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Luba_88 [7]
2 years ago
11

Mandy deposited $3000 into a 401(k) that grew to $5000 by retirement. if mandy is currently in the 10% tax bracket and retired,

how much tax will she have to pay in taxes when she withdraws the entire $5000?
Business
2 answers:
aleksandr82 [10.1K]2 years ago
5 0

Actually the current tax bracket of 10% only accounts for Mandy’s current income. Everyone has a tax bracket based on the entire income that year. However in Mandy’s case, her income will increase by $5,000 if she withdraw the entire $5,000. Therefore the tax bracket should also increase since her total income increased.

However, since no additional data is available, let us assume that the withdrawal of the entire $5,000 would not affect the current tax bracket of 10%.

Calculating for the tax to pay = 10% of $50,000

= 0.10 * $50,000

= $5,000

<span>Therefore Mandy will pay $5,000 in tax and she will be left by $45,000.</span>

Veseljchak [2.6K]2 years ago
5 0

the answer is 500 bucks my dude have a nice day cheaters

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Omicore Softworks, a software development firm, undertook a project that involved developing a bespoke accounting software for a
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Answer:

J-shaped curve

Explanation:

Project life cycle is the cycle or the phase, where the project goes or dealt with the initiation to its closure. In short, it can be defined and modified as per the aspects and the needs or requirements of the company.

J- shaped curve, is the curve which has the life cycle curve, that is convex to the baseline at the finish or end of the life of the project. And the curves runs or move parallel to the y axis.

Under this situation, the scenario of the project is J-shaped curve.

6 0
2 years ago
Return to Problem Navigation Morgan Company uses the perpetual inventory system and the gross method of recording sales discount
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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
Norma Company had 10,000 units in work in process at January 1 that were 50 percent complete. During January, 25,000 units were
ZanzabumX [31]

Answer:

b. 29,800.

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Number of units out in January =  25,000 units completed during month  + 80% of 6,000 units completed at month end  

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= 29,800  

5 0
2 years ago
Read 2 more answers
On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,2
Svetradugi [14.3K]

Answer:

$31,100

Explanation:

On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300.

Therefore the amount of stockholders’ equity as of May 31 of the current year can be derived by the formula : Capital = Assets - Liabilities

<u>Assets</u>

Cash $20,500;

Accounts Receivable, $7,250;

Supplies, $650;

Equipment, $12,000

TOTAL = 40,400

<u>Liabilities</u>

Accounts Payable, $9,300.

Therefore stockholders’ equity = 40,400 - 9,300 = $31,100

7 0
2 years ago
Market demand for rhododendrons in Ann Arbor is given by D(p) = 120 - 3p and the market supply is S(p) = 3p - 30. Show all your
telo118 [61]

Answer: The answer is price is 15 equilibrium quantity is 75 Consumer surplus is 60 Producer surplus is 90

Explanation:

D=120-3P

S= 3P - 30

At equilibrium Qd=QS

120-3P=3P-30

Collect like terms

120-30=3P+3P

Divide both sides by 6

90/6=6P/6

15=P

P=15

Substitute the value of P into equation 1

120-3 (15)

120-45

=75

To calculate the consumer surplus

Equilibrium quantity-Price

75-15

=60

To calculate producer surplus

Equilibrium quantity +Price

75+15

=90

6 0
2 years ago
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