1. John (age 66) and Mary (age 59) Smith are married and file a joint federal tax return. They have 2 dependent children in college ages 20 & 22. John and Mary have the following information for 2019: Income:

John’s Salary $ 120,000
Mary’s Salary $ 80,000
Interest Income from taxable bonds $ 8,000
Proceeds from a life insurance policy $ 50,000
(John’s aunt passed away)
Deductions:
Alimony paid to Mary’s ex-spouse $ 25,000 (pre 1/1/19 divorce)
Itemized deductions Charitable donations $ 5,000
NJ State Income Tax $ 11,000
Real Estate Taxes $9,000John had $ 19,500 in federal withholding tax withheld from his pay, while Mary had 12,000 withheld. A – Calculate the Smith’s 2019 Gross Income. B - Calculate the Smith’s 2019 AGI.

Which of the following best describes the economic effect that results when the government increases interest rates and restricts the lending of money? a. borrowing money becomes more expensive and there is less investment in production. b. the economy grows as investments result in larger profits. c. government spending drives up prices because of greater competition for goods and services. d. consumers save more money and spend less buying goods and services.

The following account balances at the beginning of january were selected from the general ledger of fresh bagel manufacturing​ company: work in process inventory ​$0 raw materials inventory $ 29 comma 000 finished goods inventory $ 40 comma 900 additional​ data: 1. actual manufacturing overhead for january amounted to $ 62 comma 600. 2. total direct labor cost for january was $ 63 comma 600. 3. the predetermined manufacturing overhead rate is based on direct labor cost. the budget for the year called for $ 255 comma 000 of direct labor cost and $ 382 comma 500 of manufacturing overhead costs. 4. the only job unfinished on january 31 was job no.​ 151, for which total direct labor charges were $ 5 comma 700 ​(1 comma 000 direct labor​ hours) and total direct material charges were $ 14 comma 400. 5. cost of direct materials placed in production during january totaled $ 123 comma 300. there were no indirect material requisitions during january. 6. january 31 balance in raw materials inventory was $ 35 comma 200. 7. finished goods inventory balance on january 31 was $ 35 comma 400. what is the cost of goods manufactured for​ january

Why do you think the compensation plans differ at the two firms? in particular, why do you think kaufmann’s pays commissions to salespeople, while parkleigh does not? why does parkleigh offer employees discounts on purchases, while kaufmann’s does not?