her manager to purchase new desk chairs. B. Gi
nikdorinn [45]

Answer:

e

Explanation:

it most likely make sense its e because c is forensics and an incident report is usually when an incident/scene happens and everything seems like positive situation besides e

8 0
3 years ago
B. What the impact on XYZ's accounting equation in Maywhen it recorded the transaction as a debit to consultant expense for $10,
JulijaS [17]

Answer:

The above entry would decrease stockholders' equity by $10,000 and increase the liabilities by $10,000.

Explanation:

Consultation expense is an expense and when the expense gets debited, it refers to expense being incurred which in turn decreases stockholders' equity. Accounts payable is a liability and crediting accounts payable increases the liability.

4 0
3 years ago
Other questions:
  • Confronted with the same unit cost data, a monopolistic producer will charge:
    9·1 answer
  • As technology grows, so does its uses. Companies are finding ways to let their employees manage various parts of their job witho
    10·1 answer
  • Fretonia and Libstien are the same except Fretonia has a larger capital stock. Both countries undertake policies that raise thei
    7·1 answer
  • Companies in complex, dynamic environments with high levels of differentiation would be most successful with select one:
    12·1 answer
  • Which sentence in the passage represents a safe work practice? Daisy and Norah are colleagues in a software company. A.Daisy slo
    15·2 answers
  • Preadvertised products that are not actually on the market yet and may not even exist are referred to as _____. A. substitute pr
    6·1 answer
  • Neon Light Company of Kansas City ships lamps and lighting appliances throughout the country. Ms. Neon has determined that throu
    7·1 answer
  • When society produces the combination of goods and services on the ppf that it values the most highly, society has?
    12·1 answer
  • BAK Corp. is considering purchasing one of two new diagnostic machines. Either machine would make it possible for the company to
    15·1 answer
  • What's an assembly line for business and what does it do? ​
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!