Jasper is single and is a computer software consultant with a college degree. He feels that one of the reasons for his success is that he continually updates his knowledge by taking classes at the local college in various areas related to software design and information technology. This year he spent $2,000 on course tuition and fees.
Assuming Jasper has AGi of $92,000, how much lifetime learning credit can Jasper claim on his tax return?
Assuming Jasper has AGI of $45,000, how much lifetime learning credit can Jasper claim on his tax return?
Answers
Since his AGI is above the phase-out limit of $69,000 for a single filer, he cannot claim the credit. Jasper can claim a Lifetime Learning Credit of $400 on his tax return.
1. Assuming Jasper has an AGI of $92,000, the Lifetime Learning Credit he can claim on his tax return would be calculated as follows: Since his AGI is above the phase-out limit of $69,000 for a single filer, he cannot claim the credit.
2. Assuming Jasper has an AGI of $45,000, the Lifetime Learning Credit he can claim on his tax return would be calculated as follows: Since his AGI is below the phase-out limit of $69,000 for a single filer, he can claim the full credit. The credit is 20% of the first $10,000 in qualified tuition and fees, so in this case, 20% of $2,000 (tuition and fees) is $400. Therefore, Jasper can claim a Lifetime Learning Credit of $400 on his tax return.
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Related Questions
American Airlines paid the television producer to be a part of the show. This is known as ...
Answers
Which phrase best completes the diagram?
A) Unlimited liability
B) Few employees
C) Complex regulations
D( Multiple owners
Answers
Answer:
D) Multiple owners
Explanation:
if it's a partnership there's more than one owner and if it's a corporation, controlled by shareholder"S" then i don't know, they'd both have multiple owners in common??
Multiple owners best complete the diagram. The correct option is D.
How is ownership divided in a partnership?Profits, liabilities, and management responsibilities are assumed to be distributed equally among partners in general partnerships. If you choose an unequal distribution, the partnership agreement needs to specify the percentages that were given to each partner.
A corporation is a type of business organization that is owned by shareholders, who own a portion of the company through the purchase of stocks or shares. Because a corporation is owned by multiple shareholders, it is a form of business that is considered to be separate from its owners, or shareholders, in terms of legal liability and management.
This means that the corporation can enter into contracts, own assets, and be sued or sue others in its own name, rather than in the name of its individual shareholders. The shareholders of a corporation elect a board of directors, who are responsible for making decisions about the management and direction of the company.
Thus, the ideal selection is option D.
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The Davis family purchased a house last year. They put $20,000 towards a down payment and took out a $265,000 mortgage. Because it was a new home, all the repairs and maintenance were covered under the builder’s warranty, but the Davises want to budget this coming year for unexpected expenses. When estimating costs for home repair and maintenance, a good estimate is to budget 1% of the purchase price of a house. What would be a good yearly estimate of repairs and maintenance for the Davis family’s home? a. $28,500 b. $2,650 c. $2,850 d. $200.
Answers
Budgeting is the earning of the estimated income and its expenditure on various bills and daily utilities. For maintaining a balance of income, budgeting is done so that expenses do not exceed the income.
$2,850 is a good yearly estimate of repairs and maintenance for the Davis family’s home.
How to estimate repair and maintenance?Given,
Down Payment = $20,000Mortgage = $265,000Purchase price of the house = $285,0001% of the purchase price is budgeted for repair and maintenance (X) and will be estimated as:
\(\begin{aligned} 1\% &= \dfrac{\rm X}{\$285000} \times 100\\ \\ \rm X &= \dfrac{1\% \times \$285000}{100\%}\\ \\ \rm X &= \$ 2850\end{aligned}\)
Therefore, option c. $2850 is the repair and maintenance cost.
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What is a factor that increases the volatility of demand in industrial markets? Multiple Choice Professional buyers in the industrial market tend to make independent purchase decisions. Derived demand accelerates changes in markets. Small, noncyclical swings in supply are inherent in industrial markets. The ratio of input to output is high for industrial goods. The demand for industrial goods is inelastic.
Answers
Answer:
Derived demand accelerates changes in markets.
Explanation:
Derived demand can be defined as the way in which the demand for a good or service tend to result from the demand for the related good or service and this occured when their is the demand for either good that are tangible or intangible goods where a market exists for both related goods and services.
In another word Derived demand occured in a situation where the demand for one good or service happens because of the want for another good or service Example is increase in the need for Shoes material or equipment because of the increase in the need for Shoes
because the factor of production by a company is dependent on the demand by consumers for the product produced by that company which is why the transition to become demand-driven is slowly occurring in many industries.
