Melvin Crane is 66 years old, and his wife, Matilda, is 65. They filed a joint income tax return for 2019, reporting an adjusted gross income of $22,200, on which they owed a tax of $61. They received $3,000 from Social Security benefits in 2019. How much can they claim on Form 1040 in 2019, as a credit for the elderly?

Answers

Answer 1

Answer:

$0

Explanation:

the credit for the elderly is the lesser of the following:

1) taxes owed = $61

2) you calculate the credit for the elderly by subtracting $7,500 - $3,000 (social security benefits) = $4,500

then you subtract half of your AGI over $10,000 = ($22,000 - $10,000) x 50% = $5,500

the credit = $4,500 - $5,000 = $0 (there are no negative tax credits)

the lesser between $61 and $0 is $0.


Related Questions

The types of job-specific knowledge you need to perform well in a specialized field, known as _______ skills, appear to be most important for first-line managers.

Answers

Answer: technical

Explanation:

The types of job-specific knowledge you need to perform well in a specialized field, known as technical skills, appear to be most important for first-line managers.

What is skills?

The term skills refer to the person ability and talent that comes to the master own her work. There are the different types of the skills such as communication skills, computer skills and graphic skills. A person is the expert to the particular field are they easily faced the problems and the efficiently performing the work.

According to the skills are the necessary to the person because it's the help to the developed of the knowledge and the experiences. There are the skills are the different types such as technical, computer, reading, listening and the other communication skills.  A person was the acquired the skills on school, college, and the past job.

As a result, the job-specific knowledge to perform are the well specialized field.

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Question 28 A scientist has two solutions, which she has labeled Solution A and Solution B. Each contains salt. She knows that Solution A is salt and Solution B is salt. She wants to obtain ounces of a mixture that is salt. How many ounces of each solution should she use?

Answers

Answer:

12 ounces and 28 ounces

Explanation:

Let us assume the ounces of solution A be x

And, for solution B be y

Also

x + y = 40

y = 40 - x

salt in solution A is = 35% of x

salt in solution B is = 85% of y = 85% × ( 40 - x)

salt in the mixture is = 70% of 40 = 28

Now the equation would be

35x ÷ 100 + 85 ÷ 100 × ( 40 - x) = 28

35x + 3,400 - 85x = 2,800

35x - 85x = 2,800 - 3,400

-50x = -600

x = 12 ounces

Also y = 40 - x

= 40 - 12

= 28 ounces

Administrative costs include ______. shipping costs and sales commissions executive compensation and public relations costs factory maintenance workers' wages and factory supervisors' salaries sales commissions and factory supervisors' salaries

Answers

Answer: Executive compensation and public relations costs

Explanation:

Administration costs are cots that the company does not incur as a result of production, sales or indeed any specific department. They usually relate to the entire organization as a whole and involve the running of the entire company.

Executive compensation is an admin cost as the executives are in charge of coordinating the whole company and cannot necessarily be linked to one department or function.

Public relation costs affect the entire company and so are admin costs as well.

If a stock's market price is above its intrinsic value, then the stock can be thought of as being undervalued, and it would be a good buy. Group of answer choices True False

Answers

I think the answer is false, if it’s not I’m so sorry

If a stock's market price is above its intrinsic value, then the stock can be thought of as being undervalued, and it would be a good buy. The given statement is False.

What is the relationship between the intrinsic value and the market value of a stock?

Regardless of what the market determines to be its value at a particular time, it has an internal value. Market value is the current worth of a business as represented by its stock price. As a result, the market value could be significantly greater or lower than the intrinsic value.

It is possible to consider a stock to be undervalued and a good investment if its market price is higher than its intrinsic value. The long-term value, or intrinsic value, of the stocks in their companies, is always what managers aim to maximize. Exactly what stockholders want is this.

Thus, the mentioned above-given statement is not true.

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Homeowner Lorraine has not paid her mortgage for four months. Who will decide when it is time to begin foreclosure proceedings?

Answers

Answer:

The lender

Explanation:

A foreclosure is defined as a legal action taken by a lender where the borrower has stopped making payments. The lender forces the borrower to sell an asset used as a collateral in an effort to recover the loan.

Mortgages are loans collected on real estate properties, usually provided by mortgage company.

