Reference no: EM132813161
Question - Jane and Ed Rochester are married with a two-year-old child who lives with them and whom they support financially. In 2020, Ed and Jane realized the following items of income and expense:
Item Amount
Ed's Salary $55,000
Jane's Salary 34,400
Interest income on their saving account 600
Municipal bond interest income 400
Lottery winning 6,000
Dividend received from GE stocks 500
Jane received alimony from her ex 1000
Jane received gift from her aunt 3000
Alimony paid to Ed's ex-wife (7,000)
Child support paid to Ed's ex-wife (5,000)
Real property tax (10,000)
Home mortgage interest expenses (6,000)
Gambling loss (4500)
Their employers withheld $1,800 in federal income taxes and $800 state income tax from their paychecks (in the aggregate). Please answer the following questions:
a. What is the couple's gross income?
b. What is the couple's adjusted gross income (AGI)?
c. What is the couple's itemized deduction?
d. What is the couple's taxable income?
|
Calculate the gross private domestic investment
: Suppose that GDP=500; personal consumption expenditure=400, private saving=50, government purchases of goods and services=50, imports=20 and exports=30.
|
|
Which alternative should the firm choose
: The larger job shop has fixed costs of $12,000 per month and variable costs of $6 per unit. Which alternative should the firm choose
|
|
What is the overall effect on equilibrium price
: Describe how these changes affect the supply of and demand for gasoline. What is the overall effect on equilibrium price?
|
|
How much will be created in the form of deposits and loans
: Suppose $5 million in new excess reserves appear in the banking system. How much will be created in the form of deposits and loans?
|
|
What is the couple adjusted gross income
: Their employers withheld $1,800 in federal income taxes and $800 state income tax from their paychecks. What is the couple adjusted gross income
|
|
Write definition of interdisciplinary literacy
: Literacy is an area that crosses all content curriculum. Without mastery of reading and writing skills, many students will struggle to learn and demonstrate.
|
|
Level of profit earned by a firm
: Consider what is likely to happen to the level of profit earned by a firm if barriers to entry are introduced in a perfect market.
|
|
Describe about amazon stock for the company
: Amazon stock, describe the Company. What does it do? (Don't spend too much time explaining each line of product). Brief history and major recent events
|
|
How will you establish inclusion and competence
: How will you establish inclusion, attitude, meaning, and competence in your Instructional Plan project? Why is it important to consider possible summative.
|