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Artyom0805 [142]
2 years ago
12

Question 56 of 75. Louise is a 29-year-old taxpayer who will use the head of household filing status. Her 2020 modified adjusted

gross income is $48,000. During the year, she made a $1,500 contribution to her employer's 401(k) plan. She has never taken a distribution from any retirement plan. The maximum amount Louise may receive for the retirement savings contributions credit (Saver's Credit) is:
Business
1 answer:
Andre45 [30]2 years ago
7 0

Considering the situation described above, the maximum amount Louise may receive for the retirement savings contributions credit (Saver's Credit) is "<u>$150</u>."

This is because according to the Internal Revenue Service regulations, for individuals filing under the head of household filing status, with an adjusted gross income of $31,876 - $48,750, such person would only be able to receive 10% of his retirement savings contributions credit (Saver's Credit).

Therefore, Louise has only contributed $1,500 to her employer's 401(k) plan. Consequently, she can only receive 10%, which is "<u>$150</u>."

Hence, in this case, it is concluded that the correct answer is "<u>$150</u>."

Learn more about Savers credit here: brainly.com/question/25767045

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Which of the following statements regarding "Six Sigma" is TRUE? The Six Sigma program was developed by Toyota in the 1970s Six
mestny [16]

Answer:

The term has two distinct meanings–one is statistical; the other is a comprehensive quality system.

Explanation:

Here, the point fact states that it will take a six standard deviation from the mean for an error to happen.

Six Sigma evolved to define numerous ideas within the business sphere and is sometimes confusing. Firstly, it's a statistical benchmark. Any business process, which produces less than 3.4 defects per 1 million chances is said to be efficient. A defect is anything produced outside of consumer satisfaction. Second, it is a training and certification program, which teaches the core principles of Six Sigma. Practitioners may achieve the Six Sigma certification belt levels, ranging from white belt to black belt. Finally, it's a philosophy, which promotes the idea that all business processes can be measured and optimized.

5 0
3 years ago
DeLong Corporation was organized on January 1, 2017. It is authorized to issue 14,500 shares of 8%, $100 par value preferred sto
DanielleElmas [232]

Answer:

Jan. 10

Cash $507,00 (debit)

Common Stock $507,00 (credit)

Mar 1

Cash $566,500 (debit)

Preferred Sock $515,000  (credit)

Share Premium : Preferred Stock $51,500 (credit)

April 1

Land $91,000 (debit)

Common Stock $91,000 (credit)

May 1

Cash $420,000 (debit)

Common Stock $420,000 (credit)

Aug 1

Legal Expenses : Attorneys bill $39,500 (debit)

Common Stock $39,500 (credit)

Sept 1

Cash $80,500 (debit)

Common Stock $80,500 (credit)

Nov 1

Cash $222,000 (debit)

Preferred Sock $200,000  (credit)

Share Premium : Preferred Stock $22,000 (credit)

Explanation:

<u>Common Stocks are at no par value:</u>

This means that ,

1.When Common Stocks are Issued, the value is the issue price there is no share premium reserve on it.

2. For consideration paid in Common Stocks, value of stocks would be the same as the cost at initial recognition. For example the Purchase of Land on April 1. Initial recognition is at Asking Price of $91,000. Hence common stocks are issued at $91,000.

<u>Preference Stocks are at $100 par</u>

This means that,

1.Any issue of Preference Stock made in excess of par value is accounted in the Preference Share Premium Reserve.

5 0
3 years ago
Foxtrot Co. started 2021 with $113,000 of merchandise inventory on hand. During 2021, $480,000 in merchandise was purchased on a
Marina CMI [18]

Answer:

$211,772

Explanation:

The computation of ending inventory is shown below:-

Discount = ($480,000 - $3,600) × 2%

= $9,528

Cost of goods for sale = Beginning inventory + purchases - returns at invoice price - Discounts + Freight - Cost of goods sold

= $113,000 + $480,000 - $3,600 - $9,528 + $7,900

= $587,772

Ending inventory = Cost of goods for sale - Cost of goods sold

= $587,772 - $376,000

= $211,772

So, the right answer is $211,772. Hence the option is not available.

4 0
3 years ago
Privately owned media companies in the united states earn most of their revenue from:.
IrinaVladis [17]

Answer:

advertising

Explanation: Mark me brainliest!!

8 0
2 years ago
The first person that answers ill give u 40 brainlist points hearts and stars
andrew-mc [135]

Answer:

Do you need help?

Explanation:

??

8 0
2 years ago
Read 2 more answers
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