If Lorraine has defaulted for 4 months on her mortgage payments, the lender can start foreclosure procedure against her in an attempt to recover the loan.

Let R2 unrestricted and R2 restricted be 0.4366 and 0.4149 respectively. The difference between the unrestricted and the restricted model is that you have imposed two restrictions. There are 420 observations and three explanatory variables. The F-statistic in this case is:______

a. 4.61
b. 8.01
c. 10.34
d. 7.71

Answers

Answer:

8.01

Explanation:

(0.4366 - 0.4149/2)/1 -0.4366/420-3-1

= (0.01085/0.5634)*416

= 8.01

A ratio of two variances is the F-statistic. Variances are a metric for dispersion, or how far the data deviates from the mean.

Correct option is B.

The F-statistic in this case is: 8.01

Given Information:-

R2 unrestricted=0.4366R2 restricted=0.4149Number of observations=420

F-statistic=(0.4366 - 0.4149/2)/1 -0.4366/420-3-1

F-statistic= (0.01085/0.5634)*416

F-statistic= 8.01

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Using Google Wallet, consumers can pay for goods in stores. At check out, mobile users simply pass or tap their phone on a merchant terminal and payment is transferred. Users receive an SMS text message confirmation. The Google Wallet and similar payment systems are based on QR code technology. Select one: True False

Answers

Answer: False

Explanation: Google wallet and other similar payment methods such as Apple pay involving tapping on a merchant's payment terminal uses Near Field Communication (NFC) technology and not QR technology. Both methods are contactless methods of making payment, however, in the case of QR, it requires customers to simply scan a code similar to a barcode which has been specifically designed by the merchant from their mobile devices with the aid of camera. NFC payments doesn't require scanning a barcode as it only requires authentication by tapping on a merchant's payment system once the devices are close together.

Determine which of the four levels of measurement​ (nominal, ordinal,​ interval, ratio) is most appropriate for the data below. types of restaurants left parenthesis fast food comma organic food comma sea food comma etc. right parenthesis

Answers

Answer:

Using the four levels of measurement (nominal, ordinal,​ interval, ratio), the most appropriate for this data  "types of restaurants (fast food, organic food, seafood, etc.) measurement is the ratio.

Explanation:

Ratio defines the degree of the relationship between some types of restaurants and the whole restaurant system.  Specifically in mathematics, a ratio is a comparison of some two or more numbers that indicate their sizes in relation to each other.  It compares two quantities by division.  The dividend or number being divided is termed the antecedent.  The divisor or the number that is dividing the dividend is termed the consequent.

Management's greatest single concern is ________, which is the movement of money through an organization over a daily, weekly, monthly, or yearly basis.

Answers

The movement of money through an organisation over a a daily, weekly, monthly, or yearly basis.

Answer: Cash Flow

Explanation:

The making of the movie Waterworld cost a total of $180 million. It generated a total of $130 million in revenues. $70 million was spent and then the set sank. An additional $60 million was spent to rebuild the set. An additional $50 million was spent to finish the movie. Losses for the producers of Waterworld, if they finished the movie would be _____. If they did not finish the movie, losses would be _____.

Answers

Answer:

Losses for the producers of Waterworld, if they finished the movie would be $50 million. If they did not finish the movie, losses would be $130 million.

Explanation:

This is because, the difference between all their expenses in making the movie and the revenue generated is actually $50 million. This happens to be their losses while on the other-hand, if they didn't finish making the movie, it would be $130 million (aside the cost spent in finishing the movie after rebuilding the set)

In a sole sponsorship for network advertising, the:

A. costs are minimal so the sponsor can provide funds for programs, specials, and all kinds of shows.
b. advertiser does not have the authority to control the placement and content of its commercials.
c. advertiser is provided with several bills because all networks are decentralized.
d. advertiser is responsible for both the program content and the total cost of production.
e. advertiser cannot make decisions on the length of the commercial.

Answers

Answer:

D.

Explanation:

Sole Sponsorship is a type of sponsorship in which a company or a person decides to be the only supporter of the event. In Network advertising, when a person decides to sponsor solely, the advertiser becomes responsible for both the program content and the total cost of the production.

The Sole sponsor fund the costs that could be earned from the advertising. The sponsor funds to the content to promote its name and brand.

