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bija089 [108]
2 years ago
10

Simone's (57) husband, Charles, died in 2017, and she has not remarried. Simone's mother, Lucy, lives in a nursing home. Lucy's

only income for 2020 consisted of $17,650 in social security benefits. Simone pays the entire cost of the nursing home and more than 50% of Lucy's support. Simone does not have any children, and no one else lives with her. What is Simone's correct and most favorable filing status
Business
2 answers:
Naddika [18.5K]2 years ago
6 0

Since Simone does not have any children and no one else lives with her, then, her correct and favorable filing status is Head of Household.

Basically, the filing status determines the amount of tax payable that a tax payer is liable to pay to the authority.

The filing status recognized in U.S. includes Single, Married filing jointly, Married filing separately, Head of household and Qualifying widow(er) with dependent child.

Since Simone does not have any children and no one else lives with her, then, her correct and favorable filing status is Head of Household.

Read more about this here

<em>brainly.com/question/14457852</em>

joja [24]2 years ago
3 0

Answer:

Head of household.

Explanation:

Simone is paying Lucy's entire nursing home cost & providing more than 50% of Lucy's support. this make Lucy qualified as Symone's dependents.

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Green Thumb Nursery has 53,000 shares outstanding at a market price of $63.57 per share. The earnings per share are $3.57. The f
mamaluj [8]

Answer: $3.70

Explanation:

Earnings per share = Net income / Number of shares

Net income = Earnings per share * Number of shares

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6 0
2 years ago
Listed below are year-end account balances (in $millions) taken from the records of Symphony Stores.
azamat

Answer:

d) $2,377 millions.

Explanation:

Total of Assets comprises the sum of Current Assets and Non Current Assets. Current Assets are assets of a short term nature not exceeding 12 months and Non - Current Assets are assets of a long term nature, exceeding 12 months.

In the Balance Sheet, some assets are presented at their net amounts. Property Plant and Equipment is presented net of accumulated depreciation. Trade Receivables are presented net of allowances for uncollectable amounts.

Therefore,

Total Assets Calculation :

                                                                       $ millions

Accounts receivable-trade                              699

Building and equipment                                  930

Cash-checking                                                   40

Interest receivable                                             34

Inventory                                                            25

Land                                                                  166

Notes receivable (long-term)                         484

Petty cash fund                                                   7

Prepaid rent                                                      28

Supplies                                                              8

Trademark                                                        49

Accumulated depreciation                             (75)

Allowance for uncollectible accounts            (18)

Total Assets                                                  2,377

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Answer:

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