Answers
Answer:
-$1,800
Explanation:
Given that
Tax liability = $1,700
Prepayment made = $1,500
Child tax credit = $2,000
The computation of tax refund is given below:-
= Tax liability - (Prepayment made + Child tax credit)
= $1,700 - ($1,500 + $2,000)
= $1700 - $3500
= -$1,800
Therefore, from the above calculation simply we subtract tax liability from prepayment and child tax credit.
Related Questions
In the case below, the original source material is given along with a sample of student work. Determine the type of plagiarism by clicking the appropriate radio button. Original Source Material Student Version To summarize, the elaboration model of instruction starts by presenting knowledge at a very general or simplified level in the form of a special kind of overview. Then it proceeds to add detail or complexity in "layers" across the entire breadth of the content of the course (or curriculum), one layer at a time, until the desired level of detail or complexity is reached. References: Reigeluth, C. M. (1999). The elaboration theory: Guidance for scope and sequence decisions. In C. M. Reigeluth (Ed.), Instructional design theories and models: A new paradigm of instructional theory (Vol. II, pp. 425-453). Hillsdale, NJ: Lawrence Erlbaum. They soon switched to a model based on the elaboration theory (Reigeluth, 1999). Using this approach, the game would begin with a level that offered the simplest version of the whole task (the epitome); subsequent levels would become increasingly more complex--an approach common to videogames--with opportunities for review and synthesis. References: Reigeluth, C. M. (1999). The elaboration theory: Guidance for scope and sequence decisions. In C. M. Reigeluth (Ed.), Instructional design theories and models: A new paradigm of instructional theory (Vol. II, pp. 425-453). Hillsdale, NJ: Lawrence Erlbaum. Which of the following is true for the Student Version above? a)Word-for-Word plagiarism b)Paraphrasing plagiarism c)This is not plagiarism
(a) On March 2, Sage Hill Company sold $891,900 of merchandise to Oriole Company on account, terms 3/10, n/30. The cost of the merchandise sold was $527,400. (b) On March 6, Oriole Company return $114,400 of the merchandise purchased on March 2. The cost of the merchandise returned was $64,100. (c) On March 12, Sage Hill Company received the balance due from Oriole Company.
Determine proper classification (LO11-1) Analysis of an income statement, balance sheet, and additional information from the accounting records of Gadgets, Inc., reveals the following items. Required: Select the section of the statement of cash flows in which each of these items would be reported: operating activities (indirect method), investing activities, financing activities, or a separate noncash activities note.1. Purchase of a patent. 2. Depreciation expense 3. Issuance of a note payable 4. Increase in inventory
Sherry, who is 52 years of age, opened a Roth IRA three years ago. She has contributed a total of $13,200 to the Roth IRA ($4,400 a year). The current value of the roth IRA is $18,350. In the current year, Sherry withdraws $16,000 of the account balance to purchase a car. Assuming Sherry is in a 25 percent marginal tax bracket, how much of the $16,000 withdrawal will she retain after taxes to fund her car purchase?Amount of withdrawal __________ ?Non-taxable amount __________ ?Amount subject to tax __________ ?tax rate ________ ?penalty rate __________ ?tax _________ ?penalty _________ ?after tax withdrawal retained ____________ ?
Answers
Answer:
Complexity ⇒ electric cars are affected by complexity. Chargers for electric cars are not easily found in small cities, which makes it difficult for people living on small towns to own an electric car.
Compatibility ⇒ when Apple launched the iPad, most of its consumers already owned an iPhone which made their use much more simple, natural and compatible.
Relative advantage ⇒ hybrid cars are much more fuel efficient than regular gas cars and that is an advantage when consumers are comparing the costs of owning and using a car.
Trialability ⇒ free lotion samples given away in supermarkets are an example of trialability. Potential consumers can use try them and if they like them they will purchase them. Another example is the one month free trials for online services.
Observability ⇒ when Apple launched the first iPhone, the Blackberrry phone was the most popular. But as people were able to observe the advantages of the iPhone, they quickly changed their phones.
Answers
Answer:
True.
Explanation:
The cable company will not have any incentive to cut costs. This is because it knows that its costs will be averaged to determine the average cost to which a certain percentage is then added to arrive at the selling price. Having the cost averaged in this way will not motivate the cable company to seek cost minimization strategies that it could use to increase its income.
Final answer:
The statement is false. Under the average-cost pricing policy, the cable company has the incentive to cut costs to potentially lower prices and increase market share.
Explanation:
False, under the average-cost pricing policy, the cable company does have incentives to cut costs. The average-cost pricing policy allows the firm to set the price equal to the average cost of production. If the cable company can lower its cost of production, it will be able to lower the price it charges, which could potentially increase its market share and profits. Consider an example where economies of scale come into play: if each firm produced at a higher average cost due to building their own power lines, they would raise prices to cover this cost. However, if a firm found a way to reduce the cost of power lines or production in general, they could lower their prices in comparison to other firms. This demonstrates the incentive for cost-cutting under average-cost pricing.
