Required information [The following information applies to the questions displayed below.] Demarco and Janine Jackson have been married for 20 years and have four children (no children under age 6 at
Answers
Using tax schedule, Jackson will receive a tax refund of $5573.
AGI = $100,000 (Salary income)
Gain on sale of house = $50, 000 (Given ) (It qualifies for exclusion and will not be included in tax liabilities)
Itemized deductions = $16,500 (Given)
Standard deduction = $24,400 (This is greater, so it is used for deduction)
Total taxable income = AGI -Standard deduction for married fitting jointly
= $100,000 - $24,400
= $75,600
Total tax liability = $1,975 + [12% * ($75,600 - $19,750)]
= $8,677
Withheld paychecks taxes = $6,250 (Given)
Taxes owed = $2,427
Credits = 4 children x $2,000 = $8,000
Net tax liability = Taxes owed - Credits
= $2,427 - $8,000
= ($5,573) refundable
Therefore, Demarco and Jackson would receive a tax refund of $5573.
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The complete question is:
Demarco and janine jackson have been married for 20 years and have four children who qualify as their dependents (damarcus, janine, michael, and candice). the couple received salary income of $100,000, and they sold their home this year. they initially purchased the home three years ago for $200,000 and they sold it for $250,000. the gain on the sale qualified for the exclusion from the sale of a principal residence. the jacksons incurred $16,500 of itemized deductions, and they had $6,250 withheld from their paychecks for federal taxes. they are also allowed to claim a child tax credit for each of their children. (use the tax rate schedules.)
Related Questions
The Federal Reserve Board (the Fed) examines the relevant economic data and makes a judgment about the present and future state of the economy in order to set interest rates. If economic activity seems to be slowing down, the Fed might decide to lower interest rates as a means for ttimulating economic growth. If the economy seems to be growing too fast and the inflation rate is increasing, it might choose to mise intorest rates. Lowering or raising interest rates, in and of itself, is neither good nor bad; the rightness of the act depends on the consequenoes. This action is consistent with the A. Kartian principle B. vitus standard 6. destaiogical principle b. poiden nal E. vtiltarian standard
Answers
Lowering or raising interest rates, in and of itself, is neither good nor bad; the rightness of the act depends on the consequences. The action described is consistent with the utilitarian standard. (Option E)
The utilitarian standard refers to the ethical principle of maximizing overall utility or happiness for the greatest number of people. In the given scenario, the Federal Reserve Board's decision to lower interest rates during a slowing economy aims to stimulate economic growth and potentially benefit a larger portion of the population. By reducing borrowing costs, businesses and individuals can access cheaper credit, leading to increased spending, investment, and job creation. This approach aligns with the utilitarian standard as it seeks to maximize the overall well-being and economic prosperity of society.
It's important to note that the other options mentioned (A. Kartian principle, B. vitus standard, 6. demagogical principle, and b. pride nal) are not relevant to the described action and do not capture the utilitarian approach of optimizing societal welfare through interest rate adjustments.
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What capability do smartphones have that telephones with earlier technology lacked?
wireless technology
data services
mobility
voice transmissions
Answers
Answer
data service
Explanation:
edge
In an open-market sale the Federal Reserve _____ government bonds and the supply of bank reserves _____.
Answers
Answer:
Sells government bonds and the supply of bank reserves shrink
Explanation:
golden company had the following accounts and balances at the end of the year. what are total assets at the end of the year?
Answers
The golden company had the following accounts and balances at the end of the year. Accounts Payable $18,000 are total assets at the end of the year.
The assets is a set of collection like stock, gold etc, which has the chance to increase the price of the current market-price.
The accounts payable is the amount that transact after the selling of the gold products. It can include the depositing funds, and card transaction. The importance of asset is basically give strong impact on the IPO time, more investor can invest in the business if they have more assets.
The more assets reflects the good image of the business or company and show it is financially well and earn profitable by the selling more goods or services.
The Accounts Payable $18,000 are total assets at the end of the year.
