In 2017, Congress passed a bill that affects the tax rates of individuals and businesses between the years 2018 through 2025. It's called the Tax Cuts and Jobs Act, or TCJA. People often refer to the law as tax reform. One change is the standard deduction increased from $6350 to $12,000 for single filers, from $9350 to $18,000 for heads of households, and from $12,700 to $24,000 for married couples filing a joint return. Deductions for personal and dependent exemptions, which allowed taxpayers to deduct $4050 each for themselves, their spouses, and any dependents, were eliminated completely.

Research online another way the law changed taxes. Use the search terms "2017 tax reform major changes." Use the information about standard deductions and your research to respond to the following prompts.

What impact will the change in standard deductions have on a taxpayer? Use mathematical reasoning as part of your response.

How will the change in standard deductions affect families differently than single taxpayers?

Identify one other change in the tax law.

What effect will this change have on the average taxpayer?

Each month, business today publishes a news piece about an innovative product, service, or business. such soft news is generally written by a freelance business writer and is known as a

What has caroline's payment history been like? support your answer with two examples

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya.jan. 3purchased on account 350 widgets for $11 each.b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c.jan. 10purchased on account 625 widgets for $12 each.d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company.e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered.f.jan. 13paid for the purchases made on jan. 3.g.jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h.jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition.i.jan. 25received payment for the sale made on jan. 5.j.jan. 26paid for the purchases made on jan. 10.k.jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."