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Wewaii [24]
2 years ago
7

Rich and Lucy were married for 52 years. Rich died on May 9, 2020. Lucy has no dependents, and she did not remarry. The correct

and most favorable filing status for Lucy's 2020 return is: Married filing jointly. Married filing separately. Single. Qualifying widow.
Business
2 answers:
KATRIN_1 [288]2 years ago
4 0

Based on the year that Rich died and the year that Lucy is filing her taxes, the most favorable filing status is <u>Married filing jointly. </u>

Current tax laws are such that if a person loses a spouse in a certain year and does not remarry in that year, they can file in a joint manner with their now late spouse.

Rich died in 2020 and Lucy did not remarry. Lucy's 2020 returns can therefore be filed as a joint filing with Rich even though he is no longer alive.

In conclusion, the correct answer is option A.

Find out more about joint filing at brainly.com/question/2433386.

VashaNatasha [74]2 years ago
4 0

Answer:

Qualifying widow.

Explanation:

You might be interested in
Oriole Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The goods have a sales price of $65
labwork [276]

Answer:

Explanation:

The journal entries are shown below:

Using net method:

1. Notes receivable A/c Dr $650,000        ($659,900 - $9,900)

      To Sales revenue A/c $650,000

(Being the sale is recorded)

2. Cost of goods sold A/c Dr  $460,000

        To Inventory A/c $460,000

(Being cost of goods sold is recorded)

3. Cash A/c Dr $659,900

       To Notes receivable  $650,000

       To Discount forfeited $9,900

(Being received payment is recorded)

Using gross method:

1. Notes receivable A/c Dr $650,000        ($659,900 - $9,900)

      To Sales revenue A/c $650,000

(Being the sale is recorded)

2. Cost of goods sold A/c Dr  $460,000

        To Inventory A/c $460,000

(Being cost of goods sold is recorded)

3. Cash A/c Dr $659,900

       To Notes receivable  $659,900

(Being received payment is recorded)

6 0
2 years ago
In the Challenge​ Solution, would it make a difference to the analysis whether the​ lump-sum costs such as registration fees are
Assoli18 [71]

Answer:

The answer is "nothing changes because the fees would still be fixed costs."

Explanation:

When annual expenses throughout the cash payment are recovered, a long-term delivery curve of both the company will change.

When the lump sum costs are still only obtained once, the long-term supply curve shall be changed.

It is because, regardless of how it is paid, this tv license has little effect mostly on low cost but only a fixed cost. Its amount of output relies on how well the cost of the profit changes. Provided these are fixed costs, their performance doesn't matter.

5 0
2 years ago
Company ABC has determined that the surprising influx in client complaints was caused when an employee left, which led to an inc
mina [271]
They should just probably hire another employee or something I don’t know.
6 0
2 years ago
A personal identification number(PIN) is used to protect: A checks B deposit slips C debit cards D check registers
saw5 [17]

Answer:

<u>If there is an </u><u>all of the above option</u><u> click that but if not hit</u> D: Check registers

Hope this helps!

5 0
3 years ago
Currency exchange rates.
sasho [114]

Answer:

$3,402.04

Movement helped you

Explanation:

The initial amount of $3,700 when converted to British pounds at a rate of $1:£0.49 yielded:

I = \$3,700*0.49\frac{\pounds}{\$}\\I=\pounds 1,813

If the remaining amount was ​£146, the total spend in dollars is given by:

S=\frac{\pounds1,813- \pounds146}{0.49} \\S=\$3,402.04

The amount spent in England in U.S.​ dollars was $3,402.04.

If the exchange rate was still $1:£0.49, the amount received back would be:

A_1 = \frac{146}{0.49}=\$297.96

At the new rate of $1:£0.45, the amount received is:

A_2 = \frac{146}{0.45}=\$324.44

Therefore, the movement in the exchange rate helped you.

8 0
3 years ago
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