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The EPA requires the use of precise forms called the
Answers
Answer:
The correct answer is The EPA requires the use of precise forms called? It is a requirement for those working with or owners of transporters and generators of waste materials deemed hazardous to acquire an EPA form 8700-22 called the uniform hazardous waste manifest.
Explanation:
i hope this helps 229 999 0523
A firm is about to conclude an agreement to merge with a publicly traded company. Negotiations have been confidential, and the media has not leaked any details of the potential merger. One of the managers on the negotiating team just learned that a single-source supplier will be raising their prices due to a supply shortage, which will affect product costs and profit margins.
What course of action should the firm take in response to this news?
Immediately sell shares in the publicly traded company before the news is public
Share the new information with the company because it affects the firm's valuation
Contact the local media to leak the details of the potential merger
Wait to disclose the information about the price increase until after the merger
What is a characteristic of vendor managed inventory (VMI)?
It has disadvantages to the retailer because of higher inventory costs.
It can be detrimental to customers due to a higher probability of stockouts
It allows the supplier to plan production in order to keep the retailer stocked with its product.
It follows the traditional approach of placing inventory replenishment orders with its suppliers
Answers
The firm should share the information with the company and wait to disclose it publicly until after the merger. This approach prioritizes transparency and allows for informed decision-making.
In response to the news about the single-source supplier raising their prices due to a supply shortage, the firm should take the following course of action:
1. Share the new information with the company because it affects the firm's valuation: The firm should communicate this information to the publicly traded company with whom they are about to merge. This is important as it directly impacts the product costs and profit margins of the firm. Sharing the information allows both parties to evaluate the potential impact on the merger agreement and make informed decisions.
2. Wait to disclose the information about the price increase until after the merger: It is advisable for the firm to wait until after the merger to disclose the information about the price increase. This is because negotiations have been confidential and leaking this information to the media or other external parties may harm the ongoing negotiations and potentially affect the terms of the merger.
By sharing the information with the company, the firm can ensure transparency and allow both parties to assess the impact on the merger. Waiting to disclose the information publicly until after the merger helps maintain confidentiality and protect the negotiation process.
To summarize, the firm should share the information with the company and wait to disclose it publicly until after the merger. This approach prioritizes transparency and allows for informed decision-making while protecting the confidentiality of the negotiations.
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Specifics
Purchase (Buying) Costs Leasing Costs
Down payment: $2,000 Security deposit: $300.00
Loan payment: $385 for 48 months Lease payment: $295.00 for 48 months
Estimated value at the end of the loan: $6,000.00 End of lease charges: $800.00
Opportunity cost interest rate: 3% Opportunity cost interest rate: 3%
How To
Buying Leasing
Add: Down Payment Calculate and add the total loan amount (monthly loan amount X term in months)
Calculate and add the total loan amount to the down payment (monthly loan amount X term in months) Calculate and add the opportunity cost (multiply security deposit X the interest rate X term in years)
Calculate and add the opportunity cost (multiply down payment X the interest rate % X term in years)
Add end of lease charges
subtract estimated value of car at end of the loan
Group of answer choices
buy: 14720; lease: 14996
buy: 14996; lease:14720
buy: 20000; lease: 15000
Answers
The cost of buying and leasing is: A. buy: 14720; lease: 14996.
Cost of buying and leasing1. Cost of Buying:
Total loan payment= 385× 48 months
Total loan payment= $18,480
Cost of buying = Down Payment + Loan payment + ( Opportunity cost ×Down payment× X term in years ) - Ending loan estimated value
Cost of buying= 2,000 +$18,480 + (2000 × 0. 03× 4 years ) - 6,000
Cost of buying= 2,000 + $18,480+240-6,000
Cost of buying= 14,720
2. Leasing:
Total Lease payment=295× 48 months
Total lease payment= $14,160
Leasing= Total lease payment + End of lease charges + ( Security deposit × Opportunity cost× X term in years))
Leasing= $14,160+ 800 + (300 ×0.03×4)
Leasing= $14,160+ 800 +36
Leasing=14996
Therefore the cost of buying and leasing is: A. buy: 14720; lease: 14996.
