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Gre4nikov [31]
3 years ago
7

Kana is a single wage earner with no dependents and taxable income of $205,000 in 2018. Her 2017 taxable income was $155,000 and

tax liability was $36,382. Calculate Kana's 2018 income tax liability and the minimum required 2018 annual payment necessary to avoid any penalty. Round your answers to two decimal places.What is Kana's 2018 income tax liability
Business
1 answer:
garri49 [273]3 years ago
5 0

Answer:

$47439.50

Explanation:

For a single tax payer if your taxable income range is $200,000 - $500,000 then your income tax is $45,689.50 + 35% of amount over $200,000 of taxable income.

Income tax liability = $45689.50+{ 205000-200000)×35%}

$45689.50+(5000×35/100)

$45689.50+(5000×0.35)

$45689.50+1750

= $47439.50

The income tax liability will be $47439.50

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What is the only bone in the human body not connected to another bone?
Gemiola [76]

Answer:

Hyoid bone

Explanation:

The hyoid is anchored by muscles from the anterior, posterior and inferior directions, and aids in tongue movement and swallowing.

4 0
2 years ago
In most transactions, the buyer is accepting the condition of the property at what point in time:_________
Dmitriy789 [7]

Answer:

b. At the signing of the contract

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent and it is at this point they (buyer and seller) sign the contract. Therefore, mutual assent connotes agreement, acceptance and consent to a contract by both parties.

<em>Hence, in most transactions, the buyer is accepting the condition of the property at the signing of the contract as an approval or consent to the terms and conditions. </em>

7 0
3 years ago
Last year a city received notice of a $150,000 grant from the state to purchase vehicles to transport physically challenged indi
Slav-nsk [51]

Answer:

The answer is: $0

Explanation:

Government entities have to record grant revenue during the period that they occur. The city received notice of this grant last year, so they recorded the grant revenue in last year's financial statements. If they recognize any grant revenue this year, it must come from a new grant.

7 0
3 years ago
Home-Baked Bread Company hires Ike to sell the company’s products in a certain area. Home-Baked Bread agrees to pay Ike a salary
Vaselesa [24]

Answer: The control the company has over Ike's job details.

Explanation:

The Home-baked bread company and Ike share something in common which is the fact that Ike is an employee of the company and also he is to be paid by the company.

As an employee of the bread company, they still control Ike's job role and can decide to vary or maintain his current job role depending on what the company desires to achieve. Also if he doesn't meet up to some target he can still be laid off, due to the fact that he is still on his trial period.

3 0
3 years ago
Vijay Inc. purchased a 3-acre tract of land for a building site for $420,000. On the land was a building with an appraised value
PtichkaEL [24]

Answer:

$433,900

Explanation:

The computation of the capitalized cost of the land is shown below:-

Capitalized cost of the land = Purchase price + Demolition of building + Title insurance + Attorney fee + Property taxes covered during the period - Scrap value from the building

= $420,000 + $12,000 + $900 + ($3,000 - $500) - $1,500

= $420,000 + $12,000 + $900 + $2,500 - $1,500

= $435,400 - $1,500

= $433,900

5 0
2 years ago
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