Sally puts $8,500 into a savings account that pays out 4% interest annually. Sally is a single taxpayer whose only other income this year is $120,000 in ordinary income from her salary. However, she is not considered a high income taxpayer.
The additional amount of tax Sally must pay on the interest income from the savings account is
Answers
The additional amount of tax Sally must pay on the interest income = $81.60.
To calculate the additional amount of tax Sally must pay on the interest income from the savings account, first determine her taxable interest income and apply the appropriate tax rate for the given tax year.
The interest income from the savings account is $8,500 * 4% = $340.
In 2020, the tax rates for ordinary income were as follows for single taxpayers whose income is between $85,526 and $163,300 is 24%
Sally's ordinary income from her salary is $120,000, which falls into the 24% tax bracket, we can assume that her marginal tax rate is 24%.
The additional amount of tax Sally must pay on the interest income would be $340 * 24% = $81.60.
Thus, Sally would have to pay an additional amount of $81.60 in taxes on the interest income from the savings account.
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Sally puts $8,500 into a savings account that pays out 4% interest annually. Sally is a single taxpayer whose only other income this year is $120,000 in ordinary income from her salary. However, she is not considered a high-income taxpayer. (Assume the tax year is 2020).
What is the additional amount of tax Sally must pay on the interest income from the savings account?
Related Questions
(03.02 LC)
Which of these might decrease the length of a mortgage loan?
Property taxes
O Insurance
O Amount owed
Collateral
Answers
Answer:
D.) Collateral
Explanation:
Tbh I'm not confident on this choice, but real estate basically is just a fancy term for property, for those who don't know. A collateral is a piece of property that can be sold by the lender to recover all or part of a loan if the borrower fails to repay. So with that being said, the only logical choice in my opinion would be D, or Collateral.
Collateral might decrease the length of a mortgage loan. As it minimises the risk for the mortgage loan.
What is mortgage loan?Mortgage loan is the fund that is provided to the lender against the immovable assets or property, or collateral to the Borrower. The lender used to keep the assets until their loan is repaid by the person.
Thus, option C is correct.
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5 steps in developing a research instrument
Answers
Answer:
Explanation:
Step 1 – Locating and Defining Issues or Problems. ...
Step 2 – Designing the Research Project. ...
Step 3 – Collecting Data. ...
Step 4 – Interpreting Research Data. ...
Step 5 – Report Research Findings.
Answer:Step 1: locatingOr defining issues problems problems
Step 2: designing the research project
Step 3: collecting data
Step 4: interpreting research data
Step 5: Report research findings
Explanation: it is there as soon a u look it up ! Hope that helps
Camille Wright Miller,an experienced consultant,says effective leaders often
A) do not communicate with emotion.
B) mirror the style of other people.
C) overcome communication bias with the people they meet.
D) are naturally persuasive.
Answers
According to Camille Wright Miller, an experienced consultant, effective leaders often- C. overcome communication bias with the people they meet.
What this mean?This means that they are aware of their own biases and take steps to ensure that they are not negatively impacting their communication with others.
They are able to approach people with an open mind and listen actively to their perspectives, which helps them to build trust and rapport with their teams. While it is not necessary for leaders to completely suppress their emotions, they should be mindful of how their emotions may be perceived by others and adjust their communication style accordingly.
Ultimately, effective leaders are able to communicate clearly and persuasively, which allows them to inspire and motivate their teams towards shared goals.
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Since water transportation is so much slower than other modes, why do companies choose it?
Water transportation is unaffected by delays for maintenance, scheduling, and weather, making it far more reliable.
Some companies might think it's worth the lost time when they are shipping potentially dangerous products.
The environmental impact of water transportation is lower, so companies can justify its use.
Some companies prioritize cost as their overriding concern for their shipping requirements.
Answers
Answer:
i think its d or maybe a
Explanation:
Answer:
ah
Explanation:
suppose one can purcahse a basket of goods costs 10,000 in 2009, and that same basket of goods now costs 11,200. please calculate the consumer price index for the current period
Answers
Divide the price of the Market Basket for the interest-bearing year by the price of the Market Basket for the base year, then multiply the result by 100 to get the consumer Price Index.
Meaning of the index formulaThe INDEX function extracts a value from a table or range, or a reference to a value, and returns it. Play. The INDEX function can be applied in one of two ways: See Array form if you wish to return the value of a specific cell or array of cells. See Reference form if you want to give a reference to a set of cells.
What will the July 2022 CPI be?After increasing by 1.3 percent in June and 1.0 percent in May, the Consumer Price Index for All Urban Consumers was constant in July 2022 (seasonally adjusted).
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in the book Romeo and juliet what is Juliet's dads name
Answers
Answer:
Lord Fulgencio Capulet
Explanation:
Which of the following files allows us to retrace a material requirement upward in the product structure through each level, identifying each parent item that created the demand?
a. Planning bill of materials file
b. Modular bill of materials file
c. Super bill of materials file
d. Exception reprot file
e. Peg record file
Answers
The files allows us to retrace a material requirement upward in the product structure through each level, identifying each parent item that created the demand is Peg record file.
Usually referred to as the bill of materials, product structure is a hierarchical breakdown of a product (BOM). BOM management may become unmanageable when businesses adapt to the diverse tastes of their customers and as derivative items expand to fit their specific settings.
In the event that a corporation, for instance, has a bakery division and a clothes division, each of those product-based divisions will have its own sales department, marketing department, production department, and other functional groupings.
Hence the correct option is E
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Imagine that you’re a dental hygienist. While cleaning a client's teeth you ask what flavor toothpaste to use and they say "orange," but you accidentally use cinnamon. The next day the client writes a bad review online, saying you didn't listen to them. Bad reviews are bad for your business. You need to figure out a way to communicate an apology to the client. How will you reach out and what will you say?
Answers
Answer: try finding your client online
Explanation:
most often than not, a person with become angry when not getting their way, so try to explain the you client that you are human, and that we all make mistakes
A printing company manufactures notebooks of various sizes. The company manufactures 3 000 notebooks each day. Should the company use process costing or job order costing ?
Answers
Based on the information provided, the printing company manufacturing 3,000 notebooks each day would be better suited to use process costing.
Process costing is a costing system used when a company produces large quantities of identical or similar products in a continuous flow. It is particularly appropriate when the products are indistinguishable and go through a series of standardized production processes. In this case, the printing company manufactures notebooks of various sizes, which indicates that they are producing a standardized product. The production process for notebooks is likely to be a continuous flow with standardized steps such as printing, binding, and cutting. Each day, a large number of notebooks are produced, suggesting a high level of repetition and mass production. Process costing is designed to allocate costs to each unit produced in continuous production process, making it suitable for calculating the average cost per unit. The costs are spread across the entire production process, enabling the company to determine the cost per unit of the notebooks based on the total costs incurred. In contrast, job order costing is used when products are unique or customized, and costs are tracked for each specific order or job. This is not applicable in the case of the printing company manufacturing a large volume of standardized notebooks. Therefore, considering the high volume and standardized nature of the production process, the printing company should use process costing to accurately allocate costs and determine the average cost per unit of their notebooks.
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Costs are transferred, along with the units, from one work in process inventory account to the next in a process costing system. True or False.
Answers
True,In a process costing system, costs are transferred along with the units from one work in process (WIP) inventory account to the next.
This is because a process costing system is used when products are produced in large quantities through a series of sequential production processes, and the cost of each process is allocated to the products that pass through it.
As the products move from one process to another, their cost is transferred from one WIP inventory account to the next.
For example, the cost of materials and labor for a batch of products may be recorded in the WIP inventory account for the first process.
When the products move to the next process, the cost of the materials and labor is transferred from the first WIP inventory account to the second WIP inventory account.
The cost of each process is then calculated and allocated to the units that pass through it, using a predetermined overhead rate.
At the end of the production process, the total cost of the products is calculated and divided by the total number of units produced to determine the unit cost of the products.
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12.(Liquidity analysis) The most recent
balance sheet of Raconteurs, Inc., (in millions) is found
here: Current assets
Cash and marketable securities
$10.2
Accounts
Answers
Raconteurs, Inc. has a current ratio of 1.96. The company has sufficient current assets to cover its current liabilities.
The most recent balance sheet of Raconteurs, Inc., (in millions) is found here: Current assets Cash and marketable securities $10.2 Accounts: Receivable 4.3 Inventory 9.7 Prepaid expenses 3.5 Total current assets$28.2Total assets$66.4Total current liabilities$14.4 Total liabilities $35.6 Total equity $30.8
The current ratio is a metric used to determine a company's liquidity. This ratio shows how well a company can pay its current debts and obligations using its current assets, making it a liquidity measurement. A ratio of 1 or greater is normally acceptable in order to demonstrate a company's ability to meet its current debt obligations. The formula for the current ratio is Current Ratio = Current Assets / Current Liabilities. Current Assets = $28.2 Current Liabilities = $14.4 Therefore, the current ratio is: Current Ratio = $28.2 / $14.4 = 1.958333 So,
Raconteurs, Inc. has a current ratio of 1.96. The company has sufficient current assets to cover its current liabilities.
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Situation: Imagine you are in a conflict with a coworker over various roles and responsibilities. The situation has become quite hostile, and you are worn that it is affecting your job performance. You go to your manager and ask for help with the situation. Your manager suggests that you research effective communication skills, particularly in t area of listening and critical thinking, and provide a brief presentation to the entire team in next week's meeting. Instructions In Microsoft PowerPoint, create a 5 to 8 slide presentation in which you address the following questions: 1. What is effective listening? 2. How is listening different from hearing? 3. What is active listening? 4. What are the most common barriers to effective listening? 5. Identify at least three strategies for effective listening. 6. How can effective listening be used to resolve conflict?
Answers
In this situation, your manager has suggested that you research effective communication skills, particularly in the areas of listening and critical thinking, and provide a brief presentation to the entire team in next week's meeting. Your presentation should address the following questions:
1. What is effective listening?
Effective listening refers to the ability to fully understand and interpret the message being communicated by another person. It involves actively paying attention to the speaker, comprehending their message, and responding appropriately.
2. How is listening different from hearing?
Hearing is a sensory process that allows us to perceive sound, while listening goes beyond the physical act of hearing and involves focusing on and comprehending the message being conveyed. Listening requires concentration and mental processing to understand the meaning and intent behind the words.
3. What is active listening?
Active listening is a communication technique that involves fully engaging with the speaker and showing genuine interest in what they are saying. It includes maintaining eye contact, nodding to indicate understanding, and asking clarifying questions to ensure accurate comprehension.
4. What are the most common barriers to effective listening?
There are several barriers to effective listening, including distractions (such as noise or personal concerns), preconceived notions or biases, lack of interest, and emotional or physical barriers that may hinder concentration.
5. Identify at least three strategies for effective listening.
- Maintain eye contact and non-verbal cues to show attentiveness and interest.
- Avoid interrupting the speaker and wait for them to finish before responding.
- Paraphrase and summarize the speaker's message to ensure understanding and demonstrate active engagement.
6. How can effective listening be used to resolve conflict?
Effective listening can be used to resolve conflict by fostering better understanding between parties. By actively listening to the concerns and perspectives of others, you can gain insight into their point of view and work towards finding common ground and potential solutions. It helps to reduce misunderstandings, build empathy, and promote constructive dialogue.
In conclusion, effective listening is essential for effective communication and resolving conflicts. By practicing active listening and employing strategies like maintaining eye contact and summarizing the speaker's message, you can improve your communication skills and enhance collaboration within your team.
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Made by Hand Company makes custom furniture of all kinds. The firm has evolved into a big business due to quality and innovative work. Recently, top management asked company departments to list and evaluate the kinds of socially responsible efforts conducted internally and externally in the business and to list negative occurrences that supervisors observed. Top management is essentially conducting a(n)
Answers
Answer:
The right answer is "Social audit".
Explanation:
A comprehensive assessment of the achievements or advancements of something like a corporation to become a community development organization, favorable and unfavorable measures have been taken.As something of an indication of such a particular consequence that should be included under supervisory review metrics, this same quantity of toxins a company releases further into its surroundings.Thus the above is the correct answer.
luker corporation uses a process costing system. the company had $163,500 of beginning finished goods inventory on october 1. it transferred in $840,000 of units completed during the period. the ending finished goods inventory balance on october 31 was $161,200. the entry to account for the cost of goods manufactured during october is:
Answers
As per the inventory balance, the entry to account for the cost of goods manufactured during October is not yet sold.
At the end of October, the company had an ending finished goods inventory balance of $161,200. This balance represents the value of the units that were completed during the month but were not yet sold by the end of the month. The company will carry forward this inventory balance to the next period.
To account for the cost of goods manufactured during October, the company will use the following entry:
Debit Finished Goods Inventory: Beginning Balance $163,500
Debit Cost of Goods Manufactured $677,300
Credit Finished Goods Inventory: Ending Balance $161,200
The debit to finished goods inventory at the beginning of the period represents the value of the units that were completed in the previous period but were not yet sold.
The debit to cost of goods manufactured represents the total cost of the units that were completed during the month.
Finally, the credit to finished goods inventory at the end of the period represents the value of the units that were completed during the month but were not yet sold.
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what is the future value of $20,000 invested for 15 years at 5ompounded annually? (round to the nearest cents)
Answers
Investments are referred to by the words present value and future value. And here in this case the future value estimated to the round off is $39,506.38.
The money invested now represents the present value, while the total sum after taking the compounding impact of interest into account represents the future value, or the value of money in the future.
We can use the formula for future value of a present sum with compound interest:
FV = P*(1+r)^n
Where:
P = Present Value = $20,000
r = Interest Rate = 5% per year = 0.05
n = Number of Years = 15
Substituting the given values into the respective formula, we get:
FV = $20,000*(1+0.05)^15
FV = $20,000*(1.05)^15
FV = $20,000*1.975319
Therefore, the future value of $20,000 invested for 15 years at 5% compounded annually is approximately $39,506.38 (rounded to the nearest cent).
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the purchase of multiple plant assets for one purchase price is called a ______ purchase.
Answers
the purchase of multiple plant assets for one purchase price is called a blank purchase.
Answer:
(Plant/Current) or also called (lump-sum, group, bulk, or basket purchase)
Explanation:
Found the PDF with all the answers
6. He is not a skilled worker. He
doesn't ............... much.
win
gain
earn
pay
afford
Answers
Answer:
earn .
He is not a skilled worker. He doesn't earn much.
Explanation:
He doesn't earn much.....
private enterprise is run mainly to?
Answers
What is a source of equity financing?
A. securing short-term loans from a family member
B. receiving trade credit from suppliers
C. selling personal assets to raise funds
D. securing government loans
E. borrowing money from friends
Answers
Which represents the greatest acceleration?
200 m/s
200 cm/s2
0.020 km/s2
0.002 km/s2
Answers
Answer:
(3) 0.020km/s²
Explanation:
The option with greatest acceleration is the one with greatest magnitude.
To do this, we have to analyse each if the given options.
1. 200m/s.
This doesn't represent acceleration because acceleration is not measured in m/s. Rather, this option is a measure of velocity..
2. 200 cm/s²
[Convert to m/s²]
= 200 / 100 m/s²
= 2 m/s²
3. 0.020 km/s²
[Convert to m/s²]
= 0.020 * 1000m/s²
= 20m/s²
4. 0.002 km/s²
[Convert to m/s²]
= 0.002 * 1000 m/s²
= 2m/s²
By comparison options 1 through 4, option (3) has the highest magnitude of acceleration.
Hence, 0.020km/s² is the highest acceleration
Today, management is becoming more progressive. Many managers are being educated not to ________ employees.
Answers
the product/service component of the feasibility study typically includes which of the following aspects?
Answers
The product/service component of a feasibility study typically includes aspects such as market analysis, product/service description, competitive analysis, pricing strategy, and potential customer demand.
The product/service component of a feasibility study focuses on evaluating the viability and potential success of the proposed product or service. It involves several key aspects that need to be assessed and analyzed.
Market analysis is an essential part of the product/service component. It involves evaluating the target market, identifying potential customers, understanding market trends, and assessing market demand. This analysis helps determine the market potential for the product or service.
A thorough product/service description is necessary to provide a clear understanding of what the offering entails. This includes detailing its features, benefits, unique selling points, and any intellectual property rights associated with it.
Competitive analysis examines the existing competition in the market. It involves identifying direct and indirect competitors, analyzing their strengths and weaknesses, and assessing the market share they hold. This analysis helps identify opportunities and challenges in the competitive landscape.
Pricing strategy is another crucial aspect. It involves determining the appropriate pricing model for the product or service, considering factors such as production costs, market demand, competition, and perceived value.
Assessing potential customer demand is essential to understand the target audience's needs, preferences, and willingness to adopt the product or service. This analysis helps gauge the market's acceptance and the potential customer base.
By evaluating these aspects within the product/service component, a feasibility study aims to assess the viability and potential success of the proposed offering, providing valuable insights for decision-making and future planning.
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The product/service component of the feasibility study should include which of the following aspects?
A. Stage of development
B. Competition
C. Market penetration
D. Cost forecast
is illuminati confirmed
Answers
Answer:
no because there is no prove confirm its place in our world.
Explanation:
i like cheese
Libel is a defamatory or hurtful remark told about someone to others, and slander is when this remark or comment is broadcast over the TV, radio, printed in a publication, or forwarded to others on the Internet.
Answers
Answer:
This is false.
Explanation:
The statement in the question interchange the meanings of the two terms. The correct definitions are therefore given as follows:
Libel is can be described as a written or published false statement about another person that damages their reputation unjustly.
Slander refers a spoken false statement about another person that damages their reputation unjustly.
Based on the definitions above, the statement in the question can be correctly rewritten as follows:
Slander is a defamatory or hurtful remark told about someone to others, and libel is when this remark or comment is broadcast over the TV, radio, printed in a publication, or forwarded to others on the Internet.
Answer:
FALSE
Explanation:
i got it right
please help me with this match the column if i get perfect answer then i will give brainliest
Answers
Answer:
what do you need help on
Explanation:
Click this link to view O*NET’s Work Activities section for Licensing Examiners and Inspectors. Note that common activities are listed toward the top, and less common activities are listed toward the bottom. According to O*NET, what are some common work activities performed by Licensing Examiners and Inspectors? Check all that apply. working directly with the public evaluating information staffing organizational units drafting technical devices interacting with computers getting information
Answers
Answer:
Licensing Examiners and Inspectors examine, evaluate, and investigate eligibility for, conformity with, or liability under licenses or permits.. Here is what a typical day’s work for a Licensing Examiner and Inspector looks like: Issue licenses to individuals meeting standards. Collect fees for licenses.
Explanation:
Answer: A B E F
Explanation:
The adjusted trial balance of corporation at december 31 shows that sales revenue for the year was and other revenue was. Cost of goods sold for that same period was , while other expenses totaled. The corporation declared and paid dividends of during the year. The balance of retained earnings before closing entries was
Answers
The record of the entry to close out the revenue accounts will be as debit sales revenue (525,000), debit other revenue (57,000), and Credit Retained (582,000).
Revenue accounts' debit entries cover sales-related allowances, discounts, and refunds. Credits boost the balance while debits lower the net revenue in revenue-type accounts via the returns, discounts, and allowance accounts. ADVANCE KNOWLEDGE.
Debit entries indicate a decline in the revenue accounts in the income statement, whereas credits indicate an increase in the account. The foundation of double-entry accounting is the idea of debits and offsetting credits.
Retention Credit is the sum indicated in the applicable Participant's Retention Agreement that will be credited to the Participant's Retention Account as a "Deferred Compensation Account" (as that term is defined in the applicable Retention Agreement).
Businesses that kept paying staff while closed due to the COVID-19 epidemic or saw severe drops in gross receipts from March 13, 2020, to December 31, 2021, are eligible for the Employee Retention Credit (ERC), a refundable tax credit.
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NOTE: The question given on the portal is incomplete. Here's the complete question:
QUESTION: The adjusted trial balance of Arctic Corporation at December 31 shows that sales revenue for the year was $ 525,000 and other revenue was $ 57,000. Cost of goods sold for that same period was $ 265,000, while other expenses totaled $ 195,000. The corporation declared and paid dividends of $ 10,000 during the year. The balance of retained earnings before closing entries was $ 490,000. Record the entry to close out the revenue accounts.
what is net income and how do you calculate it?
Answers
Answer:
net income is the amount an individual earns after subtracting taxes and other deductions from gross income.
CALCULATION
-----------------------------------------++---------------------
the amount of revenue left after subtracting all expenses, taxes and costs.
when illicit funds have entered the banking system undetected and appear to be legitimate, the funds are referred to as: qid: 3571161 mark for review a structured b layered c integrated d properly washed
Answers
Option (C). Integrated
What is Integration?
Integration is a term used to define illegal funds that look legitimate. The first stage of money laundering is structuring. During this stage, small amounts of funds are deposited into banking systems to avoid detection. Then layered. Layering moves funds in ways that make it difficult to identify their origin. The final stage is the integration. This happens when the funds ultimately appear to come from legitimate sources.
Why is the integration very important?
This integration ensures that all systems work together in harmony, improving productivity and data consistency. Furthermore, it aims to solve the complexities associated with increased communication between systems in order to reduce the impact of changes that these systems may have.
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Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,200, 13,000, 15,000, and 16,000 units, respectively. All sales are on credit. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. The ending finished goods inventory equals 20% of the following month’s unit sales. The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.50 per pound. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours. The variable selling and administrative expense per unit sold is $1.40. The fixed selling and administrative expense per month is $63,000. 5. If 76,000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?
Answers
Raw materials needed for July production = 8,200 units x 5 lbs/unit = 41,000 lbs
Ending raw materials inventory = 10% of August production needs = 10% x 76,000 lbs = 7,600 lbs
Total raw materials needed in July = 41,000 + 7,600 = 48,600 lbs
Purchases in July = 48,600 - 41,000 (raw materials needed for July production) = 7,600 lbs