Paul and Maggie are married and want to file a joint return. • Maggie is a U. S. citizen and has a valid Social Security number. Paul is a resident alien and has an ITIN. They resided in the United States all year with their children. • Paul and Maggie have two children, Cheryl, age 4, and Mike, age 15. Cheryl and Mike are U. S. citizens and have valid Social Security numbers. • Paul earned $18,000 in wages. • Maggie earned $20,000 in wages. • In order to work, the Thomases paid child and dependent care expenses of $3,500 for their daughter Cheryl to attend Busy Bee Child Care. • Paul and Maggie provided all of the support for their two children. • Paul and Maggie declined to receive advance payments for the Child Tax Credit. 1. What is the maximum amount Paul and Maggie are eligible to claim for the child tax credit?

a. $3,000 b. $3,600 c. $6,000 d. $6,600

2 How much of the child care expenses can be used to claim the child and dependent care credit?

a. $3,500 b. $3,000 c. $1,500 d. $0

Which organization was established to train the hard-core unemployed? - better business bureau- equal employment opportunity commission- environmental protection agency- affirmative action committee- national alliance of business

Journalize the following transactions that occurred in september 2015 for aquamarines. no explanations are needed. identify each accounts payable and accounts receivable with the vendor or customer name. sep. 3 purchased merchandise inventory on account from shallin wholesalers, $5,000. terms 1/15, n/eom, fob shipping point. 4 paid freight bill of $80 on september 3 purchase. 4 purchased merchandise inventory for cash of $1,700. 6 returned $500 of inventory from september 3 purchase. 8 sold merchandise inventory to hermosa company, $6,000, on account. terms 2/15, n/35. cost of goods, $2,640. 9 purchased merchandise inventory on account from thomas wholesalers, $8,000. terms 2/10, n/30, fob destination. 10 made payment to shallin wholesalers for goods purchased on september 3, less return and discount. 12 received payment from hermosa company, less discount. 13 after negotiations, received a $200 allowance from thomas wholesalers. 15 sold merchandise inventory to jordan company, $2,500, on account. terms 1/10, n/eom. cost of goods, $1,050. 22 made payment, less allowance, to thomas wholesalers for goods purchased on september 9. 23 jordan company returned $400 of the merchandise sold on september 15. cost of goods, $160. 25 sold merchandise inventory to smithsons for $1,100 on account that cost $400. terms of 2/10, n/30 were offered, fob shipping point. as a courtesy to smithsons, $75 of freight was added to the invoice for which cash was paid by aquamarines. 26 after negotiations, granted a $100 allowance to smithsons for merchandise purchased on september 25. 29 received payment from smithsons, less allowance and discount. 30 received payment from jordan company, less return.

Jamie is saving for a trip to europe. she has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 6 percent. a. if jamie were to withdraw the $1,600 from her savings account to finance the trip, how much interest would she forgo? .b. if jamie borrows the $1,600 how much will she pay in interest? c. how much does the trip cost her if she borrows rather than dip into her savings?