All categories

3 years ago

Marc, a single taxpayer, earns $60,000 in taxable income and $5,000 in

Business

1 answer:

lesya692 [45]3 years ago

4 0

Answer:

Federal tax = $10,856.25

Explanation:

Given:

Tax rate schedule for year 2014.

Income between $36,900 - $89,350

$5,081.25 + 25% over $36,900

Total income = $60,000

Computation:

So,Income between $36,900 - $89,350

Federal tax = $5,081.25 + 25% ($60,000 - $36,900)

Federal tax = $5,081.25 + 25% ($23,100)

Federal tax = $5,081.25 + 0.25 ($23,100)

Federal tax = $5,081.25 + $5,775

Federal tax = $10,856.25

You might be interested in

What role should government play in a free market economy?

igor_vitrenko [27]

Economists, however, identify six major functions of governments in market economies. Governments provide the legal and social framework, maintain competition, provide public goods and services, redistribute income, correct for externalities, and stabilize the economy.

8 0

3 years ago

Read 2 more answers

A study was done on the campus of a major state institution to measure attitudes of students to-wards the recent fee increase. O

kiruha [24]

Answer: Ordinal scale.

Explanation:Ordinal scale is the level of measurement that gives the ranking of data without showing the degree of variation between them. It helps in identifying if object has more or less characteristic when compared to another object but does not tell the exact weight of the characteristic. Data in Ordinal scale is usually given in order of magnitude since there is no standard of measurement of differences. For example 1=most willing to 5=least willing.

3 0

3 years ago

In a perfectly competitive market, all producers sell identical goods or services. Additionally, there are many buyers and selle

V125BC [204]

Answer:

True

Explanation:

In a perfectly competitive market, all producers sell identical goods or services. Additionally, there are many buyers and sellers. Because of these two characteristics, both buyers and sellers in perfectly competitive markets are price takers. Market price is set by the forces of demand and supply.

If the seller attempts to set his own price and sets it above the market price, the seller would lose all its customers and make zero sales.

If the seller attempts to set his own price and sets it below the market price, the seller would make losses .

I hope my answer helps you.

7 0

4 years ago

Blythe Industries reports the following account balances: inventory of $417,600, equipment of $2,028,300, accounts payable of $2

aleksley [76]

Answer:

$783,400

Explanation:

The total assets comprise of current assets, fixed assets ,and the intangible assets

The current assets include cash, stock, account receivable, etc

Fixed assets include plant & machinery, land, equipment, furniture & fittings, etc.

And, the intangible assets include patents, copyrights, goodwill, etc.

So, the amount of the current assets is shown below:

= Inventory + cash + account receivable

= $417,600 + $51,900 + $313,900

= $783,400

The account payable is a current liabilities, Hence, we do not considered for the computation part

6 0

3 years ago

Tax cuts _________.A) and increases in government expenditures shift aggregate demand right.B) and increases in government expen

Pie

Answer: A. and increases in government expenditures shift aggregate demand right.

Explanation: Government expenditures or spending affect the aggregate demand, because it is one of the component of aggregate demand. If there is an increase in government spending the aggregate demand will shift to the right.

When there is tax cut or reduction in tax, there will be more disposable income which will increase consumption and savings and in turn shift the aggregate demand to the right.

5 0

3 years ago