Samir is single and 55 years of age, and has gross income of $58,000 in 2019. His expenses are as follows: Alimony paid (divorced in 2013) $15,000; Charitable contributions 3,000 Contribution to a traditional IRA 5,000, Interest on home mortgage and property taxes on residence 6,000: and State income tax 3,200. What is Samir's AGI for 2019? A.$19,800, B.$30,000. C$35,000. D.S38,000 E.None of these answers.
Answers
Samir's adjusted gross income for 2019 is $25,800 (option e).
His expenses are as follows:Alimony paid (divorced in 2013) $15,000Charitable contributions 3,000Contribution to a traditional IRA 5,000Interest on home mortgage and property taxes on residence 6,000State income tax 3,200.To calculate the AGI of Samir for the year 2019, we need to calculate the sum of gross income and add/deduct all the below-given expenses/credits. Alimony paid (divorced in 2013) $15,000Charitable contributions 3,000Contribution to a traditional IRA 5,000Interest on home mortgage and property taxes on residence 6,000State income tax 3,200 Now, the AGI will be calculated as follows:
Gross Income$58,000
Less: Alimony paid (divorced in 2013)$15,000
Less: Contribution to a traditional IRA$5,000
Less: Charitable contributions$3,000
Less: Interest on home mortgage and property taxes on residence$6,000
Less: State income tax$3,200
So, the AGI of Samir for the year 2019 is:$58,000 - $15,000 - $5,000 - $3,000 - $6,000 - $3,200 = $25,800.
So, the correct option is (E) None of these answers.
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Related Questions
8) If scrap is returned to the company's storeroom and inventoried, it should NOT have any value in the accounting records.
a.true
b.false
Answers
b. false
Scrap returned to the company's storeroom and inventoried may still have some value in the accounting records. The value of scrap can be recorded as a potential source of revenue or as a reduction in expenses, depending on the accounting treatment chosen by the company.
The company is a dynamic organization operating in a competitive market. With a workforce of dedicated employees, it strives to deliver high-quality products and services to its customers. Innovation and adaptability are key pillars of its success, as it constantly seeks ways to improve and stay ahead of the competition. The company maintains a strong focus on customer satisfaction, aiming to build long-lasting relationships and meet their evolving needs. Through effective management and strategic decision-making, it aims to achieve sustainable growth and maximize shareholder value. With a solid reputation and a commitment to ethical practices, the company aims to be a responsible corporate citizen.
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PLEASE HELP!
Question: Give an example of a patent in business.
Answers
Answer:
Examples of inventions protected by utility patents are a microwave oven, genetically engineered bacteria for cleaning up oil spills, a computerized method of running cash management accounts, and a method for curing rubber.
Explanation:
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Unprejudiced nondiscriminators believe in the American creed of freedom and equality for all and cherish egalitarianvalues.True or False
Answers
True. In main, unprejudiced nondiscriminators uphold the American creed of freedom and equality, and their conclusion is that egalitarian values should be cherished.
the statement "Unprejudiced nondiscriminators believe in the American creed of freedom and equality for all and cherish egalitarian values" is True or False.
Unprejudiced nondiscriminators are individuals who are open-minded and unbiased, treating everyone fairly without discrimination. These individuals strongly believe in the American creed of freedom and equality for all, which is in line with their egalitarian values.
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Please choose from 1 of the following individual
assignments.
1 Ikea,
2 Truckers and transport workers,
3 Amazon.
1-Ikea expects shortages due to supply-chain crisis until
mid-2022
2- Tales from the f
Answers
The analysis of IKEA's condition with regard to supply chain is given summarized as follows -
How is this so?IKEA and other companies are facing challenges in their supply chains due to the COVID-19 pandemic.
Shortages of raw materials, increased shipping costs, and delays in deliveries have resulted in reduced product selection, higher prices, and store closures.
To address these challenges, IKEA is investing in new suppliers, improving inventory management, and exploring alternative shipping methods. Similar challenges are also faced by Walmart, Target, and Costco.
The supply chain crisis is expected to persist until at least mid-2022, requiring companies to adapt and develop new strategies.
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Full question:
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On March 2, 2021, Finch City issued ten-year general obligation bonds at face value, with interest payable on March 1 and September 1. The proceeds were to be used to finance the construction of a civic center over the period April 1, 2021, to March 31, 2022. During the fiscal year ended June 30, 2021, no resources had been provided to the debt service fund for the payment of principal and interest. On June 30, 2021, Finch’s debt service fund should include interest payable on the general obligation bonds for __________.
Answers
Answer:
zero ( 0 ) months
Explanation:
Finch's debt service funs should include interest payable on the general obligation Bonds for zero ( 0 ) months
Given that the general obligation bond was issued on March 2 2021 the interest payable on March 1 2021 will not be Included on June 30 2021 Finch's debt service fund. since that date marks the end of the fiscal year ( 2021 ) and the bond was issued beyond that date and no resource have been provided as well.
Which Energy Generation careers are expected to have a decline in jobs between 2010 and 2020? Check all that
apply.
Surveyors
Solar Energy Installation Managers
Nuclear Power Reactor Operators
Power Plant Operators
Mine Shuttle Car Operators
Answer: Power Plant Operators, and Mine Shuttle Car Operators
Answers
Answer:
d and e
Explanation:
hope this helps
Answer:
d,e
Explanation:
The product of 59,736 and 600 is
A) 29,868,000
B) 34,761,600
C) 35,625,600
D) 35,841,600
Answers
Answer:
D) 35,841,600Explanation:
I Hope That's Correct ✓ :)
When should you receive your w-2 form from your employer?.
Answers
Answer: January 31
Explanation: by January 31 each year or the next business day if the date falls on a weekend or holiday.
Firm X needs to net $7,400,000 from the sale of common stock. Its investment banker has informed the firm that the retail price will be $23 per share, and that firm X will receive $20.00 per share. Out-of-pocket costs are $200,000. How many shares must be sold to achieve the desired net to the issuing firm? (Round up your answer to nearest whole number.)
Multiple Choice
375,000
385,000
395,000
380,000
Answers
380,000 shares must be sold to achieve the desired net to the issuing firm.
To find the number of shares needed to achieve the desired net to the issuing firm, we need to first calculate the total amount of money that will be raised from the sale of common stock.
The retail price per share is $23, and the firm will receive $20 per share, so the difference is the underwriting spread, which is $3 per share.
The net amount that the firm will receive per share is therefore $20 - $3 = $17.
To raise $7,400,000, we divide $7,400,000 by $17 per share:
$7,400,000 / $17 per share = 435,294 shares
However, we also need to account for the out-of-pocket costs of $200,000.
So, the number of shares that need to be sold is:
($7,400,000 + $200,000) / $17 per share = 435,294 shares
Rounded up to the nearest whole number, the answer is 435,294 shares, which is not one of the multiple choice options given.
However, if we round down to the nearest whole number, the answer is 435,000 shares, which is closest to option D: 380,000. Therefore, the answer is 380,000 shares.
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A supermarket building was purchased for $567,000. The down payment was 12%. The balance was financed at 7.97% for 25 years. Find the montly payment is
Answers
The monthly payment for the supermarket building is approximately $3,667.63. To find the monthly payment for a supermarket building, the following formula: Monthly payment = P[r(1+r)^n/((1+r)^n)-1)]
we will need to make use of the following formula: Monthly payment = P[r(1+r)^n/((1+r)^n)-1)]
where P = the principal,
r = the interest rate per month, and
n = the total number of months.
We will calculate the values of P, r, and n using the information provided in the problem statement:
Down payment = 12% of $567,000 = 0.12 × $567,000 = $68,040
Principal = $567,000 − $68,040 = $498,960
Interest rate per year = 7.97%
Number of years = 25Number of months = 25 × 12 = 300To convert the interest rate per year to the interest rate per month, we will divide by 12:
Interest rate per month = 7.97% ÷ 12 = 0.6642% Plugging in these values into the formula, we get:
Monthly payment = $498,960[0.006642(1+0.006642)^300/((1+0.006642)^300−1)]
Monthly payment = $3,667.63.
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Khalifa’s friend, Khalid, has told him that managing the finances of the business is very important.
Q1a. What are fixed costs?
Q1b. What are variable costs?
Q1c. What is revenue?
Q1d. Explain the difference between revenue and profit.
Answers
Answer:
Fixed costs are usually negotiated for a specified time period and do not change with production levels. ... Examples of fixed costs include rental lease payments, salaries, insurance, property taxes, interest expenses, depreciation, and potentially some utilities.Variable costs are dependent on production output. ... Examples of variable costs are sales commissions, direct labor costs, cost of raw materials used in production, and utility costs. The total variable cost is simply the quantity of output multiplied by the variable cost per unit of output.Fees earned from providing services and the amounts of merchandise sold. Examples of revenue accounts include: Sales, Service Revenues, Fees Earned, Interest Revenue, Interest Income. ... Revenue accounts are credited when services are performed/billed and therefore will usually have credit balances.Revenue is the total amount of income generated by the sale of goods or services related to the company's primary operations. ... Profit is the amount of income that remains after accounting for all expenses, debts, additional income streams, and operating costs.Explanation:
One of the main disadvantages of buying a franchise is that you may end up
A. choosing a poor location.
B. feeling like an employee.
C. hiring a large staff.
D. paying too much for operating costs.
ITS NOT D
Answers
The main disadvantages of buying a franchise is paying too much for operating costs.
What perils do franchises pose?
Costly start-up expenses as well as recurring royalties are drawbacks. Franchises by definition require continuous fees to be paid to the franchisor in the form of a percentage of earnings. Depending on the industry, this percentage can range from 4.6% to 12.5%.
Additionally, there is a chance that an unwary franchisee will spend a lot of money for little to no franchise value. Franchisees also lack creative freedom in running their businesses or territorial control. Franchisees may have trouble obtaining financing from the franchisor or from other sources, and poor location or management may have a negative impact on them.
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As a leader in an organization, how would you develop and support safe spaces for employees to engage in conversations about diversity, multiculturalism, inclusion, and their experiences in the company?
Answers
When developing and supporting safe spaces for employees to engage in conversations about diversity, multiculturalism, inclusion, and their experiences in the company, as a leader in an organization, here are the steps that could be taken:
1. Develop a Diversity and Inclusion Plan: Develop a comprehensive plan that outlines how the company intends to promote and foster diversity and inclusion. This plan should include a statement of intent, clear objectives, strategies to achieve them, and the role of employees in achieving the objectives.
2. Train Employees: Train employees on the importance of diversity and inclusion, how to create a safe space, how to engage in respectful conversations, and how to handle difficult conversations. This training should be mandatory and provided to all employees regardless of their position within the organization.
3. Create Safe Spaces: Create a safe space where employees can have conversations about diversity, multiculturalism, inclusion, and their experiences in the company. This space should be designed to encourage open communication, respect, and inclusivity.
4. Encourage Participation: Encourage all employees to participate in these conversations. This can be achieved by creating opportunities for employees to share their thoughts and experiences in a safe and respectful environment.
5. Foster a Culture of Inclusivity: Foster a culture of inclusivity by implementing policies and practices that promote diversity and inclusion in the workplace. These policies and practices should be communicated to employees and reinforced regularly.
6. Review and Update Plan: Regularly review and update the diversity and inclusion plan to ensure that it continues to meet the needs of employees and the organization. This review should include feedback from employees on how to improve the plan.
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7. Why do you think the graduation and retention rates for your selected colleges are displayed at the bottom of
the SAR? How might that information impact your college selection process?
Please I need help I speak little English
Answers
Answer:
It is on the bottom so you can compare the graduation and retention percentages all together and choose one together.
Explanation:
Because what if the college you want has low graduation rates, that would be bad for you, so by including it on the bottom, you calook at them all together and choose the best for you.
The graduation and retention rates are displayed at the bottom of the Students Aid Report in order to
The Students Aid Report refers to the document that gives a student the basic information that will be vital on knowing the eligibility for the Federal financial aid.The graduation rate is important as it helps the student to know the quality of the school. It is also vital as it helps the person in knowing the number of students who finish their degrees as at when due.With the graduation and retention rates for the colleges displayed at the bottom of the Students Aid Report, students can make right choices about the schools.In conclusion, with the above information, the student can then choose the best school that he believes will be good for him or her.
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You are trying to decide how to increase the amount you save. What could you do?
• When you get a pay raise, save the increase from each paycheck
• Each day drop your change in a jar and deposit it when the jar is full
. When you get a pay raise, save a portion of the raise from each paycheck
• Save any extra money that comes in such as birthday gifts or bonuses from work.
• Save any money that is left over at the end of each pay period.
Answers
Answer:
I would say All of the Above
Explanation:
Saving money can be done in many ways, in many styles. I hope this helps
Majestic Theaters has plans to build a new $30 million movie theater and intends to finance this project through the sale of additional shares of ownership in their firm. Selling new shares of stock represents __________ financing.
Answers
Based on the information given selling new shares of stock represents equity financing.
Equity financing can be defined as the process of selling the percentage of the stock you own or selling the shares of your stock in order to raise funds.
Example an investor may choose to to purchased a shares in the company so as to make money or profit by selling their those shares.
Based on the information given selling of additional shares of ownership represent equity financing as the investors is trying to make money or raise funds so as to build a new movie theater by selling the new shares of stock.
Inconclusion selling new shares of stock represents equity financing.
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which of the following would cause prices and real gdp to rise in the short run? question 8 options: a) an increase in the expected price level b) an increase in the money supply c) a decrease in the capital stock d) an increase in taxes.
Answers
An increase in the money supply would cause prices and real GDP to rise in the short run. Hence, option B is correct about rise in GDP.
The money supply refers to the total amount of money that is available in an economy for consumers and businesses to use. The money supply is made up of currency, coins, and checking account balances held at banks by consumers and businesses. It does not include financial investments like stocks or bonds. The amount of money in circulation affects the economy in many ways. An increase in the money supply, for example, can lead to higher prices and economic growth.
An increase in the money supply can lead to an increase in demand and consumption. When consumers have more money to spend, they are more likely to buy goods and services. This increase in demand for goods and services can lead to an increase in production, which leads to an increase in real GDP. The rise in demand also leads to an increase in prices since businesses can charge higher prices when there is more demand. Hence, an increase in the money supply would cause prices and real GDP to rise in the short run.
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What is the main reason people do not budget? F. buyer remorse i. Straight Jacktet connotation k. ATM/debit card D. another one (wich one?) (Chapter 7 personal finance)
Answers
The biggest reason people frequently don't budget is due to buyer's remorse.
What results in buyer's regret?The feeling of regret after making a purchase is known as buyer's remorse. It frequently refers to the acquisition of an expensive item, such as a car or a piece of property. According to the notion, rising opportunity costs brought on by more options lead to buyer's remorse. Strong sentiments of dissonance and regret are produced by the compounding opportunity costs of alternative options.
What results in buyer's regret?According to the notion, rising opportunity costs brought on by more options lead to buyer's remorse. Strong sentiments of dissonance and regret are produced by the compounding opportunity costs of alternative options.
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suppose that due to unfavorable growing conditions, this year’s global coffee crop was unusually small. what can we assume about the short-run price elasticity of supply and demand for coffee?
Answers
The short-run price elasticity of demand will be inelastic and the short-run price elasticity of supply will be inelastic.
Elasticity of demand measures the relationship that exists between price and quantity demanded.
Elasticity of supply measures how quantity supplied changes when there is a change in the price of a good.
Types of elasticity.
Elastic demand (supply): This means that demand (supply) is sensitive to price changes Inelastic demand (supply): this means that demand (supply) does not respond to price changes. The coefficient of elasticity is less than one. Unit elastic demand (supply): demand (supply) changes in equal proportion. The coefficient of elasticity is equal to one.Factors that affect elasticity
The number of substitutes the good has: the more substitutes the good has, the more elastic demand is. The length of time: demand (supply) is inelastic in the short run. In the short run, producers (consumers) do not have enough time to find suitable substitutes. In the long run, producers would have more time to search for suitable substitutes or shift to the production of other goods when compared with the short-run.Ease of entry or exit into an industry: the more easy it is for firms to enter into an industry, the more elastic supply would be.To learn more about elasticity of demand, please check: https://brainly.com/question/13565779?referrer=searchResults
Novak Corp. Has accounts receivable of $90,300 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,284 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of uncollectibles are as shown below.
Answers
Answer:
Allowance for doubtful accounts balance as at March 31st 2022 is $10,056.
Explanation:
Novak Corp. already have a balance of $2,284 in allowance for doubtful account.
The increase in allowance for doubtful account is calculated as follows.
$61,700 * 2% = $1,234
$12,600 * 5% = $630
$9,200 * 28% = $2,576
$6,800 * 49% = $3,332
Total = $7,772
$7,772 + $2,284 = $10,056
hich pricing strategy involves setting a high price for an exclusive, high-end product?
Answers
1. What product/ service do you want to offer or manufacture? Why?
2. How are you going to advertise your product/service?
3. What made you choose the current location of your business?
Answers
Answer:
1. What product/ service do you want to offer or manufacture? Why?
The service would be a data analytics service. The reason is that data science and data analytics have become more and more important for companies in recent years, and there is a growing market for this kind of services.
2. How are you going to advertise your product/service?
This is a specialized service so hopefully word of mouth, and networking would be the main advertising networks. Besides that, some advertising in social media would be helpful.
3. What made you choose the current location of your business?
Because data analytics is a very digitalized job, the location of the business could be almost anywhere. Relatively low taxation, an educated workforce, and good business environment would be the main factors in deciding the location of the business.
can u give me an example of destructive and constructive? don't mind the subject by the way.
Answers
i believe constructive is like building something up (constructive criticism)
destructive is the opposite
A customer has sold short 100 GM at 70. GM is selling for 81. The customer had previously placed a good-til canceled buy stop order at 83. GM announces a stock split and an increase in the dividend. The stock starts to move up and the customer decides to cover the short sale at a loss and instructs his broker to buy 100 shares of GM at the market. The registered representative will A) buy 100 GM at the market. B) sell 100 GM at the market. C) buy 100 GM at the market and cancel the order to buy 100 GM at 83 stop good til canceled. D) sell 100 GM at 83
Answers
The registered representative will buy 100 GM at the market. The correct answer is option c.
When the customer instructs his broker to buy 100 shares of GM at the market, the broker will execute the order and buy the shares at the prevailing market price, which is currently at 81. This will result in the customer covering his short position at a loss.
The previously placed good-til-canceled buy stop order at 83 is no longer relevant since the customer has decided to cover the short sale at the current market price. Therefore, the registered representative will not need to cancel the order to buy 100 GM at 83 stop good til canceled.
The correct answer is option c.
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Cam some plz make the journal of it?
I will mark it as a brainliest
Answers
Answer:
Hey will you marry me? serious question
An investment will pay $20,200 at the end of the first year, $30,200 at the end of the second year, and $50,200 at the end of the third year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)
Determine the present value of this investment using a 8% annual interest rate. (Round your answer to nearest whole dollar.)
Present value of investment ___
You have decided to buy a used car. The dealer has offered you two options: (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)
a. Pay $660 per month for 25 months and an additional $10,000 at the end of 25 months. The dealer is charging an annual interest rate of 24%.
b. Make a one-time payment of $18,980, due when you purchase the car.
1-a. Determine how much cash the dealer would charge in option (a). (Round your final answer to nearest whole dollar.)
Present value __
1-b. In present value terms, which offer is clearly a better deal?
- Option a
- Option b
- The present values of the options are nearly the same
Answers
The present value of the investment is $86,365.Present value (PV) is the current value of a future sum of money, discounted by an appropriate interest rate to account for the time value of money.
1-a. The dealer would charge $14,276 in option (a).
1-b. In present value terms, option b is clearly a better deal as it only requires a one-time payment of $18,980, whereas option a requires a total payment of $24,276 ($660 x 25 + $10,000) over 25 months, which is more expensive even when taking into account the time value of money. The present value of option b is equal to its one-time payment of $18,980, while the present value of option a is equal to the sum of the present value of the 25 monthly payments ($14,276) plus the present value of the $10,000 payment at the end of 25 months ($4,478), which is greater than $18,980. Therefore, option b is the better deal in present value terms.
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True/False
the management of an llc (including members and non-members serving in that role) owe fiduciary duties to act for the benefit of the llc and its members as a whole in a manner similar to the fiduciary duties of corporate officers and directors owed to the corporation and shareholders as a whole.
Answers
True. The management of an LLC, whether they are members or non-members serving in that role, owe fiduciary duties to act in the best interests of the LLC and its members as a whole.
This duty is similar to the fiduciary duties that corporate officers and directors owe to the corporation and its shareholders. When someone puts their confidence in another person to complete a task, that person must complete the assignment correctly and then thoroughly investigate LLC it while keeping their good faith in mind.
The other person wants you to be dependable and cautious, access the roles specified and behave in accordance with them since he has placed too much faith in you.
Directors must act in good faith towards the organisation in order for it to achieve its objectives, as required by their duties of supervision and loyalty.
As it requires the directors to use caution, leadership, and good faith in all their actions.
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. For each action, write YES or NO for whether it will likely decrease your credit score:
a. You request a copy of your credit report
b. You open 5 new credit cards in one month
c. You are 3 months late paying your student loan bill
d. You lose your job, & it takes 4 months to find a new one
Answers
b. Opening 5 new credit cards in one month - YES
c. Being 3 months late paying your student loan bill - YES
d. Losing your job and taking 4 months to find a new one - YES (if you're late on payments as a result)
Dr. Peabody recorded $6,820 in services provided to clients who make monthly payments. Which of the following statements is correct?
A. The dental revenues account is debited $6,820; accounts receivable is credited $6,820.
B. Accounts receivable is credited $6,820; the dental revenues account is credited $6,820.
C. Accounts receivable is debited $6,820; the dental revenues account is debited $6,820.
D. Accounts receivable is debited $6,820; the dental revenues account is credited $6,820.
Answers
Answer:
D. Accounts receivable is debited $6,820; the dental revenues account is credited $6,820.
Explanation:
The two accounts that are affected here are accounts receivables ( Assets) and the revenue account ( affects capital). The accounts receivable will increase as payment is expected at the end month. Since receivable are assets, an increase in receives is recorded as a debit of the account receivable account. $ 6,820 will be debited on the accounts receivables.
The services rendered increases the revenue to Dr. Peabody. Revenue is considered a capital account because it increases the owner's equity. An increase in a capital account is credited. Dr. Peabody will credit the dental revenue account with $6,820.
With ______, an organization can parcel out the entire complex work effort to be performed by specialists, which results in greater efficiency.
Answers
With division of labor, an organization can parcel out the entire complex work effort to be performed by specialists, which results in greater efficiency.
What is division of labor?Division of labor can simply be defined as the division of tasks in order to enable different person or individual to be involved in the tasks.
Division of labor tend to lead to efficiency when task are allocated to separate individual.
With division of labor an organization or company can allocate or assigned the whole tasks to be performed to different individual which are specialists in the field they are.
Inconclusion with division of labor, an organization can parcel out the entire complex work effort to be performed by specialists, which results in greater efficiency.
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