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lutik1710 [3]
3 years ago
12

Mitch, a single taxpayer, earns $100,000 in taxable income and $10,000 in interest from an investment in city of Birmingham Bond

s. Using the U.S. tax rate schedule for year 2020, what is his average tax rate (rounded)

Business
1 answer:
omeli [17]3 years ago
3 0

Answer: $18,079.5‬0

Explanation:

The tax is to be paid on the $100,000 alone as the $10,000 is municipal interest and is therefore tax exempt.

Taxes on the $100,000 in 2020;

= 14,605.50 + ( 24% of any amount above 85,525)

= 14,605.50 + ( 24% * ( 100,000 - 85,525))

= $18,079.5‬0

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In 2021, Ryan Management collected rent revenue for 2022 tenant occupancy. For financial reporting, the rent is recorded as defe
galben [10]

Answer:

                                Ryan Management

                                    Journal Entries

Date            Particulars                  Debit'million   Credit'million  

31-Dec-22   Income tax expense       $219.50

                           To Income tax payable                 $190

                            ($760 * 25%)

                           To Deferred tax asset                   $29.50

                             [($194 - $76)*25%]

                    (To record income tax expense and reversal of Deferred

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6 0
3 years ago
Trading in foreign currency options would most likely be: __________
kumpel [21]

There are different kinds of trade. Trading in foreign currency options would most likely be an appropriate hedging tool for individual investors who want to hedge the risk on specific U.S. exchange-listed stocks.

<h3>Currency option hedges</h3>

  • Currency option hedges are known to be tools that are used in international business.

An example, when an American importer is said to agree to buy some food equipment from a Chinese manufacturer at a later future date. The transaction will be carried out in Chinese currency.

The American importer has therefore made an hedge by buing currency options on the Chinese currency.

Learn more about trade from

brainly.com/question/4957225

3 0
3 years ago
Helpppp ASAPPP
crimeas [40]
List three services provided by a travel agent that benefit a business person who travels overseas frequently?
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6 0
3 years ago
Comparing Investment Criteria Consider two mutually exclusive new product launch projects that Nagano Golf is considering. Assum
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⚡️?

Explanation:

⚡️ nothing has a problem with the battery and the battery is a bit annoying and the battery is a bit annoying

8 0
3 years ago
Consider the following for Guardian Manufacturing Company: Change in finished goods inventory $ 315 increase Change in work-in-p
vesna_86 [32]

Answer:

B) $ 485 $ 170

Explanation

The cost of goods manufactured includes all the manufacturing costs in a given period adjusting for changes in work in process balances. The total manufacturing costs are $ 630 but this results in  an increase in work in process inventory by $ 145, so in other words, part of the total manufacturing costs have gone towards increasing the work in process balance.

So the cost of goods manufactured is $ 630 - $ 145 = $  485.

The cost of goods sold is the cost of goods manufactured above adjusted for changes in finished goods.

so the cost of goods sold is $ 485 - $ 315 ( change in finished goods inventory) = $ 170.  

8 0
3 years ago
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