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Alenkasestr [34]
3 years ago
13

Van and her brother Trung both own homes valued at $175,000. Both pay property taxes at 1.25% and pay annual taxes of $2,187.50.

They live in different neighborhoods. Van’s property value is expected to increase by 5% next year.Trung’s property value is expected to increase by 3%. How will these changes affect their property taxes? Check all that apply. Van’s property tax will increase. Trung’s property tax will be less than Van’s. Trung’s property tax will decrease compared to Van’s. Van’s property tax will be less than Trung’s. Trung’s property tax will increase.
Business
2 answers:
Alecsey [184]3 years ago
3 0

Answer: Van's property tax will increase.

Trung's property tax will be less than Van's.

Trung's property tax will increase.

Explanation: Van’s property tax will increase because the value of his home is expected to increase more than Trung’s property value. Since Van’s property value is increasing and increasing more than Trung’s, Trung’s will be less than Van’s. Trung’s property tax is increasing due to the value increasing.

Alla [95]3 years ago
3 0

Answer:

Van's property tax will increase.

Trung's property tax will be less than Van's.

Trung's property tax will increase.

Explanation:

Property tax is the amount of money that you have to pay the government just because of the fact of owning property, and how much you pay depends specifically on how much is your property valued at, so if you have a more expensive property you will have to pay more percentage in taxes, and if it is valued at a lower point you´d have to pay less taxes, so from the options if Vans property is valued higher than Trung and it increases its value more than Trung´s he will have to pay more in property taxes, as well as that of Trungs, but Van´s property tax will be more than that that Trungs will pay, eventhough both increase.

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The following information relates to a company’s accounts receivable:
notka56 [123]

Answer:

1. $31,000

2. $40,000

Explanation:

1. Computation of bad debt expenses for the year

Bad debt expenses = Credit sales × Bad debts expenses

= $1,550,000 × 2%

= $31,000

2. Computation of year end balance

Year end balance = Beginning balance + Bad debt expense - Written off

= $31,000 + $31,000 - $22,000

= $40,000

Therefore for computing the bad debt expenses and year end balance we simply applied the above formula.

6 0
3 years ago
If a frozen pizza plant is the cost object, classify each of the following costs as direct or indirect, respectively: property i
emmainna [20.7K]

Answer:

Indirect

Direct

Iindirect

Explanation:

Direct cost is the cost that can be traced back to the cost object whereas the indirect cost cannot be traced back. Cost object is something to which the costs are assigned. in this case the cafeteria workers are directly working with the cost object:Frozen pizza plant, hence the cost is directly associated with that. Janitorial supplies and property insurance cost does not directly relate to The cost object given here so it will be classified as indirect cost.

3 0
2 years ago
Read the scenario and answer the question that follows: rochelle sets the goal, "to increase my business writing grade from a 45
Margarita [4]
Rochelle sets the​ goal, "To increase my Business Writing grade from a 45 to a 95 in the next two​ weeks, I will study six hours a day and submit four drafts of the next assignment for​ feedback." 
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5 0
3 years ago
PA9.
meriva

Complete Question:

PA9.

LO 7.3 Fit band's estimated sales are:

                                                                    $

OCTOBER                                         131,982

NOVEMBER                                         195,723

DECEMBER                                         249,283

JANUARY                                         124,298

FEBRUARY                                         124,284

MARCH                                                  124,373

What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?

Answer:

                                                           JANUARY   FEBRUARY   MARCH

Amount received from November sales    19,572

Amount received from December sales    62,321        24,928  

Amount received from January sales        80,794        31,075       12,430

Amount received from November sales  <u>               </u>     <u>              </u>      <u> 31,071 </u>

TOTAL                                                     <u>$162,687 </u>    <u>$56,003</u>     <u>$43,501 </u>

<u />

Explanation:

The balances calculated are based on the following formula:

Amount received = Sales Figure of that month * Percentage

65% in the month of sale is received, 25% in the next month and the residual is received in the second month after sales

For the month of November:

65% of its total sales will be received in november, 25% in the next month(December) and the residual 10% in the second month after sale(January). Likewise for the month of January, we see in the computation that 65% of sales was received in the same month, 25% in the next month February and the residual 10% in the second after sale which is in March.

3 0
3 years ago
Billie transferred her 20 percent interest to Jean Company as part of a complete liquidation of the company. In the exchange, sh
7nadin3 [17]

Answer:

A) $200,000 loss recognized by Jean and a basis in the land of $200,000 to Billie

Explanation:

The computation is shown below:

For loss recognized, the amount would be

= Land basis - fair value of land

= $400,000 - $200,000

= $200,000

And, the basis in the land should be equal to the fair value of the land i.e $200,000

Hence, the correct option is A

By dividing the fair value from the land basis we can get the loss recognized

3 0
3 years ago
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