What is Robbie tax liability

Assignment Help Accounting Basics
Reference no: EM133071618

Question - Robbie is 18 and a dependent on his parent's return. His income consists of interest of $1,300 and $2,500 from being a lifeguard. What is Robbie's 2020 tax liability?

a. $95

b. $295

c. $-0-

d. $130

e. $250

Reference no: EM133071618

Questions Cloud

What the ending retained earnings balance after closing : The retained earnings account before closing had a balance of $311,000. What the ending retained earnings balance after closing
Value-based care is trend : Value-based care is a trend that seems to be gaining momentum but alone is not curbing the cost of health care.
What is the value of u for richard smith : Suppose the following is the true population model of the effect of Return on Assets (ROA) on CEO salary: Annual CEO Salary = ß0 + ß1Annual ROA + u. Further, su
What is the firm weighted average cost of capital : The firm is financed with debt and equity. The book value of the debt is $10,000,000; the book value of the equity is $30,000,000. The stockholders require an 1
What is Robbie tax liability : Robbie is 18 and dependent on his parent's return. His income consists of interest of $1,300 and $2,500 from being lifeguard. What is Robbie 2020 tax liability
What is the firm weighted average cost of capital : The firm is financed with debt and equity. The book value of the debt is $10,000,000; the book value of the equity is $30,000,000.
What are the operating cash flows in year : Johnny's Lunches is considering purchasing a new, energy-efficient grill. The grill will cost $33,000 and will be depreciated straight-line over 3 years.
What is dollar profit : Using 60% margin, you decide to sell 100 shares of Builtrite short at a current price of $57 a share. Later, Builtrite is selling for $54 a share.
Calculate the effect of the change in the discount rate : Calculate the effect of the change in the assumed discount rate on the PBO at the beginning of 2022 with respect to Davenport

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd