Harry and Wilma are married and file a joint income tax returm. On their tax reftun, they report $152,000 of adusted gross uncome ($101,000 salary earmed by Harry and $51,000 salary earned by Wilma) and claim two exemptions for theer dependent children During the year, they paid qualifying expenses for child care of $17.000 total for their two chiktren ages 4 and 6 while they work Harry and Wilma may claim a credit for child and dependent care expensers of O so O $6,120 O $8,000 O $5,760

Q: Do question 6

A: Balance sheet is a type of financial statements that show the financial balances of any company at…

Q: What is crj

A: Crj means cash receipt journal .

Q: 5. What information is shown on a W-2 statement?

A: W-2 is very important for paying the taxes and preparing the the income tax return and it is…

Q: Define and expain

A: Detailed Explanation of Nursing1. Patient Care:Direct Care: Nurses provide hands-on care to…

Q: Question 25

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: explain the the benifts of IFRS9

A: The international financial reporting standard 9 is generally specifying how a particular…

Q: Read and interpret anincome statement.

A: It shows the income generated by the company.

Q: A figured out

A: Pre determined Overhead rate Calculation  Overhead cost  $      28,80,000 Divided By  Direct…

Q: What is the SML? What is the CAPM? What is the APT?

A: Security Market Line (SML):The Security Market Line (SML) is a graphical representation of the…

Q: All of problems 3

A:

Q: hat is APY

A: In interest there is compounding and other is simple interest. In the compouding there is interest…

Q: WHAT'S THE ANSWER TO D, E AND F?

A: Given, Net nonoperating obligations (NNO) Return on equity (ROE) Nonoperating return component of…

Q: how this 0.625 comes ?

A: Coupon bond comes with semiannual coupons at a certain rate.  This is the amount of cash received in…

Q: Define Volcker rule

A: Volcker Rule is a regulation that implies restrictions on the banks to involve in the stock market…

Q: 17. What are the key features of ERISA?

A: The Employee Retirement Income Security Act of 1974 (ERISA) is a federal statute that provides basic…

Q: What is CAPM? How about APT?

A: CAPM and APT are two common models for pricing used in finance. These are explained below.

Q: What the agi

A: AGI means Adjusted Gross Income. It is the total income on which income tax payable would be…

Q: Define the term realization principle.

A: Accounting: Accounting refers to the information system, where the economic activities of a…

Q: 1. Descibe JIT production and its features.

A: Just in time production represents the reduction in labor, material, and time so that the cost could…

Q: Define unicorn

A: The term Unicorn in finance was popularized by Aileen Lee, a popular venture capitalist &…

Q: Define regulation D

A: The Accounting Standards are specific set of principles and procedures set by the authorized bodies…

Q: Define agent

A: Introduction: An agent is a party that has oral or written authority to perform for another…

Q: 3 Calculate WACC

A: Weighted average cost of capital (WACC) is used as a hurdle rate for evaluating capital investment…

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.