Hence, The factor that increases the volatility of demand in industrial markets is "Derived demand accelerates changes in markets"
Compute the degree of operating leverage at a particular level of sales and explain how it can be used to predict changes in net operating income.
Answers
The degree of operating leverage at a particular level of sales is calculated by dividing the contribution margin by net operating income.
The degree of operating leverage (DOL) is a multiple that evaluates how much a company's operating income changes in response to changes in sales.
Companies with a high proportion of fixed costs (or costs that do not change with production volume) to variable costs (costs that change with production volume) have greater operating leverage.
The DOL ratio helps analysts determine the impact of a change in sales on a company's earnings or profit.
The sensitivity of net operating income to percentage changes in sales is measured by the degree of operating leverage.
Determine how a percentage change in sales volume affects profits at any given level of sales.
Sensitivity is higher because of a lower net income, increased fixed expenses, and increased commissions.
Hence, The degree of operating leverage at a particular level of sales is calculated by dividing the contribution margin by net operating income.
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outcomes of an economic system are influenced by the prevailing economic system. environmental factors. policy factors. all of the above. only a and c are correct.
Answers
Which are among Washington’s top five manufacturing export industries? Select three options.
[] aerospace.
[] automobiles.
[] petroleum oils.
[] ultrasonic scanning apparatus.
[] textiles and clothing.
Answers
Answer:
aerospace like boeing
computers like microsoft
chemical like dow
ultrasonic scanning apparatus like fujifilm
textiles like filson
chatgpt
military bases are VERY important to local economies because they hire a lot of people & because of that are a lot of business serve them like restaurants
Washington state bases
Joint Base Lewis-McChord
Naval Base Kitsap
Fairchild Air Force Base
Yakima Training Center
Coast Guard Sector Puget Sound
Porter Corporation has fixed costs of $660,000, variable costs of $24 per unit, and a contribution margin ratio of 40 percent.Compute the following:a. Unit sales price and unit contribution margin for the above product.b. The sales volume in units required for Porter Corporation to earn an operating income of $300,000.c. The dollar sales volume required for Porter Corporation to earn an operating income of $300,000.
Answers
The computed values are as follows:
A. Unit sales price: $60 per unit
Unit contribution margin: $36 per unit
B. Sales volume in units required for an operating income of $300,000: 26,667 units
C. Dollar sales volume required for an operating income of $300,000: $1,600,020
To compute the requested values, we can use the information provided and apply relevant formulas:
A. Unit sales price and unit contribution margin:
Unit sales price = Variable cost per unit / Contribution margin ratio
Unit sales price = $24 / 0.40
Unit sales price = $60 per unit
Unit contribution margin = Unit sales price - Variable cost per unit
Unit contribution margin = $60 - $24
Unit contribution margin = $36 per unit
B. Sales volume in units required for an operating income of $300,000:
Operating income = (Sales volume in units × Unit contribution margin) - Fixed costs
$300,000 = (Sales volume in units × $36) - $660,000
(Sales volume in units × $36) = $960,000
Sales volume in units = $960,000 / $36
Sales volume in units = 26,667 units
C. Dollar sales volume required for an operating income of $300,000:
Dollar sales volume = Sales volume in units × Unit sales price
Dollar sales volume = 26,667 units × $60
Dollar sales volume = $1,600,020
Therefore, the computed values are as follows:
A. Unit sales price: $60 per unit
Unit contribution margin: $36 per unit
B. Sales volume in units required for an operating income of $300,000: 26,667 units
C. Dollar sales volume required for an operating income of $300,000: $1,600,020
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the ___________ sales presentation format trains salespeople to recognize specific cues?
Answers
The consultative sales presentation format trains salespeople to recognize specific cues.
This approach involves the salesperson asking questions and listening to the customer's responses in order to fully understand their needs and tailor the presentation to meet those needs.
By paying close attention to the customer's verbal and nonverbal cues, the salesperson can better understand their interests, concerns, and motivations, which can then be used to craft a persuasive presentation that speaks directly to the customer's unique needs.
This approach requires a lot of preparation, research, and active listening skills, but it can lead to more successful sales outcomes and stronger customer relationships.
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Which of the following decisions is most likely to create a temporary diseconomy of
scale? (Select the best answer.)
A)Buying supplies in bulk
B)Buying an expensive piece of machinery
C)Hiring employees who specialize
D)Using division of labor
Answers
Answer:
Buying an expensive piece of machinery
Explanation:
how has technology changed communication over the past decade?