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What is interpersonal?
Answers
Answer:
having the ability to relate to and connect with others
Now that Amazon does collect sales tax in most states, what other loopholes has Amazon found to evade other taxes?
(In depth response)
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Another area in which Amazon has found another tax loophole in order to evade taxes is:
They make use of foreign based companies to receive payments from customers in another country.What is a Tax Loophole?This refers to the legal clauses which the rich people and corporations exploit in order to evade paying tax or paying as much as other people.
One tax loophole which is being used by Amazon to evade tax is the use of foreign based companies to receive payments from customers in another country and bypass HMRC.
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Which of the following kinds of bonds earn interest?
I. Corporate bonds
II. Bonds selling at a discount
III. Municipal bonds
a.
I and II
b.
II only
c.
I and III
d.
I, II, and III
Answers
it d
The other guy is correct
Explanation:
The following kinds of bonds earn interest.
Corporate bondsII. Bonds selling at a discountIII. Municipal bondsThe correct option is D.
What is a bond?Governments and enterprises issue bonds to raise funds. By purchasing a bond, you are making a loan to the issuer, who agrees to repay the face amount of the loan on a particular date and to make periodic interest payments along the way, usually twice a year.
Bonds are considered safer than other financial instruments such as equities, and you can count on the income if the issuer does not default on their debt. There are many distinct sorts of bonds, each with its own payment schedule and minimum investment. The majority of bonds have set coupon rates. You must pay tax on the interest earned on the bond until it was reissued.
Thus, the ideal selection is option D.
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What should you do to help protect your copyright?
Answers
2. Register your work. ...
3. Keep or register supporting evidence. ...
4. Agreement between co-authors.
Consider the monopolistically competitive market structure, which has some features of a competitive market and some features of a monopoly. Complete the following table by indicating if each attribute characterizes a competitive market, a monopolistically competitive market, both, or neither. Check all that apply.
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The characteristics of a competitive market, and a monopolistically competitive market are:
Price is equal to marginal cost - competitive market,Easy entry and exit - both Few sellers - neither Homogeneous product - competitive market,How are competitive and monopolistically competitive markets related?Both competitive and monopolistically competitive markets are easy to enter and exit from but only competitive markets have their pruice equal to their marginal cost.
The goods in a monopolistically competitive market is slightly variated while those in competive markets are homogenous.
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Why can most people in Hospitality and Tourism careers succeed with a secondary education as their highest level of education? Most workers will start advanced jobs with this level of education. Most workers are working on a seasonal basis in Hospitality and Tourism careers. Most workers receive on-the-job training to learn what they need to know. Most workers take post-secondary classes to work in Hospitality and Tourism careers.
Answers
Most people in Hospitality and Tourism careers get success with secondary education only as they receive on-job training to learn what they need to know.
What is a Hospitality and Tourism career?Hospitality and Tourism career jobs involve providing planning, management, food, recreation, travel, and similar services. These jobs provide higher monetary perks.
No minimum education is required to get a job in a hospitality and tourism career. This industry values experience more than education.
People are more likely to get success in hospitality and tourism as they learn and update themselves while doing the job. On-job training is an essential advantage of these careers.
Therefore, the correct option is c.
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1, A specialized computer used to collect, store, and report all the information about a sales transaction.
2. The report that summarizes the cash and credit card sales of a point-of-sale terminal.
3. The process of preparing a batch report from a point-of-sale terminal.
4. A special journal used to record only cash receipt transactions.
5. A cash discount on a sale taken by the customer.
6. The amount a business receives from the sale of an item of merchandise.
7. A subsidiary ledger containing all accounts for charge customers.
8. A special journal used to record only sales of merchandise on account.
9. A sale in which the customer pays for the total amount of the sale at the time of the transaction.
10. A report of credit card sales produced by a point-of-sale terminal.
11. A tax on a sale of merchandise or services.
12. The amount a business adds to the cost of merchandise to establish the selling price.
13. A listing of customer accounts, account balances, and total amount due from all customers.
Answers
Answer:
1. Point-of-sale (POS) terminal.
2. Terminal summary.
3. Batching out.
4. Cash receipts journal.
5. Sales discount.
6. Selling price.
7. Accounts receivable ledger.
8. Sales journal.
9. Cash sale.
10. Batch report.
11. Sales tax.
12. Markup.
13. Schedule of accounts receivable.
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, account payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB).
