BUSINESS COLLEGE

Sammy and Monica, both age 67, incur and pay medical expenses in excess of insurance reimbursements during the year as follows: For Sammy $16,000
For Monica (spouse) 4,000
For Chuck (son) 2,500
For Carter (Monica’s father) 5,000
Sammy and Monica’s 2019 AGI is $130,000. They file a joint return. Chuck and Carter are Sammy and Monica’s dependents.
What is Sammy and Monica’s medical expense deduction for regular income tax purposes?

Answers

Answer 1
Answer:

Answer:

The Sammy and Monica’s medical expense deduction for regular income tax purposes is $17,750.

Explanation:

For the purpose of regular income tax, the deduction pertaining to medical expenses are available up to the extent it exceeds 10% of AGI.

Deduction available = excess expenses incurred - 7.5% of AGI

                                 = ($16,000  + 4,000  + 2,500+5,000) - 7.5%*130000

                                  = 27500 - 9.750

                                  = $17,750

Therefore, The Sammy and Monica’s medical expense deduction for regular income tax purposes is $17,750.

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Your boss at Xiangling Hu Products, Inc., has just provided you with the schedule and lead times for the bracket in Problem 3. The unit is to be prepared in week 10. The lead times for the components are bracket (1 week), base (1 week), spring (1 week), clamp (1 week), housing (2 weeks), handle (1 week), casting (3 weeks), bearing (1 week), and shaft (1 week).a) Prepare the time-phased product structure for the bracket.
b) In what week do you need to start the castings?

Answers

Answer:

Explanation:

A) The time-phased product structure for the bracket is attached as a document.

B) The casting will start on week 5 and week 9.

Should individuals have to pay more in taxes than large corporations?

Answers

In 2017, human beings paid $1,587.12 billion in income tax. Corporations paid $297.048 billion. We bloodbags still paid a lot more than the moneymaking business entities, but it was only about five times more instead of the eight times more we are now paying.

Fund to Retire Bonds At the beginning of 2019, Shanklin Company issued 10-year bonds with a face value of $1,000,000 due on December 31, 2028. Shanklin wants to accumulate a fund to retire these bonds at maturity by making annual deposits beginning on December 31, 2019. Required: How much must Shanklin deposit each year, assuming that the fund will earn 12% interest a year compounded annually

Answers

Answer:

$56,984

Explanation:

We can find the Annuity value by using the annuity formula which is as under:

Future Value = Annuity Value * Annuity Factor

Here

Future Value given is $1,000,000

Annuity Factor at 12% for 10 year bond = [1 - (1 + 12%)^10] / 12%  = 17.548735

By putting values in the formula given above, we have:

$1,000,000 / 17.548735  = Annuity Value

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Answers

Answer:

the correct answer is

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good luck

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Answers

Ryan needs to take care of his expenses.  He is not settled yet and frequent relocation to different cities in a short career as a bartender is definitely not efficient.

Sam on the other hand does know how to manage his finances and need not have special attention.

  • Personal finance management is a quality every individual should imbibe in himself and should inculcate following it in the long run.

  • Ryan might experience cash crisis sooner if he doesn't start saving from his limited income that he has because in case of emergency he might have to depend upon credits which by far is the worst debt someone can get himself into.

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Hence, Ryan needs to get long term care insurance for himself and secure any emergencies that might occur.

To know more about personal finance, click the given link below.

brainly.com/question/5501460

Answer -Ryan

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The following data pertains to Xena Corp.: Xena Corp. Total Assets $23,610 Interest-Bearing Debt (market value) $11,070 Average borrowing rate for debt 10.2% Common Equity: Book Value $ 6,150 Market Value $25,830 Marginal Income Tax Rate 37% Market Beta 1.73 Determine the weight on equity capital that should be used to calculate Xena's weighted-average cost of capital. Select one: A. 73.8%
B. 70.0%
C. 24.0%
D. 38.7%

Answers

Answer:

Option (B) is correct.

Explanation:

Given that,

Total Assets = $23,610

Interest-Bearing Debt (market value) = $11,070

Average borrowing rate for debt = 10.2%

Common Equity:

Book Value = $6,150

Market Value = $25,830

Marginal Income Tax Rate = 37%

Market Beta = 1.73

Hence,

Weight on equity capital = Equity ÷ (Debt + Equity)

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                                         = 25,830 ÷ 36,900

                                         = 70%

Therefore, the weight on equity capital is 70%.
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