Some example of sponsors are PepsiCo, Coca-Cola, etc.

Thus from the given options the correct one is D.

Budgeting competency requires the ability to:__________

a. Define the production system
b. Quantify expected operations in dollars
c. Analyze actual results considering the budget to determine where costs were better or worse than expected
d. All of the above

Answers

Answer:

d. All of the above

Explanation:

A budget can be defined as a financial plan of estimated revenues, resources and expenses over a specific period of time in a particular country. It is usually reevaluated based on future plans and objectives periodically, typically on an annual basis. Thus, budgets are usually compiled, analyzed and re-evaluated on periodic basis.

Budgeting competency requires the ability to:

a. Define the production system.

b. Quantify expected operations in dollars.

c. Analyze actual results considering the budget to determine where costs were better or worse than expected.

Additionally, the first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.

The final step by the management of an organization in the financial decision making process is making necessary adjustments to the budget.

The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.

A business organizational form in which all general partners actively participate in ownership and management and are liable for all debt and actions, is called

Answers

Answer:

General partnership

Explanation:

General partnership is a business organization, whereby two or more partners agrees to share the profit, loss and liability that arises from business operation. What this means is that each partner actively participate in the operations of the business and should the company owe any debt, any of the partners may be sued for the business debt including seizure of the owners assets.

One of the advantages of general partnership is the ease of flexibility to structure their business as they deemed fit hence are able to closely monitor and control operations.

"Ethan knows that when he graduates from college and begins looking for a job, he will need to make his resume stand out from all the other resumes that the company receives in order to be selected for an interview. This focus on making his resume unique, means that Ethan understands the importance of _______ value."

Answers

Answer:

Communicating value

Explanation:

Communicating value involves showing others what makes one's product or skills different and better than others that are available.

What value means to stakeholders in a situation needs to be defined.

Focus is then given to how the skill or product can meet these unique needs.

Also one needs to understand the most effective platform to use in communicating value.

In this instance Ethan wants to make his resume stand out from all the other resumes that the company receives in order to be selected for an interview

He is communicating the value he can add to the company.

Sally has done well in her statistics class so far this term. Despite her good grades, Sally is worried that she will not do well on her upcoming test. So she studies extra hard. What best accounts for Sally's study pattern?

Answers

Answer: defensive pessimism

Explanation:

Defensive pessimism is a strategy that anxious people uses in order to help manage their anxiety which will in turn help them work productively.

Defensive pessimists try as much as possible to lower their expectations in order to help them prepare for the worst that may happen. This is the strategy used by Sally.

Leadership is a necessary (but not sufficient) condition for organizational success. Leaders should emerge at which level(s) of an organization?

Answers

Answer: throughout the organization

Explanation:

Leadership simply means when a group of people are being challenged and motivated sntha they can achieve a particular goal or objective. In organizations, a leader directs and motivates the workers so that organizational aims would be able to be achieved. It should be noted that leaders should emerge throughout the organization.

Which stage in the evolution of marketing was characterized by personal selling and advertising in order to persuade customers to buy new products or more of existing products?

Answers

Answer:

Sales orientation

Explanation:

Sales orientation refers to an approach that is taken by an organization in which the firm is improving its sales by using the sales tactics i.e. in terms of advertising, personal selling, etc

Therefore in the given case, for customer persuasion, the customers purchased the new products or existing products more products are purchased so this represents the sales orientation stage and the same is to be considered

how freedom of choice can affect the availability of products and services for consumers. And explain how it can also affect the profit a business might make on the products and services it sells.

Answers

Explanation:

The free market is one where there is freedom of choice, that is, exchanges between goods and services in the market are carried out freely with minimal influence from the state.

Therefore, the free market predominates in capitalist countries, it is the law of supply and demand that will influence the economy, supply being the quantity of a good offered in the market and demand the quantity of a good that consumers are looking for to buy. Since one influences the other, in an ideal economy, the law of supply and demand is balanced.

A company's profit can be affected by the free market by economic variables that cause supply and demand to decrease, like many competitors in the market, economic crisis, shortage of raw materials, etc.

When buyers buy goods in a market they are doing so because A. They choose the efficient allocation. B. They do not like the other good C. They value those goods at least as much as the price charged. D. A and B above. E. All of the above.

