Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

Martin and Rachel are married and have a 3-year-old child. Martin is going to medical school full-time for 12 months of the year and Rachel earns $45,000. Their child is in day care so Martin can go to school while Rachel is at work. The cost of their day care is $10,000. What is their child and dependent care credit? Please show your calculations and describe. Be sure to consider any and all limitations on the credit allowed.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M966786

Have any Question?


Related Questions in Accounting Basics

Qestion - a racing bike is listed for 129344 less 18 9

Question - A racing bike is listed for $1293.44 less 18 %, 9 %, and 3%. a. What is the net price? b. What is the total amount of discount that was allowed? c. What is the exact single rate of discount that was allowed?

Question - on december 31 2017 sage company signed a

Question - On December 31, 2017, Sage Company signed a $1,023,100 note to Pronghorn Bank. The market interest rate at that time was 11%. The stated interest rate on the note was 9%, payable annually. The note matures in ...

Question - a few members in the circular club do not want

Question - A few members in the Circular Club do not want to continue with annual rodeo. However, Shelly is insistent the club must continue to conduct the rodeo as an annual fundraiser. Shellley aegues she has spent hun ...

Question - the following information relates to rem corps

Question - The following information relates to Rem Corp's accounts receivable for 2015: Accounts receivable, 1/1/15 $ 500,000 Credit sales for 2015 2,000,000 Sales returns for 2015 60,000 Accounts written off during 201 ...

Question - during 2014 robbys camera shop had sales revenue

Question - During 2014, Robby's Camera Shop had sales revenue of $170,000, of which $75,000 was on credit. At the start of 2014, Accounts Receivable showed a $16,000 debit balance, and the Allowance for Doubtful Accounts ...

Question - the following transactions are july activities

Question - The following transactions are July activities of Bill's Extreme Bowling, Inc., which operates several bowling centers. a. Bill's collected $21,600 from customers for services related to games played in July. ...

Question - at december 31 2016 grouper corporation reported

Question - At December 31, 2016, Grouper Corporation reported current assets of $384,870 and current liabilities of $206,100. The following items may have been recorded incorrectly. 1. Goods purchased costing $22,150 wer ...

Question - shanklin corporations unadjusted trial balance

Question - Shanklin Corporations unadjusted trial balance as of June 30, 2018 is as shown below: DEBIT Cash 13000, AR 1500, Prepaid Insurance 600, Supplies 3800, Equipment 30000, Dividends 4800, Wages Expense 14000..... ...

Intermediate product cost calculationfrom the information

Intermediate: Product cost calculation From the information given below you are required to: (a) Prepare a standard cost sheet for one unit and enter on the standard cost sheet the costs to show sub-totals for: (i) prime ...

Question - dole industries had the following inventory

QUESTION - Dole Industries had the following inventory transactions occur during 2017:     Units Cost Unit Feb. 1, 2017 Purchase 90 $90 Mar. 14, 2017 Purchase 155 $94 May 1, 2017 Purchase 110 $98 The company sold 255 uni ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As