Thus, it's the field of accounting that involves specific processes such as recording, summarizing, analysis and reporting of financial transactions with respect to business operations over a specific period of time. Financial experts or accountant uses either the cash basis or accrual basis of accounting. Some of the terminologies used in financial accounting with their description respectively include the following;
1. Point-of-sale (POS) terminal: a specialized computer used to collect, store, and report all the information about a sales transaction.
2. Terminal summary: the report that summarizes the cash and credit card sales of a point-of-sale terminal.
3. Batching out: the process of preparing a batch report from a point-of-sale terminal.
4. Cash receipts journal: a special journal used to record only cash receipt transactions.
5. Sales discount: a cash discount on a sale taken by the customer.
6. Selling price: the amount a business receives from the sale of an item of merchandise.
7. Accounts receivable ledger: a subsidiary ledger containing all accounts for charge customers.
8. Sales journal: a special journal used to record only sales of merchandise on account.
9. Cash sale: a sale in which the customer pays for the total amount of the sale at the time of the transaction.
10. Batch report: a report of credit card sales produced by a point-of-sale terminal.
11. Sales tax: a tax on a sale of merchandise or services.
12. Markup: the amount a business adds to the cost of merchandise to establish the selling price.
13. Schedule of accounts receivable: a listing of customer accounts, account balances, and total amount due from all customers.
Which type of promotion would you use to attract customers quickly with the help of coupons, samples, and free gifts?
(blank) is a way of promoting your products and attracting customers quickly with the help of free coupons, vouchers, samples, and gifts.
Answers
Answer:
Sales promotion
Explanation:
Sales promotions refer to the persuasive activities of convincing potential customers to buy a product. The objective of a sales promotion is to boost sales volumes. The tactics used in a sales promotion are designed to have a short term effect. However, a business may acquire long-term customers through sales promotion techniques.
Sales promotion may focus on customers by enticing them to buy. They may also target traders by encouraging them to sell more. The techniques used in a sale promotion include Money off coupons, Competitions, Free gifts, Loyalty cards, Discount vouchers, among others.
Answer:
Sales promotion may focus on customers by enticing them to buy. They may also target traders by encouraging them to sell more. The techniques used in a sale promotion include Money off coupons, Competitions, Free gifts, Loyalty cards, Discount vouchers, among others.
Explanation:
This spreadsheet was created to track the money different employees earned in bonuses. The creator used
numbers and formulas to make the document efficient so that it could change as the bonus amounts changed.
What is most likely appears in the formula bar when B6 is selected?
A $total
B $112
C=MAX(B2:B5)
D =AVERAGE(B2:B5)
Answers
The formula that most likely appear in the formula bar of the spreadsheet when B6 is selected is =AVERAGE(B2:B5). Thus, the correct answer is option (D).
What is a spreadsheet?A spreadsheet is a computer programme for organizing, calculating, and storing data in tabular form. Spreadsheets were created as digital counterparts to traditional paper accounting spreadsheets.
The central tendency of a bunch of numbers in a statistical distribution—which is where the center is located—is measured by the AVERAGE function. The following are the top three central tendency measures:
Average: The arithmetic mean is determined by adding a collection of integers, dividing by their count, and then taking the result.The middle number in a set of numbers is called the median. The values of half the numbers are higher than the median while the values of the other half are lower than the median.The number that appears the most frequently among a set of numbers is the mode.Therefore, option D is correct.
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which of the following is not an employability skill?
