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dybincka [34]
2 years ago
10

An individual who has completed college has been working for 9 years and is now 30 years old. He is thinking about returning to

school in a few years to complete his masters degree and wants to set up a 529 Plan with himself as the beneficiary. Can he do this? A. No, because the donor and the beneficiary must be different persons in a 529 Plan B. No, because 529 Plans cannot be opened after age 30 C. No, because 529 Plans must have an independent trustee D. Yes
Business
1 answer:
victus00 [196]2 years ago
6 0

Answer:

D Yes

Explanation:

An uncommon aspect of 529 Plans is that both donor and receiver can be the same person. There is no age restriction on who may be the beneficiaries of the account. This person may themselves open a 529 plan and be both the donor and the beneficiary.

Therefore from the above explanation the correct answer is D

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Carey, a single taxpayer, purchased a rental house in 2018, which he actively manages. During 2018, Carey had a loss of $14,000
noname [10]

Answer:

$6,000

Explanation:

First, Carey's allowable deductions repersents 'real estate loss allowance. The real estate loss allowance is an allowance or tax reduction made available to taxpayers who are also owners of rental properties in the U.S.

The specific allowance states that if the adjusted gross income of the owner of the rental property  is $100,000 or less, then the taxpayer is allowed a deduction of $25,000. However, this begins to reduce as the adjusted gross income approaches $150,000 and the allowance is completely eliminated when the income exceeds $150,000

Based on this explanation, Carey's Adjusted Gross Income= $138,000, higher than $100,000 but less than $150,000

The calculation= 50% ($150,000- maximum allowable adjusted gross income- $138,000 - Carey's reported adjusted gross income)

=0.50 ($12,000)

= $6,000

7 0
2 years ago
Total fixed costs for Green Planes Inc. are​ $150,000. Total​ costs, including both fixed and​ variable, are​ $600,000 if​ 140,0
ki77a [65]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Total fixed costs for Green Planes Inc. are​ $150,000. Total​ costs, including both fixed and​ variable, are​ $600,000 if​ 140,000 units are produced.

First, we need to calculate the unitary variable cost:

Unitary variable cost= (total cost - fixed cost) / number on units

Unitary variable cost= (600,000 - 150,000)/ 140,000= $3.21 per unit

Now, we can calculate the total variable cost for 230,000 units:

Total variable cost= 3.21*230,000= $738,300

8 0
2 years ago
Daniels Corporation uses the step-down method to allocate service department costs to operating departments.
larisa86 [58]

Answer:

C 503,980 dollars

Explanation:

\left[\begin{array}{ccccc}&General&Physical&Sales&After-sales\\$General&&2,000&27,000&14,000\\$Physical&1,000&&38,000&7,000\\$Direct \: Cost&36,550&70,300&412,500&480,880\\$Allocate G&-36,550&1,700&22,950&11,900\\$Subtotal&0&72,000&435,450&492,780\\$Allocate P&0&-72000&60,800&11,200\\$Total&&&496,250&503,980\\\end{array}\right]

We determinate each service deparment rate:

general: 36,550 / (2,000 + 27,000 + 14,000) = 0.85

we then assign cost of general department and repeat the process for physical

then for physical we do the same:

72,000 / (38,000 + 7.000) = 1.60

5 0
2 years ago
How do you measure a rabbi's performance? Congregations often struggle with this problem, and they end up looking at actions, no
Lostsunrise [7]

Find full question attached

Answer:

Behavior control

Explanation:

The above is example of behaviour control from the question. The congregation aims to measure the Rabbi's performance through watching and observing his actions/behaviours and not necessarily focused on the outcome of these actions/behaviours. Behavior control  is opposed to  output control in an organization whereby the performance of an employee is measured by the target reached and not necessarily behaviours observed through supervision,standard procedures, project status reports etc

3 0
2 years ago
Return to Problem Navigation Morgan Company uses the perpetual inventory system and the gross method of recording sales discount
Ghella [55]

Amount to be recorded for accounts receivable would be $15000.

<u>Explanation:</u>

Accounts receivable are lawfully enforceable cases for installment held by a business for products provided as well as administrations rendered that clients/customers have requested yet not paid for. These are for the most part as solicitations raised by a business and conveyed to the client for installment inside a concurred time span.

Accounts receivable (AR) is the balance of money due to a firm for goods or services delivered or used but not yet paid for by  the customers till now. So they will go in the accounts to still be receivable.

6 0
2 years ago
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