Answer:
total taxable income = $73,000
tax liability = $7,505
Explanation:
Clarice's ordinary income $30,000
Clarice's capital gains:
- selling of stock = $34,000 - $16,000 = $18,000
- selling of coin collection = $55,000 - $30,000 = $25,000
- total long term capital gains = $43,000
Clarice's taxable income = $73,000
Clarice's ordinary income tax rate 2011:
ordinary income = $30,000 - standard deduction $5,800 = $24,200
- 10% on taxable income from $0 to $8,500 = $850
- 15% on taxable income over $8,500 to $34,500 = $2,355
ordinary income taxes = $3,205
Clarice's capital gains tax rate 2011 = 10%
capital gains taxes = $43,000 x 10% = $4,300
total tax liability = $7,505
C. Francois Couperin was considered one of the best and most influential rococo composers.
Answer:
(a) $2.80; 3.40
(b) $1,400,000; $1,700,000
Explanation:
(a) Standards are stated as a per unit amount.
Therefore,
standard materials:
= Total estimated cost for materials ÷ Estimated production of Product X
= $1,400,000 ÷ 500,000
= $2.80
Standard labor:
= = Total estimated cost for labor ÷ Estimated production of Product X
= $1,700,000 ÷ 500,000
= $3.40
(b) Budgets are stated as a total amount.
Thus, the budgeted costs for the year are materials $1,400,000 and labor $1,700,000.
Answer:
Return on investment is decreased by 3.30%
Explanation:
The computation of the return on investment is shown below:
= (Controllable margin ÷ operating assets) × 100
= ($93,000 ÷ $300,000) × 100
= 31%
Now the new controllable margin equals to
= $93,000 + $15,000
= $108,000
And, the new operating assets would be
= $300,000 + $90,000
= $390,000
So, the new return on investment equals to
= ($108,000 ÷ $390,000) × 100
= 27.70%
The return on investment is decreased by
= 31% - 27.70%
= 3.30%
Answer:
Also known as the balance sheet equation, the accounting equation formula is Assets = Liabilities + Equity. ... In other words, all uses of capital (assets) are equal to all sources of capital (debt: liabilities and equity).
