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Anettt [7]
2 years ago
11

Fredrick is single and lives alone. He paid more than half of the cost of maintaining a home for his father for the entire year.

He cannot claim his father as a dependent. Which filing status can Fredrick use
Business
1 answer:
Elan Coil [88]2 years ago
4 0

Because Fredrick can not claim his father as a dependent then, the filing status that can Fredrick use is Single.

<h3>What is a filing status?</h3>

A filing status is a tax status that is used to determine a taxpayer's filing requirements, standard deduction, eligibility for certain credits, correct tax etc.

In conclusion, because Fredrick can not claim his father as a dependent then, the filing status that can Fredrick use is Single.

Read more about filing status

<em>brainly.com/question/1831273</em>

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Current Attempt in Progress
Allisa [31]

Answer:

Net Increase in cash = $124,200

Explanation:

Note: The correct value for Year 2021 inventory is $510,300 not $10,300.

Also note: See the attached excel file for the statement of cash flows for 2022.

In the attached excel file, the following workings are used:

Workings:

w.1: Increase in accounts receivable = Account receivable in 2022 - Account receivable in 2021 = $237,600 - $205,200 = $32,400

w.2: Decrease in inventory = Inventory in 2022 - Inventory in 2021 = $450,900 - $510,300 = -$59,400  

w.3: Decrease in accounts payable = Accounts receivable 2022 - Accounts receivable 2021 = $105,300 - $116,100 = -$10,800

w.4: Disposal of land = Land in 2021 - Land in 2022 = $270,000 - $216,000 = $54,000

w.5: Purchase of equipment = Equipment in 2022 - Equipment in 2021 = $702,000 - $540,000 = $162,000

Download xlsx
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