Answers
Answer:
Explanation:
Advancements in technology and changes in communication generally go hand in hand. Landlines displaced the telegraph and cell phones replaced landlines. The arrival of the internet opened new doors of personal communication. E-mails replaced postal mails and social media took the place of text messages
You invest $500 in a fund that has shown to have a mean annual increase of $120 per year. If you leave your initial
investment in the account, and invest no additional funds, how much will your account be worth at the end of 25 years?
a) $1,200
b) $2,500
c) $3,500
d) $3,800
Answers
The investment of $500 in a fund, the account at the end of 25 years would be $3,500. The appropriate response is option C.
What is investment?A purchase made with the intention of creating income or capital growth is known as an investment. An asset's value increasing over time is referred to as appreciation. When a person makes an investment, they do not intend to utilize the product immediately; instead, they intend to use it to build wealth in the future.
Stocks, bonds, and cash equivalents are the three main categories into which investments are often divided. Within each category, there are several distinct kinds of investments.
The investment of $500 in a fund, the account at the end of 25 years-
120x25=3000+500=3,500
Hence, option C is an appropriate response.
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Mikayla asked 10 of her friends how many hours of TV they watch in a week. Three of her friends said 8 hours, two of her friends said 9 hours, two of her friends said 11 hours, one of her friends said 12 hours, and two of her friends said 14 hours. Mikayla wanted to make a dot plot of the data she gathered. In what order would she create the dot plot? Draw a number line from 8 to 14. Show the frequency of each number. Title the dot plot. Show the frequency of each number. Title the dot plot. Draw a number line from 8 to 14. Title the dot plot. Show the frequency of each number. Draw a number line from 8 to 14. Show the frequency of each number. Draw a number line from 8 to 14. Title the dot plot.
Answers
Answer:A
Explanation:
Draw a number line from 8 to 14 . Show the frequency of each number.Title the dot plot.
Answer:
I think the answer is A, like the first person said.
Explanation:
How can one improve customer service?
One can obtain regular
from customers to devise effective strategies.
Answers
arm and hammer baking soda which was originally developed as a cooking ingredient, is now being sold as an effective refrigerator deodorizer. this is an example of __________ innovation.
1. positioning
2. process
3. distributed
4. associative
Answers
Answer:
The first one is the answer. Positioning.
You have just deposited $10,500 into an account that promises to pay you an annual interest rate of 6.4 percent each year for the next 5 years. You will leave the money invested in the account and 15 years from today, you need to have $29,750 in the account. What annual interest rate must you earn over the last 10 years to accomplish this goal?
Answers
Answer:
7.59%
Explanation:
Calculation for What annual interest rate must you earn over the last 10 years to accomplish this goal
Future value required=[Amount of deposit*(1+6.4%)^5]*(1+I)^10
$29,750=[$10,500*(1+6.4%)^5]*(1+I)^10
$29,750=[$10,500*(1+0.064)^5]*(1+I)^10
$29,750=[$10,500*(1.064)^5]*(1+I)^10
$29,750=[$14,318.497198]*(1+I)^10
(1+I)^10=[$29,750/$14,318.497198]
(1+I)^10=2.077732013
(1+I)=2.077732013^(1/10)
(1+I)=1.07586791
Hence, annual interest rate will be:
Interest rate, I=(1.07586791-1)*100
Interest rate=0.07586791*100
Interest rate=7.586791%
Interest rate=7.59% (Approximately)
Therefore the annual interest rate that you must earn over the last 10 years to accomplish this goal is 7.59%
Harris tree owns and operates a gaming center and completed the following transactions during April 2021, its first month of operations. Journalize the transactions
Answers
Recording the date, the accounts you're debiting or crediting from, and a short description of the transaction itself are all parts of keeping track of all your commercial transactions, or journalizing them.
How do you Journalize and post transactions?A business transaction is journalized when it is recorded in accounting records. Maintaining records calls for commitment and knowledge, especially for accountants. Every business process is documented chronologically in a journal, commonly referred to as a Book of Original Entry.
Identifying the account as well as the type of account is the first step. Choosing whether each account increases or decreases is the second stage. The third step is to journalize the transaction. Accumulated depreciation is the entire amount of depreciation and amortisation that has been applied to an asset since it was first used.
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20 points!
Which phrase best completes the table?
Monopoly
Benefits- has lower production costs
?
Drawbacks- allows for little competition between businesses
May lead to price fixing
A. Promotes innovation and entrepreneurship
B. Is less likely to be regulated by the government
C. Has more money for research and development
D. Makes a greater variety of products available to consumers
Answers
Monopoly has more money for research and development is the phase that best completes the table.