1. ethical behavior
2. teamwork
3. technology
4. sales
Answers
Sales is not an employability skill. Employability skills are the general skills, personal qualities, and attitudes that are necessary for success in any job or career. They include things like communication, problem-solving, teamwork, time management, leadership, adaptability, and ethical behavior, among others.
Sales, on the other hand, refers to a specific job function that involves selling products or services to customers. While sales may require certain skills such as communication, negotiation, and customer service, it is not considered a general employability skill.
Social Security and Medicare taxes are two types of
taxes.
O A. employment
O B. sales
O C. property
D. income
Answers
Answer:
Income taxes
Explanation:
Those are two type of income taxes and i know this because my grandma gets those lololol..no joke though
How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
Businesses are important to a free enterprise system because they?
Answers
Answer:
A.provide consumers with goods and services
Multiple choices
A.provide consumers with goods and services
B. make legal decisions related to property rights.
C. prevent entrepreneurs from taking to many risks.
D. enforce economic regulations to protect citizens.
Explanation:
Production of goods and services is done by the private sector in a free enterprise system. A majority of the factors of production belong to the private sector. The government does not actively participate in economic activities.
In the free enterprise system, the private sector produces and distributes goods and services in the economy. In other words, all the goods and services consumed in a free enterprise system are produced by the private sector.
You borrowed $1,690 for 5 1/2 years a at 5.7% compounded semi annually. What total will you pay back?
Answers
Answer: You will pay $2,302 back.
Explanation:
Discuss what a small business owner should consider when deciding upon the location for their business
Answers
Answer:
depending on the place you can consider the number of people who go to it and on that side, the fame it would have for its service, and greater economic progress.
Explanation:
How much will $200 in new spending change equilibrium income if the marginal propensity to save is 0.2
Answers
Answer:
$250
Explanation:
1/MPS=1/(1-0.02)=1.25; 1.25x$200= $250
Which type of account (real, personal, or nominal) includes the following expenses of a business?
Expenses like rent, transportation, and advertising are part of a business’ ______
account, because they are fictitious.
Answers
Answer: Nominal account
Explanation:
Expenses like rent, transportation, and advertising are part of a business (Nominal) account, because they are fictitious.
Personal accounts are the accounts that have to do with individuals, or businesses. A real account is an account that isn't closed when the accounting period ends. The bqlnaces in the real account are carried to the following period. An example of this is cash.
Nominal account is an account that has a zero beginning balance at the start of the year. This is because when an accounting year ends, the nominal account will be closed.
A perfectly competitive firm not able to sell all it wants at the market equilibrium
price. Therefore, it has no incentive to increase prices (sacrificing revenues and
therefore profits) to increase sales. Because other firms are selling nearly identic
products (i.e., goods are homogeneous) at the market equilibrium price, trying to
raise the price would lead to the firm gaining all its sales.
Answers
A perfectly competitive firm is not able to sell all it wants at the market equilibrium price. Therefore, it has no incentive to increase prices (sacrificing revenues and therefore profits) to increase sales. Because other firms are selling nearly identic products (i.e., goods are homogeneous) at the market equilibrium price, trying to raise the price would lead to the firm gaining all its sales.TRUE
In economic theory, perfect competition occurs when all companies sell identical products, market share does not influence price, companies are able to enter or exit without barriers, buyers have perfect or full information, and companies cannot determine prices.In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition.
Perfect competition is an economic term that refers to a theoretical market structure in which all suppliers are equal and overall supply and demand are in equilibrium. For example, if there are several firms producing a commodity and no individual firm has a competitive advantage, there is perfect competition.The three primary characteristics of perfect competition are (1) no company holds a substantial market share, (2) the industry output is standardized, and (3) there is freedom of entry and exit. Efficient market equilibrium under perfect competition is when marginal revenue equals marginal cost.
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In Virginia, government agencies that address market failures include the Attorney General,
the Department of Labor, and the Department of Environmental Quality. true or false ?
Answers
Answer:
The answer is False.
