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
Answer:
$245,000.00
Explanation:
The amount of sales revenue to be made to achieve target profit is computed as follows:
<em>Sales revenue to achieve target income</em>
<em>= Total fixed cost for the period + target profit/ contribution margin</em>
Contribution margin = (Sales - variable cost) / sales × 100
The figure has been given as 40% in the question
Sales revenue to achieve target profit = (83,000 + 15,000)/0.4
$245,000.00
Watson Company has monthly fixed costs of $83,000 and a 40% contribution margin ratio. If the company has set a target monthly income of $15,000, what dollar amount of sales must be made to produce the target income?
Sales revenue to achieve target profit = $245,000.00
Answer:
Tell them to shut up and let you do your work
Explanation:
