Duke and pat collins have adjusted gross income of $358,000. they have itemized deductions of $20,000 consisting of $8,000 in medical expenses that exceed 10% of adjusted gross income, $3,000 in property taxes, $4,000 in housing interest, and $5,000 in miscellaneous itemized deductions that exceed 2 percent of adjusted gross income. what is the amount of their itemized deduction?

Answers

Answer 1

Answer:

$18,599

Explanation:

the $8,000 in medical expenses are 100% deductible,

but property taxes, housing interest and other miscellaneous deductions are not 100% deductible : $3,000 + $4,000 + $5,000 = $12,000

of the $12,000, you will be able to deduct $12,000 - [($358,000 - $311,300) x 3%] = $12,000 - $1,401 = $10,599

total itemized deductions = $8,000 + $10,599 = $18,599


Related Questions

f interest rates are rising in an economy, what might the relationship be between savings and investment that is causing this to happen?

Answers

Answer: b) Investment demand had been greater than savings

Explanation:

Investment in the economy comes from savings by households also known as Loanable funds. If investment demand is higher than the savings supply this demand will pull the interest rate up due to a lack of loanable funds.

As the interest rates are pulled up, more people will be encouraged to save their money in other to benefit from the higher interest rates thereby increasing the loanable funds in the market.

Objectives of Promotion

Answers

Answer:

Promotion refers to any type of marketing communication used to inform or persuade target audiences of the relative merits of a product, service, brand or issue. The aim of promotion is to increase awareness, create interest, generate sales or create brand loyalty.

Hope this helped you!

Explanation:

An army sergeant works as a trauma surgeon. Which two career clusters is he most likely a part of? the Energy cluster and the Education and Training cluster the Health Services cluster and the Energy cluster the Government and Public Administration cluster and the Health Services cluster the Education and Training cluster and the Government and Public Administration cluster

Answers

Answer:

guys the answer is b

Explanation:

if u study hard u will know the answer plus i just took the text hope this works.

The two career clusters is he most likely a part of are the health service cluster and the energy cluster Option(b) is correct.

What is the meaning of career clusters?

Career clusters are known to be as the group of the clusters which are having always similar or same feature when ever required at a particular time.

Career cluster example basically includes Food, Agriculture and resources for an army worker working as an trauma surgeon the health cluster and the energy cluster are always main part which are mostly and fully liked on accordingly and relatively.

Therefore Option(b) is correct.

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A coffee distributor needs to mix a(n) House coffee blend that normally sells for $13.20 per pound with a Rift Valley coffee blend that normally sells for $14.40 per pound to create 60 pounds of a coffee that can sell for $13.96 per pound. How many pounds of each kind of coffee should they mix

Answers

Answer:

Quantity of House coffee blend = 22 pound

Quantity of Rift Valley coffee blend = 38 pound

Explanation:

Given:

Quantity of House coffee blend = x

Amount of  House coffee blend = $13.20 pound

Quantity of Rift Valley coffee blend = y

Amount of Rift Valley coffee blend = $14.40 pound

Total quantity = 60 pound

Sell price = $13.96 per pound

Find:

Quantity of House coffee blend

Quantity of Rift Valley coffee blend

Computation:

x + y = 60 ........Eq1

And,

13.20 x + 14.40 y = 13.96(60)

13.20 x + 14.40 y = 837.6.........Eq2

from Eq2 and Eq1

y = 38

and x = 60 - 38 = 22

Quantity of House coffee blend = 22 pound

Quantity of Rift Valley coffee blend = 38 pound

George
b. smith, president of forecasters inc., reported that the correlation coefficient between investment in the textile industry and the average temperature in minnesota during january is -0.60. does the sign of the correlation make sense to you? explain your reasoning.

Answers

Answer: Yes, because negative correlation coefficient implies there is negative correlation between quantities.

Explanation:

Correlation is a term we use to define the strength and direction of relation ship between two variables.

Negative correlation coefficient means there is a negative correlation between the variables , that is if one increases the other decreases.

Here, variables are : " investment in the textile"  and "average temperature in Minnesota during January "

So -0.60 defines that there is negative correlation between the investment in the textile and the average temperature in Minnesota during January.

Trisha's Tasty Treats, a bakery and coffee shop, is having a grand opening on Saturday to celebrate its newest location. In addition to advertising the event in the local paper, Trisha sent a bakery menu to all households in the area along with a 50% off coupon. In doing so, Trisha's Tasty Treats is most likely attempting to _______.

Answers

Answer:

d) communicate value

Explanation:

the question was missing the options:

a) deliver value

b) forecast value

c) explain value

d) communicate value

In marketing, communicate value refers to getting your customers  (potential in this case), to believe that they are getting a good deal when they purchase your products or services. We all assign come type of value to our purchase decisions, and when we assign a higher value than its to a product, we as customers get customer surplus. The higher the value that our customers believe that our product is worth, the more they will be willing to pay for it. When customers feel that our product is not worth its price, then they will simply stop purchasing it.  

Prove you know what diminishing marginal utility is by creating an example of your own. Your example
cannot be food related.

Answers

Hi there, I'm not answering this question, sorry.

Your task clearly states you must think of your own example and prove what you know. That's why.

Please, if you're coming onto the Brainly website, at least improve your questions.

Which of the following project management knowledge areas primarily involve generating, collecting, disseminating, and storing project information? a. Project time management b. Project communications management c. Project procurement management d. Project cost management

Answers

Answer:

Project communications management

Explanation:

Project communications management involves the processes that primarily involve timely planning, collecting, creating, distributing, storing, retrieving, managing, controlling and monitoring of project information. It is important for project managers to communicate the needs of a project to both team members and stakeholders. The effectiveness of communication with these diverse team members and stakeholders ultimately impacts the outcome of a project.

Project communication management involves the following three vital processes: Plan communication management, manage communications and control communications.

8. Which users could be targeted with Dynamic Remarketing to bring them back to a website? (select all that apply) Users who posted a favorable product review Users who viewed a website search result page Users who viewed product detail pages Users who abandoned their shopping carts

Answers

Answer:

- Users who viewed a website search result page

- Users who viewed product detail pages

- Users who abandoned their shopping carts

Explanation:

Remember, the ultimate aim of marketing is achieved only when the seller makes a sale to the user.

However, in all the above scenarios no sale was actually made, and so there's a need for dynamic remarketing in other achieve the sales objective.

"Employees are paid $2,400 on every Friday for a five-day workweek. The accounting period ends on Wednesday, December 31. Adjusting for the salaries and benefits expense for the last three days of the accounting period would"

Answers

Answer and Explanation:

The computation of the adjusted amount of the last three days of the accounting period is shown below:

Since for five days work week, the total wages is $2,400

So per day it would be

= $2,400 ÷ 5 days

= $480

Now for 3 days, it would be

= $480 × 3 days

= $1,440

Now the adjusting entry is

Salaries and wages expense Dr $1,440

          To Salaries and wages payable $1,440

(Being the salaries are adjusted)

Producer surplus is the difference between the _____ price and the minimum price at which a producer would be willing to sell a particular quantity.

Answers

Answer:

Market

Explanation:

Producer surplus is the difference between the market price and the minimum price at which a producer would be willing to sell a particular quantity.

Producer surplus is known to be the total amount that a producer benefits or gains from producing and selling a quantity of a good at the market price. The total revenue that a producer receives from selling their goods minus the total cost of production equals the producer surplus.

What is the theory of management that examines how to create an organizational structure and control system that results in an organization that is highly efficient and effective?

Answers

Answer:

Administrative

Explanation:

The theory of management that is being described is known as the Administrative management theory. This theory tries to come up with a rational way of designing an organization so that it works as a whole entity. Doing so allows for the organization to function at the highest efficiency and effectiveness levels, which overall brings lower costs and increased profits for the organization.

Suppose that freedonia and lamponia agree to trade. each country focuses its resources on producing only the good in which it has a comparative advantage. the countries decide to exchange 12 million pounds of lemons for 12 million pounds of tea. this ratio of goods is known as the terms of trade between fredonia and lamponia.

Answers

Answer:

Fredonia and Lamponia

Exchange of 12 million pounds of lemons for 12 million pounds of tea:

The ratio of goods exchanged is known as the terms of trade between the two countries, because by exchanging 12 million pounds of lemons for 12 million pounds of tea, Fredonia and Lamponia have directly fixed the price of lemon to be equal to the price tea.

The exchange will merely be a trade by barter if the price of tea per pound is not the same price of lemons per pound.  But, by equating their prices and exchanging the same quantities, Fredonia and Lamponia have implicitly defined their terms of trade for lemon and tea respectively.

Explanation:

Generally, the trade terms between Fredonia and Lamponia represent the ratio of the export price of lemons and import price of tea. The ratio is calculated by dividing the price of the exports by the price of the imports and multiplying the result by 100.  In this implied situation, the ratio is 100% or 1 is to 1.

What staffing issues would create the biggest obstacles to starbucks ability to execute its growth and specialization strategies?

Answers

Answer:

finding the type of employees that would help them execute its growth and specialization strategiesretaining the employees after hiring them

Explanation:

Some of the staffing issues would create the biggest obstacles to Starbucks ability to execute its growth and specialization strategies is finding the type of employees that would help them execute its growth and specialization strategies this because employees with such special skills are either hired already or Starbucks would have to fight off stiff competition for such employee

another staffing issue that would create an obstacle for Starbucks is retaining the employees after hiring them and one way to overcome this is good welfare packages and good working environment

in a based economy transaction require that each party have something the other desires increase market

Answers

Answer:

The ansewr is a barter based economy.

In a barter based economy, goods are exchanged for other goods, because no good that takes the functions of money exists (unit of account, store of value, and medium of exchange).

Barter economies can work on a limited scope, but to a larger extent, they can become inefficient, because this type of economy requires a double coincidence of wants: both parties of the transaction must desire the other party's goods.

On August 1 of the current​ year, Trevor Beck received for legal services to be performed evenly throughout the next six months. The adjusting entry on December 31 of the current year would include​ a:

Answers

Answer:

the question is missing the amount received by Trevor, but we can solve using a number that we choose:

For instance, lets say that Trevor received $6,000 for legal services to be performed during 6 months. The journal entry to record this would be:

August 1

Dr Cash 6,000

    Cr Unearned revenue 6,000

On December 31, the adjustment entry should be:

Dr Unearned revenue 5,000

    Cr Service revenue 5,000

Unearned revenue is a liability account because we received money but we owe the services, therefore, revenue will only be recognized as the legal services are performed.

What is one ethical issue demonstrated in the Milgram experiments? A. Milgram and his associates were willing to harm one person with electric shocks in order to learn. B. Milgram and his associates did not discover anything important about psychological issues. C. Milgram and his associates pressured subjects to continue after they signaled that they wished to stop. D. Milgram and his associates debriefed subjects afterwards to ensure they understood the experiment.

Answers

Milgram and his associates debriefed subjects afterwards to ensure they understood the experiment  is one ethical issue demonstrated in the Milgram experiments. Hence, option D is correct.

What is Milgram experiments?

The findings of Milgram's experiment demonstrated the persuasive power of authority and the ability of someone in a position of power to influence others to act unethically and against their better judgment.

The experiment is viewed as unethical because the test subjects were led to believe they were startling real individuals. The fact that the pupils worked at Milligram was unknown to the general public.

After the experiment, a debriefing was presented to the participants. Milgram found that every genuine participant went at least as high as 300 volts, and that 65% of them continued to the entire 450 volts.

Thus, option D is correct.

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Answer:

C. Milgram and his associates pressured subjects to continue after they signaled that they wished to stop.

Explanation:

i got it wrong and saw the answer

The process by which new products are likely to be adopted, the rate at which they will be adopted, and the process through which the products will spread into markets is referred to as

Answers

Answer:

Importance of the Diffusion of Innovation

The diffusion of innovation theory explains the rate at which consumers will adopt a new product or service.

Two physical things you can do to demonstrate you are paying attention to a speaker are _____ and _____. smile brightly stand instead of sit make eye contact face the speaker

Answers

Answer:

face the speaker

make eye contact

Explanation:

The two things that are required for demonstrating that you are attentive towards the speaker is the face the speaker and make eye contact so that the speaker could understand that you are listening to him or her also at the same time he gets motivated that people are listening to him or her

Therefore in the given case, two things are facing the speaker and eye contact and the same is to be considered

Answer:

a. make eye contact

d. face the speaker

Explanation:

Two physical things you can do to demonstrate you are paying attention to a speaker are _____ and _____.

You what to be respectful.

HOPE THIS HELPS!!!!

An 85-year old retired client has living expenses of $15,000 per year. His portfolio is currently allocated: 50% Money Market Fund 40% Treasuries Yielding 1.20% 10% Equities The customer is complaining that he is not earning enough from his portfolio to meet monthly living expenses. The BEST recommendation to the customer is to:

Answers

Answer:

Explanation:

The best recommendation in this scenario would be to liquidate half of the money market fund and invest it in 5 year corporate debentures yielding 2.70%. This is because traditionally money market funds, although highly liquid, only offer an average of 1% return on investment for the capital invested. Investing instead in a corporate debentures yielding would net the individual more than double in ROI and hopefully cover all of the living expenses.

A clothing company is considering raises for employees. The raises are based on job performance. Based on the table, which employee is expected to receive a raise?
Employee A Employee B:
A:Completed two years of college B:Completed a technical school program A: Average productivity B:High productivity

Answers

Answer:

Employee B demonstrates a high level of productivity

The raises are based on job performance not on education so Employee B because demonstrates a high level of productivity is the answer

Took the test and checked that answer as right

Explanation:

Based on the table, Employee B is expected to receive a raise,because he contributes lot then the Employee A.

How an employee's work related to his rise?Many employers agree that salary increases should be primarily based on performance and experience. Companies require employees to show commitment to excellence and a guarantee of loyalty before offering a raise.A raise mean in work is an increase in the amount of hourly pay or salary that an employee receives for work performed in an organization.Justification for Raise,Use specific, recent accomplishments and the value you've brought to the company as reasons for why you deserve the salary you're proposing.Quantify your value with data and awards/accolades so you can demonstrate more tangibly how you've contributed to your company's bottom line.

Based on the table, Employee B is expected to receive a raise,because he contributes lot then the Employee A.

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Which security project team role is filled by individuals who understand the organizational culture, existing policies, and requirements for developing and implementing successful policies

Answers

Answer:

Security Policy Developer

Explanation:

Security Policy Developer is described as personnel or role of a person who worked in a company and has the responsibilities of setting required rules and regulations, allows monitoring and investigations, for other users in the company.

However, to be able to do this, such personnel should understand the organizational culture, existing policies, and requirements for developing and implementing successful policies.

Therefore, the correct answer is the Security Policy Developer

Andrews and Bates have a written contract in which Bates promises to sell Andrews a piece of real estate. Bates refuses to complete the transaction. Andrews sues Bates for specific performance, asking the court to order Bates to complete the sale. This action is for ________.

Answers

Answer:

Equitable relief

Explanation:

Equitable relief is defined as a remedy provided by a court that requires a party to act or prevents a person from acting.

It is usually granted in relation to contracts that have been breached.

When equitable relief is sought there is no monetary compensation, rather the plaintiff is requesting the court to ensure an action is performed.

In this instance Andrews and Bates have a written contract in which Bates promises to sell Andrews a piece of real estate. When Bates refuses to fulfill his obligation Andrews can seek for equitable relief from the court.

Forcing Bates to sell the piece of real estate as agreed in the contract.

Trisha's Tasty Treats, a bakery and coffee shop, is having a grand opening on Saturday to celebrate its newest location. In addition to advertising the event in the local paper, Trisha sent a bakery menu to all households in the area along with a 50% off coupon. In doing so, Trisha's Tasty Treats is most likely attempting to _______.

Answers

Answer:

communicate value

Explanation:

Trisha's Tasty Treats is most likely attempting to communicate value. This is the process of guiding your targeted audience or clientele from exposure, to awareness and attention, to understanding, to evaluation and yielding, to retention, and finally to action. Doing so allows individuals to learn about your product and convinces them that the product has sufficient value that is worth buying.

Mustard's Inc. sold the rights to use one of its patented processes that will result in cash receipts of $2,500 at the end of each of the next four years and a lump sum receipt of $4,000 at the end of the fifth year. The total present value of these payments if interest is at 9% is:

Answers

Answer:

PV= $10,030.27

Explanation:

Giving the following information:

Cash flow= $2,500

Lump sum= $4,000

i= 9%

n= 5

First, we need to calculate the future value of the cash flows:

FV= {A*[(1+i)^n-1]}/i

A= annual cash flow

FV= {2,500*[(1.09^4) - 1]} / 0.09

FV= 11,432.82

Now, the total future value:

FV= 11,432.82 + 4,000= 15,432.82

Finally, the present value:

PV= FV/(1+i)^n

PV= 15,432.82/1.09^5

PV= $10,030.27

Because modern search engines use proprietary technology in the race to stay ahead of competitors, it is not possible to tell exactly how they decide what websites will appear in a SERP. Select one: True False

Answers

Answer: True

Explanation:

Proprietary technology is simply the tools, processes, tools, or systems of interrelated connections which can be attributed as the property of an individual or a business.

The combinations listed above give competitive advantage to owners of such proprietary technologies. Because modern search engines use proprietary technology in the race to stay ahead of competitors, it is not possible to tell exactly how they decide what websites will appear in a SERP.

It should be noted that Search Engine Results Pages (SERP) are simply the pages that are displayed by search engines when a user asks a query.

The statement in the question is true.

XYZ, Inc., has 5 million shares outstanding and will issue 1 million shares of new stock through an upcoming rights offering. Regarding the rights offering, a registered representative (RR) should know that A) XYZ will issue 1 million rights. B) the exercise price is generally lower than the current market price at issuance. C) the value of the right will generally increase after the ex-date. D) a shareholder will generally have two to three weeks to exercise the rights.

Answers

Answer:

B) the exercise price is generally lower than the current market price at issuance.

Explanation:

The exercise price refers to the price at which the stock will be sold through the rights offering. The rights offering takes place between existing stockholders and they are given the option to purchase a given amount of stocks, generally proportional to the stocks that they own before the new issuance. The market price of the stocks is the price at which the stocks are sold in open trading markets.

An investor wishes to save for her retirement. She arranges to have $250 per month withdrawn from her account to be invested into a commodity fund. This type of savings plan is called

Answers

Answer:

dollar cost averaging

Explanation:

Dollar cost averaging is a type of investment plan where the customer (investor) will contribute a specific amount of money every fixed period of time. In this case, our investor is investing $250 every month regardless of the price of the securities that she is investing in. Some months she will be able to buy more or fewer securities than other months.

Put the following steps of the financial cycle in the correct order. I. Money flows to companies who use it to fund growth through new products. II. People invest and save their money. III. Money flows back to savers and investors. Group of answer choices

Answers

Answer:

II., I., III.

Explanation:

Well initially people tend to invest the money, and because of this investment businesses grow.

When people invest they buy equity or debt instruments in the company, directly or indirectly and then the company acquires these funds.

After that the company invests these funds in producing the products, making them reach the consumers.

Once consumers buy the products, the company generates the revenue.

When the revenue is generated the profits are distributed to equity holders, or investors and also in form of interest to debt instrument holders.

Work in process inventory increased by $20,000 during the current year. Cost of goods manufactured was $180,000. Total manufacturing costs incurred are

Answers

Answer:

$200,000

Explanation:

The work in process process inventory had an increase by $20,000 during the year

The cost of goods that were manufactured is $180,000

Therefore the total manufacturing costs incurred can be calculated as follows

= cost of goods sold that was sold + work in process inventory increase

= $180,000 + $20,000

= $200,000

Hence the total manufacturing costs that was incurred is $200,000

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