To answer the question above as to what effect will the tax increase have on savings and investment in the economy when the government decides to increase the tax rate for everyone in that sector is that people will be hesitant to save and invest, they'll be sure to weigh in as to which would be the proper move if the tax increase will cripple their investments or savings. Tax increase harms economic growth in a sense that it will affect peoples savings and investment which plays a key role in the economy.
Answer:
a. Elaine’s AGI is $92,750.
- $2,000 + (25% x $1,820) = $2,455
b. Elaine’s AGI is $164,500.
- $2,455 - (5 x $125) = $1,830
c. Elaine’s AGI is $211,000.
Explanation:
During 2018, the American Opportunity Credit for married taxpayers filing jointly started to phase out when their AGI was over $160,000. Once the AGI reached $180,000, the credit phased out completely.
The AOC covered 100% of the first $2,000 in qualified expenses and then up to 25% of the next $2,000. The maximum amount = $2,000 + (25% x $2,000) = $2,500
Answer:
1)
Debit Cash/Bank 27,000 (4,500 shares x $6 per share)
Credit Common Stock 13,500 (4,500 shares x $3 per share)
Credit Paid-In Capital in Excess of Stated Value—Common 13,500 (4,500 shares x $3 per share)
2)
Debit Cash/Bank 135,000 (4,500 shares x $30 per share)
Credit preferred Stock 135,000 (4,500 shares x $30 per share)
Explanation:
any issuing price of stock above par value will be credited in "Paid-In Capital in Excess of Stated Value—Common"
In evaluating companies across industries, financial managers will often read the independent auditor s report <span>as a means of interpreting the statements correctly. The correct option among all the options that are given in the question is the fourth option or option "d". I hope that this is the answer that has helped you.</span>
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