Explanation:
The office of the Attorney General in Virginia primarily responsible for attending to matters of the state such as:
Representing the governor and the state in legal matters; Consulting for members of the Virginia General Assembly (VGA) and local government officials Acting as the defense counsel in legal suits filed against the stateDefending the constitution of the stateThe department of Labour on the other hand is tasked with the following mission to position Virginia as a conducive place to live work or run a business. It tries to achieve this by adopting and promoting international best practices.
Department of Environment of course is focused on ensuring that companies and individuals uphold the law in relation to the environment.
Managing the stability of inflation, employment and interest rates by the use of monetary policies.
Cheers
Although mobile digital technologies offer a lot of benefits , not the least of which is geo - location capabilities which allow for very specific and individualized targeting , the technology does have some disadvantages . Which of the following is not considered a disadvantage ?
aThe overwhelming majority of mobile device users do not " share " what they see
bSmall screens are limiting
c Differences in iOS and Android operating systems may not render identical content as intended by the marketer
dViewers are on the move
e popularity is likely to lead to clutter
Answers
The option that is not considered a disadvantage of mobile digital technologies is: a. The overwhelming majority of mobile device users do not "share" what they see.
This is not considered a disadvantage because the fact that users do not share what they see does not directly affect the technology itself. It may impact the potential reach or virality of content, but it is not a specific drawback of mobile digital technologies.
The other options mentioned do represent disadvantages:
b. Small screens are limiting: Mobile devices generally have smaller screens compared to other devices, which can restrict the display of content and affect user experience.
c. Differences in iOS and Android operating systems may not render identical content as intended by the marketer: Inconsistent rendering of content across different operating systems can lead to discrepancies in how the content is displayed and experienced by users.
d. Viewers are on the move: Mobile users are often in motion, which can create challenges in capturing and maintaining their attention for marketing purposes.
e. Popularity is likely to lead to clutter: The widespread popularity of mobile devices and their extensive use for advertising can result in information overload and increased competition for consumer attention.
Therefore, option a is not considered a disadvantage, while options b, c, d, and e are recognized as disadvantages of mobile digital technologies.
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a proof of the equality of debits and credits in a general ledger.
Answers
Correct reply is A trial balance is a proof of the equality of debits and credit in a established ledger.
To take a look at the arithmetical accuracy of books of account, path stability is prepared. Both the aspects of trial stability i.e. debit and credit score need to have the equal total. This equality proves that the books are arithmetical correct. Trial stability can be organized on a ordinary intervals.
Where do debits equal credits?For each and every transaction, a debit is recorded with a corresponding credit. Multiple money owed can be affected by way of a single transaction, however there need to be at least two bills concerned and debits will always equal credits.
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https://brainly.com/question/14558253#SPJ4Making sure that data collected on customer trends is organized is one way technology can help a business.
True
False
Answers
Answer:
True
Explanation:
I would say this statement in TRUE. Here is my reasoning: Data collection is information learned by a business. For example: If you are a moving company and you paid for a TV commercial. Wouldn't you like to know how many people are calling you for moves based on that commercial? Of course. So asking your customers "where did you hear about us?" and hearing "The TV commercial" can identify that not only is your commercial working but that it is paying for itself with the business coming your way. Data collected is a GREAT way to run a business successfully.
Advantage 2 Starting a business can be risky, but it depends on the opportunity of the entrepreneur's time. If they would be unemployed otherwise, then what looks like risk may actually be a benefit or a reward.
Answers
Answer: Running a business or start up requires a lot. Asides capital, the individual would gave to learn how to keep a business running day instead and also ensuring the system runs well.
Explanation:
Running a business or start up requires a lot. Asides capital, the individual would gave to learn how to keep a business running day instead and also ensuring the system runs well. Despite the good things that come with owning a business, it actually requires a lot of work. In most cases being unemployed and not starting a business could be better than starting one because running a business would take everything in you, coupled now how things are evolving, the business owner has to be proactive, and enlightened severally and seek ways to bring innovate