What is a monopoly?A monopoly is when one business holds a dominant position within an industry or a sector to the exclusion of all other serious competitors.
Monopolies are frequently discouraged in countries with free markets. They are viewed as causing price gouging and declining quality because consumers have few other options. They can also concentrate money, authority, and influence in the hands of a single person or a small group of people.
On the other hand, governments may support and even impose monopolies for some basic services like utilities.
The lack of competition that characterizes a monopoly can result in high costs for consumers, subpar goods and services, and dishonest corporate practices.
A business that controls a certain market or industry may take advantage of that status at the expense of its clients. It has the ability to control prices, fudge supply and demand, and produce fake scarcities. It may make it difficult for new competitors to enter the market and prevent experimentation or the creation of novel products. The consumer is at its mercy because they have no other option but to choose a competitor.
Markets that have been monopolized frequently turn unjust, uneven, and ineffective.
Because they either control the majority of the market for their product or are the only provider of it, monopolies often have an unfair advantage over their rivals. Monopolies may vary from one business to another, although they frequently have the following traits in common:
High entry barriers because a single company controls the market, competitors cannot enter it.There is only one seller in the market at this time.Price maker- The business with the monopoly can set the price for its goods without worrying that a rival will undercut it. Prices may be raised at will by a monopoly.A monopoly may purchase enormous quantities of the raw materials it requires at a volume discount thanks to economies of scale. Then, it can reduce its costs so drastically that smaller rivals won't be able to compete.
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hi, need answers for these
questions
Taiichi Ohno originally assembled what he thought were the "7 Deadly Wastes" most commonly found in an organisation. (3 marks) i. Identify the "7 Deadly Wastes" as defined by Taiichi Ohno. (4 marks) i
Answers
Answer: Transportation, inventory, motion, awaiting, overprocessing, excessive production, and defects are the "7 Deadly Wastes" that Taiichi Ohno named.
Explanation:
These wastes were recognised by Taiichi Ohno, the inventor of the Toyo Production System, as impediments to effective production and value generation.
Transportation is the term used to describe the pointless movement of goods or resources.
Inventory is overstock that consumes resources and may result in waste.
Motion is defined as unneeded movement or worker actions that do not advance the production process.
Waiting denotes wasted time or gaps in the flow of production that lead to inefficiency.
Overprocessing refers to the addition of more value than is required or desired by the client.
Overproduction results in waste and surplus inventory when more is produced than is necessary.
Products or processes with defects need to be reworked or discarded since they don't fulfil quality requirements.
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______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answers
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
Total output is increasing but marginal product of labor is decreasing. This is an example of...
Answers
Which of the following is not a positive impact of globalization?
Increased cooperation between countries.
Loss of jobs in the home country.
Increased competition leads to more efficiently run businesses.
Wider variety of products available to consumers.
Answers
Answer:
Loss of jobs in the home country
Explanation:
Losing jobs is a bad impact that multiple things including globalization can have.
I hope this helps :D
_____ is a mechanism for gathering information about performance deficiencies as they occur. a. Feedback control b. Concurrent control c. Proactive control d. Feedforward control
Answers
Answer:
A. Feedback control
Explanation:
generally accepted accounting principles regulated how and what financial information is reported by
Answers
Answer:
GAAP PRINCIPLES
Explanation:
1 . Historical Cost Rule
2. Business Entity Rule
3. Materiality principle
4. Matching principle
5. Prudence
6 . Going concern
In 1979, the federal minimum wage in the United States was $2.90 per hour. By 2019, that number increased to $7.25 an hour. While there is a clear increase in the minimum wage in dollars, it is hard to compare the two figures without knowing more about how the economy changed between 1979 and 2019.In this activity, we will explore different ways to compare the value of money across different time periods. Economists define inflation as the rise of price levels in the economy over time. The average yearly rate of inflation between 1979 and 2019 was 3.2%. That means prices of goods and services went up by an average of 3.2% every year between 1979 and 2019.
Determine the 2019 value of the 1979 minimum wage if it had grown at the same rate as the CEO compensation.
Answers
The 2019 value of the 1979 minimum wage if it had grown at the same rate as the CEO compensation is $9.64 an hour.
How to determine minimum wageTo determine this value, we must first calculate the rate of inflation between 1979 and 2019. The average yearly rate of inflation between 1979 and 2019 was 3.2%, meaning prices of goods and services went up by an average of 3.2% every year between 1979 and 2019.
