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3 years ago

Do all states have income tax

Business

2 answers:

DanielleElmas [232]3 years ago

8 0

Answer:

No, the states that don't are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.

Explanation:

Aloiza [94]3 years ago

5 0

Answer:

not all of them

Explanation:

Most Americans file a state income tax return and a federal income tax return. The states with no income tax are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. If you live in one of those seven states, or New Hampshire or Tennessee, you may not need to file a state return.

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Top Shelf Company builds oak bookcases. Determine whether each of the following is a direct material (DM), direct labor (DL), ma

Veronika [31]

Answer:

(1) Depreciation on factory equipment. ____MOH

(2) Depreciation on delivery trucks. ____ Period Cost

(3) Wood used to build a bookcase. ____Direct Material

(4) Production supervisor’s salary. ____ MOH

(5) Glue and screws used in the bookcases. ____ MOH

(6) Wages of persons who assemble the bookcases. ____Direct Labor

(7) Cost to run an ad on local radio stations. ____Period Cost

(8) Rent for the factory. ____ MOH

(9) CEO’s salary. ____ Period Cost

(10) Wages of person who sands the wood after it is cut. Direct Labor

Period Cost are costs that are not directly involved in the manufacturing costs of a product but are incurred in a particular period. These expenses include advertising and selling expenses.

Direct Materials are material used to make a product . For example wood is a direct material for making shelves.

Direct Labor are the wages paid to the people who work in the production of a product.

Manufacturing Overheads are charges associated with the manufacturing of a product.they are indirect costs of the production like rent of the building etc.

4 0

4 years ago

On January 1, 2021, Calloway Company leased a machine to Zone Corporation. The lease qualifies as a sales-type lease. Calloway p

Delicious77 [7]

Answer:

DR Interest receivable 26,400

CR Interest revenue 26,400

Explanation:

As first lease has already been paid, the amount left of the lease is;

= 280,000 - 40,000

=$240,000

Interest is 11% so the interest to be received in December is;

= 11% * 240,000

= $‭26,400‬

This will be debited to Interest receivable as it is money owed and credited to Interest revenue as it is money earned.

6 0

3 years ago

Based on the following information, prepare the bank reconciliation for Cougar Corp. as of December 31. A. On December 31, Couga

True [87]

Answer and Explanation:

The Preparation of bank reconciliation for Cougar Corp. as of December 31 is shown below:-

Cougar Corp.

Bank reconciliation

For the year ended December 31

Particulars Amount

Bank balance Dec 31 $24,575

Add: Deposit in transit $2,500

Less:

Outstanding checks #302 ($180)

Outstanding checks #303 ($95)

Outstanding checks #304 ($25) ($300)

Bank balance adjusted $26,775

Cash balance on 31 Dec $26,504

Add: EFT from customer $1,700

Add: Interest income $21 $1,721

Less: Posting error

($5,400 - $4,500) $900

Less: NSF check $500 $1,400

Book balance adjusted $26,775

Hence, the bank balance and the book balance are matched

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3 years ago

Quarry Mining Inc. and Riverside Vineyards agree to resolve a dispute in arbitration. The arbitrator meets with Quarry’s represe

Molodets [167]

Answer:

The correct answer is letter "D": set aside any award.

Explanation:

Arbitrators are individuals without the range of judges that are called in disputes to resolve a matter before taking it to court. Similar to trials, each party involved in the dispute present their defense in front of the arbitrator who promotes the mutual agreement between the two parties but, if that does not happen, the arbitrator provides a resolution that tends to be definite.

Arbitrators must be impartial. Thus, if the arbitrator meets with one of the parties and, eventually, the decision of that case favors that party, the court can take away any reward provided until an investigation is conducted.

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3 years ago

Company FIN3610-FTRA has a six-year project that requires an initial investment of $30,000. Every year, the project will pay fix

lara31 [8.8K]

Answer:

909.09

Explanation:

Breakeven quantity are the number of units produced and sold at which net income is zero

Breakeven quantity = fixed cost / price – variable cost per unit

$20,000 / 58 - 36 = 909.09

4 0

3 years ago