The person that benefits from deducting the amount paid in state income tax from their income for purposes of computing federal income tax is option a: Everyone who must pay state income tax.
<h3 /><h3>What are Income tax in the United States?</h3>
Income taxes in the United States is known to be a kind of a tax that is often imposed by the federal government, as well as a lot of states.
Note that the income taxes are said to be set by applying a tax rate as income increases, and as such,
Therefore, The person that benefits from deducting the amount paid in state income tax from their income for purposes of computing federal income tax is option a: Everyone who must pay state income tax.
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Answer:
($35 million + $12 million) / $70 million = 0.6714
Explanation:
Answer:
Please refer to the attached file
Explanation:
Please refer to the attached file.
Note that Asset must equal equity plus liability
Selection Funnel Process should be decided by the organisation to have good candidates that would help to Grow the business.
Explanation:
1. Positive Attitude -. The candidate should have a optimistic thinking towards every situation he/she faces.
2. Cooperative/Teamwork - The candidate should have the sportsman spirit to be able to work under or above as a team.
3. Creative -The candidate should have a create mind so as to innovate and give new ideas , suggestion that help the company to grow.
Given:
July 1 borrowed money from eight national bank on 8-month, 40,000, 5% note.
Interest and principal is all due on February 28
No journal entries were made.
Recognizing cash and notes payable.
Debit Credit
Cash 40,000
Notes Payable 40,000
Interest on Notes payable
Interest Expense 1,333
Interest Payable 1,333
Recognizing interest owed but not yet paid.
40,000 * 5% * 8/12 = 1,333
On February:
Notes Payable 40,000
Interest Payable 1,333
Cash 41,333