Learn more about average-cost pricing policy here:
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A cabana along beach that is open to the public
A new sUV that you use to drive your friends around town
A large, beautiful fountain in a town square
Answers
Answer: Please refer to Explanation
Explanation:
Private Goods are those goods that exclusive and excludable. This means that people can be prevented from using it by the owners if the people who want to use it don't pay for it or reach an agreement with the owner.
A Public Good on the other hand is provided to every member of the public for use. They are non-excludable meaning that people can use them without having to pay a fee.
Common Resources are a mixture of both man-made and natural resources. As such, even though it is open to the public, it's use can be restricted by certain requirements such as payment.
Classifying the above,
A. Common Resource.
The Cabana is a common Resource because it is open to all members of the public and is a man-made resource on the beach which is a public good. However, one must pay to use it as well.
B. Private Good.
The SUV is your own personal property and as such is a private good whose use you can restrict from people making it exclusive and excludable.
C. Public Good.
The fountain is for everyone and no one has more right to it than others. Neither do they have to pay to view it. This makes it a Public good.
Answers
Answer:
a) rate of return = 0.095 = 9.5%
b) rate of return = 0.147143 = 14.7143%
Explanation:
a) using the constant growth model:
therefore
b) using the working from above, we showed that
given g= 10%, P0=28 and D0=1.2
b. inventory must be counted at the end of each accounting period.
c. inventory does not have to be counted. (It can be taken from the accounting records.)
d. inventory levels must be counted every day.
Answers
Answer:
The correct answer is letter "B": inventory must be counted at the end of each accounting period.
Explanation:
The Periodic Inventory System is an approach of keeping track of the inflows and outflows of the inventory of a company after determined periods. Starting the year, companies using this inventory method count the number of items in their inventory which will vary during the course of a period and by the end of it another count is made to find out the difference between the starting and ending inventory. The calculation helps to find out the Cost of Goods Sold by the firm (COGS).
JERGAN CORPORATION
Balance Sheet
December 31
2017 2016 2015
Cash $30,000 $20,000 $18,000
Accounts receivable (net) 50,000 45,000 48,000
Other current assets 90,000 95,000 64,000
Investments 55,000 70,000 45,000
Plant and equipment (net) 500,000 370,000 358,000
$725,000 $600,000 $533,000
Current liabilities $85,000 $80,000 $70,000
Long-term debt 145,000 85,000 50,000
Common stock, $10 par 320,000 310,000 300,000
Retained Earnings 175,000 125,000 113,000
$725,000 $600,000 $533,000
JERGAN CORPORATION
Income Statement
For the Year Ended December 31
2017 2016
Sales revenue $740,000 $600,000
Less: Sales return and allowances 40,000 30,000
Net sales 700,000 570,000
Cost of goods sold 425,000 350,000
Gross profit 275,000 220,000
Operating expenses 180,000 150,000
Net income 95,000 70,000
Additional information:
1. The market price of Jergan's common stock was $7.00, $7.50, and $8.50 for 2012,
2016, and 2017, respectively.
2. You must compute dividends paid. All dividends were paid in cash.
Instructions
(a) Compute the following ratios for 2016 and 2017.
(1) Profit margin. 5. Price-earnings ratio.
(2) Gross profit rate. 6. Payout ratio.
(3) Asset turnover. 7. Debt to assets ratio.
(4) Earnings per share.
Answers
Answer:
Please see below
Explanation:
1. Profit margin = Net profit / Net sales
2016 - Profit margin
= (70,000 / 570,000) * 100
= 12.28%
2017 - Profit margin
= (95,000 / 700,000) * 100
= 13.57
2. Gross profit rate = Gross profit / Net sales
2016 - Gross profit rate
= (220,000 / 570,000) * 100
= 38.60%
2017 - Gross profit rate
= (275,000 / 700,000) * 100
= 39.29%
3. Asset turnover = Net sales / Average total assets
2016 - Asset turnover
= (570,000 / [(600,000 + 533,000) / 2 ]
= 570,000 / 566,500
= 1.01 times
2017 - Asset turnover
= (700,000 / [(725,000 + 600,000) / 2 ]
= 700,000 / 662,500
= 1.06 times
4. Earnings per share = Net income / Outstanding shares
2016 - Earnings per share
= 70,000 / (310,000/10)
= 70,000 / 31,000
= $2.26 per share
2017 - Earnings per share
= 95,000/ (320,000/10)
= 95,000 / 32,000
= $2.97 per share.
5. Price earnings ratio = Market value per share / EPS
2016 - price earnings ratio
= 7.50 /2.26
= 3.32 times
2017 - price earnings ratio
= 8.50/2.97
= 2.86 times
6. Payout ratio = Dividend per share / Net income or earnings per share × 100
2016 - payout ratio
=
7. Debts to assets ratio = Total liabilities / Total assets
2016 - Debts to assets ratio
=