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NISA [10]
3 years ago
8

Mary is filing Head of Household with a taxable income of $79,280. What is her income tax for Marks: 1 2018? Choose one answer.

O O a. $11,989 b. $13,380 O c. $9,320 O d. $11,978
Business
1 answer:
antiseptic1488 [7]3 years ago
8 0

Answer:

a. $11,989

Explanation:

tax rate // for income above

0.1        //  $           0

0.12        //  $   13,600

0.22       //   $  51,800

0.24      //    $ 82,500

Mary's income of $79,280 is on the third bracket as is lower than the minimum for the fourth bracket.

first bracket:

$13,600 x 10%    =                     $ 1,360

second bracket:

($51,800 - $13,600) x 12%   =    $ 4,584

third bracket

($79,280 - $51,800) x  22%   =  $ 6,045.6

total tax income: 11,989.6

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Answer: $5510

Explanation:

For organizations cost up to $50,000, there'll be a deduction of $5000. The remaining non deductible expense will then be spread out for 180 months. Here, the non deductible cost will be:

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The capitalized cost will then be:

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Therefore, the amount that should be deducted on its first tax return will be:

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8 0
2 years ago
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1 year ago
When inventory declines in value below original (historical) cost, and this decline is considered other than temporary, what is
quester [9]

Answer:

Explanation:

The applicable accounting standard IAS 2 (Inventory) requires that inventory be carried at the lower of cost or net realizable value.

Initial recognition of inventory is at cost. In other words, where the cost is lower than the net realizable value, inventory is written down to the net realizable value.

As such, when inventory declines in value below original (historical) cost, and this decline is considered other than temporary, the maximum amount that the inventory can be valued at is the net realizable value.

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A rating scale may be a Likert scale or a Semantic differential scale.

In a Likert scale the choices usually range between strongly agree and strongly disagree.  

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To be successful, an entrepreneur must be willing to invest money, considerable effort, and
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6 0
3 years ago
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