what is needed to qualify for earned income credit

Q: Need answer help me

A: Explanation of Fixed Assets:Fixed assets are long-term tangible assets that a company uses in its…

Q: Please give Answer

A: Explanation of Work in Process (WIP) Inventory: WIP Inventory represents the value of products that…

Q: Please want answer of this Question

A: The price-earnings (P/E) ratio is calculated using the formula:P/E Ratio = Price per Share /…

Q: Need Help Please Provide Solution of this Question now

A: If you have any problem let me know in the comment section thank you.

Q: None

A: Step 1: Define Cost of Goods ManufacturedThe cost of goods manufactured shows the total expenses…

Q: Hi expart give answer the accounting question do fast

A: Step 1:- Introduction to the Tax LiabilityCorporate tax liability would be the amount of corporate…

Q: Help me tutor

A: Explanation of Variable Cost per Machine Hour: Variable cost per machine hour represents the cost…

Q: None

A: Formula: PV = FV ÷ (1 + r)nGiven:Present value (PV) = ?Future value (FV) = $450Interest rate (r) =…

Q: Which financial statement shows how equity changed during the year? a) Balance Sheet b) Income…

A: Explanation of Balance Sheet:The balance sheet is a financial statement that provides a snapshot of…

Q: A company's budgeted variable overheads for a period amounted to $24,000...

A: Step 1: Define OverheadOverhead consists of variable and fixed costs that cannot be directly…

Q: Financial accounting

A: Step 1: Raw Material PurchasedGiven Information: Raw materials purchased on account is…

Q: Factor Company is planning to add a new product to its line. To manufacture this product, the…

A: To analyze the new product line and the associated machine purchase, we will go through the…

Q: Answer in step by step with explanation. Don't use Ai.

A: 1 &2)Calculation of the amount of premium paid by the employee and employer   Total Premium%…

Q: hrs

A: Under the straight-line method of depreciation, the annual depreciation expense is computed by using…

Q: Parker plumbing has received a special one time order for 1,400 faucets at $3 per unit....

A: Step 1: Define Break-even PointA break-even point is when a manufacturing company computes a certain…

Q: Answer

A: Explanation of Gross Margin: Gross margin represents the difference between total sales revenue and…

Q: What is the gross profit margin for this accounting question?

A: Step 1: Define Sales DiscountWhen the commodities or merchandise is purchased, the seller gives the…

Q: Financial accounting Question

A: Explanation of Financing Activity:Financing activities in the Statement of Cash Flows involve…

Q: Which of the following is true under the accrual basis of accounting? a) Revenues are recorded when…

A: Explanation of Accrual Basis of Accounting: The accrual basis of accounting is a method where…

Q: gpl

A: Step 1: Calculate Total Units Available and Total Cost for Each Purchase:Beginning Inventory: 590…

Q: NEED Answer please General Accounting

A: Step 1: Define Operating Cash Flow:Operating cash flow is responsible for the highest amount of cash…

Q: vsh

A: In accounting, a liability is defined as an obligation of an entity arising from past transactions…

Q: Mini-Exercise 12-3 (Algo) Prepare a contribution margin format income statement LO 12-7 Eastern…

A: Guide:start with the total revenues generated in August= units sold x selling price per unit= 8,000…

Q: Shahia Company bought a building for $81,000 cash and the land on which it was located for $122,000…

A: Journal Entry:TransactionGeneral JournalDebitCreditaLand$125,000  Building$117,000  Cash…

Q: What amount should be reflected in the reconciliation of the fund balance sheet to the…

A: In governmental accounting, the fund balance sheet and the government-wide statement of net position…

Q: ESTIMATION AND RECORDING OF UNCOLLECTIBLE ACCOUNTS - PERCENTAGE OF CREDIT SALES RECEIVABLE METHOD…

A: First, we need to calculate the estimated bad debts based on the given percentage of sales. This is…

Q: Financial Accounting

A: Step 1: Define Stock PriceThe market price of the stock depends upon the investor's perceptions of…

Q: Need help please this accounting question

A: Step 1: Define Degree Of Operating LeverageThe degree of operating leverage shows the relationship…

Q: Lyon Group's income before taxes is $420,000 and its tax rate is 40%. Lyon included $50,000 in fines…

A: The first step is to identify the taxable income. In this case, Lyon Group's income before taxes is…

Q: Which principle states that financial statements should be based on verifiable or factual…

A: Explanation of Objectivity Principle:The Objectivity Principle requires that all financial…

Q: provide answer with explanation of this General Accounting Question

A: Step 1: Price-Earnings Ratio (P/E Ratio) Definition:The price-earnings (P/E) ratio is a financial…

Q: Don't use AI.

A: Additional notes for the presentation / discussion:Here's an example:If estimated overhead is…

Q: Our Play has (14.24, 9.86) days of sales tied up in receivables, which is much (higher, lower) han…

A: Our analysis compares key asset management ratios for Like Games Inc. and Our Play Inc., two…

Q: The adjusted trial balance of Bennett Company contained the following information: Sales Revenue…

A: To prepare a multiple-step income statement for Bennett Company for the year ended December 31,…

Q: Provide Solution with Correct option there is given in the Question

A: Step 1: Define Sales and Expenses:Sales and expenses are interconnected; when a company generates…

Q: General accounting.Solving this

A: Step 1: Definition of Interest Payable on Notes:The interest payable on a note issued is calculated…

Q: Explanation

A: Option a: This option is incorrect because owner withdrawals decrease assets (cash) and equity…

Q: Please Need Help

A: Given InformationBeginning WIP inventory: 4,911 units (60% complete)Units added: 39,807Units…

Q: Using the percentage-of-completion method and the cost-to-cost basis, prepare the journal entry to…

A: The percentage of completion is calculated by dividing the costs incurred to date by the total…

Q: 4 Comprehensive income includes all changes in equity during a period EXCEPT  ______________…

A: Detailed explanation: Comprehensive income is a measure that shows all the net changes in a…

Q: A business purchases a new building for $250,000, and also spends $20,000 on renovations. What is…

A: Approach to solving the question:Freeform Detailed explanation: When a business purchases a new…

Q: What is the debt to equity ratio for the general accounting question ?

A: Step 1: Define Debt to Equity RatioThe debt to equity ratio is a financial ratio that expresses an…

Q: General Accounting Question Solve please

A: To find the average tax rate, we need to calculate the company's taxable income and then the tax it…

Q: Question 8

A: Explanation of Work in Process (WIP) Inventory: Work in Process Inventory refers to goods that are…

Q: Financial Accounting

A: Step 1: Define Net IncomeWithin a firm, the net income represents the remainder amount of revenue…

Q: ??

A: Step 1:Accrued expenses:Accrued expenses are those expenses which has been incurred in current…

Q: Need help with this accounting problem

A: Step 1: Define Investment IncomeIncome which is earned due to amount invested into financial…

Q: Business 123 Introduction to Investments May I please have the solution for the following assigment?…

A: The assignment specifically analyzes the significance of simple moving averages (SMA), a common…

Q: Use the cash flow statement of Apple inc company to develop a cash budget for three months which is…

A: I used the following procedures to make this three-month financial budget:Annual Cash Flow…

Q: Accurate Option

A: Explanation of Cost of Equipment: The cost of equipment refers to the total amount spent to acquire…