Next, we need to calculate the increase in the value of the 1979 minimum wage over the forty-year period. To do this, we must take the 1979 minimum wage ($2.90) and multiply it by 1.032 (the rate of inflation for every year between 1979 and 2019). This calculation gives us the value of the 1979 minimum wage in the year 1980 ($2.99). We must repeat this calculation for every year from 1980 to 2019, and then add all of the results together.
This calculation will give us the 2019 value of the 1979 minimum wage. In the year 2019, the minimum wage was $7.25 an hour. This is a difference of $2.39 from the calculated value of the 1979 minimum wage. To understand why the difference exists, we must consider the growth of CEO compensation between 1979 and 2019.
During this period, the average annual growth rate of CEO compensation was 7.58%. This is more than double the rate of inflation and indicates that the CEO compensation has grown significantly faster than the minimum wage.
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Which of the following curves is not U-shaped?
Multiple Choice
a. MC
b. AFC
c. AVC
d. ATC
Answers
The AFC curve is not U-shaped. It is a downward-sloping curve that continuously decreases as output increases. This is because fixed costs are spread over a larger quantity of output as production increases, leading to a decrease in average fixed cost.
On the other hand, the other curves mentioned in the options are U-shaped:
a. MC (Marginal Cost) curve: It initially decreases, reaches a minimum point, and then starts increasing. It is U-shaped because marginal costs tend to decrease as production increases due to economies of scale and then increase due to diminishing returns and diseconomies of scale.
c. AVC (Average Variable Cost) curve: It is also U-shaped. It decreases initially due to economies of scale and then increases due to diminishing returns and diseconomies of scale.
d. ATC (Average Total Cost) curve: It is U-shaped because it is the sum of AFC and AVC. As AVC and AFC curves intersect, the ATC curve reaches a minimum point and then starts increasing.
Therefore, the correct answer is b. AFC.
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For both articles, what can you tell me about the values of Harvard and Entrepreneur?
Answers
The article referenced is "If you want to be an entrepreneur, don't go to Harvard.
What are the values of the Harvard Graduate viz a- viz that of the Entrepreneur?Regardless of the size of the organization, "Core Values" should be prioritized. Values direct the path of business, influencing strategy and decision making. Essentially, basic principles serve as the foundation around which we develop our firm. Core Values provides several advantages to the firm.
Students at Harvard have access to classes, research institutions, and faculty mentors from around the university. It's the ideal location to explore your favorite and yet-to-be-discovered academic interests, with world-renowned teachers, cutting-edge resources, and personalized training.
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Which of the following would be an argument for the use of net book value in the computation of operating assets in return on investment calculations?
A. It allows the manager to replace old, worn-out, equipment with a minimum adverse impact on ROI
B. It allows ROI to decrease over time as assets get older
C. It is consistent with how plant and equipment items are reported on the balance sheet
D. It eliminates both age of equipment and method of depreciation as factors in ROI computational
Answers
Net book value would be an argument for the use of net book value in the computation of operating assets in return on investment calculations because it d. eliminates both age of equipment and method of depreciation as factors in ROI computational.
Net book value is a measure of a company's assets on its balance sheet, which is calculated as the book value of the assets minus accumulated depreciation. Net book value is sometimes known as the net asset value (NAV) or the carrying value. Net book value is essential in evaluating a company's assets because it gives a more precise representation of the company's assets than simply accounting for the original purchase price.
It also takes into account the asset's depreciation over time and any impairments or losses that may have occurred. When calculating ROI (Return on Investment), net book value is essential. Because it eliminates both age of equipment and method of depreciation as factors in ROI computational.
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An active primary market for the creation of new securities and the presence of plenty of buyers and sellers are all most indicative of _____.
an efficient monetary policy
a national economy
a competitive marketplace
sound financial management
Answers
An active primary market for the creation of new securities and the presence of plenty of buyers and sellers are all most indicative of a competitive marketplace. Thus, option C is correct.
What is the market?Markets are places where individuals, businesses, and industries transact, whether it be for the purpose of purchasing, producing, or providing services. they use it n order earning profits.
As there are various suppliers in the market, there is a face lot of people have various options from which the person could buy.
Customer competition is fueled by a competitive market. This implies that consumers struggle among others to purchase a commodity, particularly when inventory is low. Therefore, option C is the correct option.
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why is south africa regarded as a developing country
Answers
Answer:
This is due to the fact that South Africa is currently in a state of poverty and has very high unemployment rates, meaning there are a lot of poor people on the streets and it is uneasy/many do not have jobs either.
Explanation: