Answer:
The correct answer is $7,650.
Explanation:
According to the scenario, the computation of the given data are as follows:
Gross income from business $75,000
Business deductions (Less) $80,000
Interest and dividend income (Add) $22,000
Gross income $17,000
Standard deduction (Less) $5,700
Exemption (Less) $3,650
Net Taxable income $ 7,650
So, the net taxable income is $7,650.
Answer:
negative is the answer for first
It’s better to buy a home instead of renting a home because when you rent, your paying someone else’s mortgage! Whereas when you buy a home, you’re paying your own mortgage not someone else’s. It’s also better to buy a house because when you rent, you can’t change anything about the house because it’s essentially not yours. For example, if you wanted to plant s tree in the backyard of your rented house, you wouldn’t be able too because it’s not your yard. Whereas if you bought your house, you could do whatever you want to it because it’s yours.
I hope this helped! :-)
Answer:
Option (C) is correct.
Explanation:
EBT means Earnings Before Tax, so you ignore the tax rate for this problem.
Then solve for the EBT figure.
EBT:
= Revenue - Operating costs - Depreciation - interest
= $18,500 - $8,250 - $1,750 - ($9,000 x 7%)
= $18,500 - $8,250 - $1,750 - $630
= $7,870
Therefore, $7,870 was the firm's earnings before taxes (EBT).