Answers

Answer:

C. They value those goods at least as much as the price charged.

Explanation:

When buyers buy goods in a market they are doing so because they value those goods at least as much as the price charged and obviously prefer the particular good (product) to the other which is being offered by the seller.

This ultimately implies that, when anyone buys a new product, it is simply because they feel the product is going to give them value for the price or amount of money being paid.

In the _______ step of cluster analysis, we use descriptor variables to explain how the subsamples differ and thereby can derive efficient targeting strategies, tailored to each subsample.

Answers

Answer:

Description

Explanation:

The cluster analysis refer to an activity in which there is a group of objectives set that shows the objects in the similar group that we called as a cluster

Here in the given situation, it is mentioned that the use of descriptor variables is used for cluster analysis in order to make a difference in sub samples

So here the description step is used in cluster analysis

Therefore the third option is correct

Bad Debts account has a credit balance of $8,000 before the adjusting entry for bad debts expense. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging−of−receivables ​method, the​ company's management estimates that uncollectible accounts will be $14,300. What will be the balance of the Allowance for Bad Debts reported on the balance​ sheet?

Answers

Answer:

$14,300

Explanation:

Based on the information given we were told that the​ management of the company estimated that the amount in the uncollectible accounts will be the amount of $14,300 which means that the amount of $14,300 will be the balance of the Allowance for Bad Debts that should be reported on the company balance​ sheet.

As part of their _______ roles, managers are expected to evaluate alternatives and make choices to solve problems or take advantage of opportunities.

Answers

Answer:

Decisional

Explanation:

Decisional roles in finance, is one of the needed aspect of managerial activity, so it is very important for managers to be up and doing in making sure opportunity are explored for the growth of the organization. It should be noted that As part of their decisional roles, managers are expected to evaluate alternatives and make choices to solve problems or take advantage of opportunities.

Candy is trying to decide between two job offers. The compensation package for job A includes a $300-per-month health insurance plan, to which Candy would contribute $95; a $40-per-month life insurance plan; a salary of $65,000 per year; and a 5% match on 401(k) contributions. The compensation package for job B includes a $400-per-month health insurance plan, to which Candy would contribute $105; a $50-per-month life insurance plan; a salary of $64,000 per year; and a 9% match on 401(k) contributions. Candy plans to contribute $8000 per year to her 401(k) plan.

Part 1. What is the yearly value of the health insurance benefit from job A? How about the yearly value of the health insurance benefit from job B?

Part 2. What is the yearly value of the life insurance benefit from job A? How about the yearly value of the life insurance benefit from job B?

Part 3. What is the yearly value of the 401(k) match from job A? How about the yearly value of the 401(k) match from job B?

Answers

Answer:

Part 1. Monthly  health insurance benefit for job A is $205

Yearly health insurance benefit for job A is $2,460

Monthly  health insurance benefit for job B is $295

Yearly health insurance benefit for job B is  $3,540

Part 2. The yearly value of the life insurance policy for job A is $480

The yearly value of the life insurance policy for job B is $600

Part 3. The yearly value of the 401 (k) match from job A is $3, 250

The yearly value of the 401 (k) match from job B is $5, 760

Explanation:

Part 1. The health insurance benefit per month for job A = $300 - $95 = $205

The annual health insurance benefit = $205×12 = $2,460

The health insurance benefit per month for job B = $400 - $105 = $295

The annual health insurance benefit = $295×12 = $3,540

Part 2. The monthly life insurance plan for job A = $40

The yearly value of the life insurance policy for job A = $40 × 12 = $480

The monthly life insurance plan for job B = $50

The yearly value of the life insurance policy for job B = $50 × 12 = $600

Part 3. The yearly value of the 401 (k) match from job A = 0.05 × $65,000 = $3, 250

The yearly value of the 401 (k) match from job B = 0.09 × $65,000 = $5, 760

The amount of oil that is economically feasible to extract from a deposit using current technology is known as ______ oil reserves.

Answers

Answer: Proven oil reserves

Explanation:

Proven oil reserves are those that humans can extract oil from given our current technological and economic situations.

Under Proven oil reserves there are those that are Proven developed and those that are Proven Underdeveloped. Proven Developed ones can be extracted from as they come from already existing wells. Proven Underdeveloped however would need further investment to get them ready.

In India one person can produce 330 pounds of rice or 110 shirts in one year. In China one person can produce 400 pounds of rice or 200 shirts in one year. Which of the following statements is true?

a. India has a comparative advantage in the production of rice.
b. China has a comparative advantage in the production of rice.
c. China has both an absolute and comparative advantage in the production of rice.
d. India has an absolute advantage in the production of rice.

Answers

Answer:

a. India has a comparative advantage in the production of rice.

Explanation:

A comparative advantage is when a country is able to produce a product with a lower opportunity cost.

An absolute advantage is when a country is able to produce more products with the same resources than another country.

For India to produce 1 pound of rice, it has an opportunity cost of 0.33 shirts.

For China to produce 1 pound of rice, it has an opportunity cost of 0.5 shirts.

This indicates that India has a comparative advantage in producing rice as it has a lower opportunity cost.

According to this, the answer is that the statement that is true is: India has a comparative advantage in the production of rice.

Laura sells two sizes of ice cream: pints and gallons. She earns $3.50 for each pint she sells, and $10 for each gallon. If she earns $20,000 in all by selling 3,300 containers, what percentage of her earnings are from pints

Answers

Answer:

60.6%

Explanation:

Let x represent the number of pints sold and y represents the number of gallon sold.  She earns $3.50 for each pint she sells, and $10 for each gallon, she earns $20,000 in all by selling 3,300 containers Hence:

3.5x + 10y = 20000                   (1)

Also:

x + y = 3300                               (2)

We have to solve equation 1 and 2 simultaneously, multiply equation 2 by 3.5 and subtract from equation 1. This gives:

6.5y = 9500

Divide both sides by 6.5

6.5y/6.5 = 8450/6.5

y = 1300

Put y = 1300 in equation 2

x + 1300 = 3300

x = 3300 - 1300

x = 2000

Therefore 2000 pints and 1300 gallons were sold

The percentage of earnings from pints = number of pints sold/ total number sold * 100%

The percentage of earnings from pints = 2000/3300 *100% = 60.6%

To validate the study, the supervisors call ________ of the respondents to inquire whether the field workers actually conducted the interviews.

Answers

Answer:

10 to 25 percent

Explanation:

It is noteworthy that in such research work, in other to validate the study, the supervisors are usually required to call 10 to 25 percent of the respondents to inquire whether the field workers actually conducted interviews.

Remember, if such control policies are not in place, the field workers may not be performimg their duties, that is why the supervisors make such calls to monitor the field workers performance.

Claire is a human resource manager at Lewis Corp. She skillfully handles personal interactions with her staff and the other department managers. She is highly admired by others in the organization because she treats others with respect and builds trust. This scenario indicates Claire has strengths in the HR success competency of

Answers

Answer:

D. relationship management.

Explanation:

Relationship management refers to managing the relationship with the audience, employees, etc. In this the relationship is developed between the organization and the external parties, clients, customers, etc

Here in the question it is mentioned that the Claire is highly admired as she respects other people and also develops the trust in the organization

so here the strength is the relationship management

What conflict of interest information must be made available by institutions on a public website or within five business days upon request?

Answers

Answer:

The financial conflicts of interest of senior or key personnel on PHS-funded projects.

Explanation:

According to United States of America Public Health Service, institutions are compelled to present a conflict of interest information on a public website or within five business days upon request. his is to assess or to determine if a substantial financial interest is connected or not to an investigator's research and composes a financial conflict of interest.

Hence, the right answer is The financial conflicts of interest of senior or key personnel on PHS-funded projects.

Sarah notices a sign in the window of a clothing store advertising a major sale on coats. realizing that she needs a new coat, sarah enters the store, chooses a coat that she feels represents good value for the price, and buys it. this stage in the exchange process is known as the _____.

Answers

Answer:

transaction

Explanation:

Transaction is the confirmation that an exchange has taken place. Before a transaction could be consumated, there must be at least two or more persons that are involved. Transaction means that a deal has been made such as receiving value for payment of product purchased.

With regards to the above, transaction is the right answer because after money has been exchanged with the products purchased, the confirmation that the exchange actually took place is transaction.

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