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morpeh [17]
3 years ago
8

This year Luke has calculated his gross tax liability at $2,120. Luke is entitled to a $2,880 non-refundable personal tax credit

, a $1,740 business tax credit, and a $760 refundable personal tax credit. In addition, Luke has had $2,700 of income taxes withheld from his salary. (Input the amount as a positive value.) What is Luke’s net tax due or refund?
Business
1 answer:
Tema [17]3 years ago
3 0

Answer:

$3,460

Explanation:

Gross tax liability $2,120

Less non-refundable personal tax credit $2,880

Refundable personal tax credit $760

Hence:

Income taxes withheld $2,700+ $760

=$3,460

Luke’s non refundable personal credit reduces his gross tax to zero ($2120– 2,880) and $760of the unused credit expires unused.

The $1,740 unused business tax credit carries over and Luke receives a refund of $3,460($760 refundable credit + $2,700 taxes he paid)

Luke’s net tax due or refund is $3,460

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The market segmentation process:a. creates products for several markets that have independent needs. b. offers one version of th
aleksley [76]

Answer:

The correct answer is the option E: divides a market into distinct groups that have heterogeneous needs.

Explanation:

To begin with, the concept known as <em>''segmentation''</em>, in the field of marketing and in the business world, comprehends the process of dividing a market into different groups that have similar needs inside those groups but heterogenous needs among the groups and therefore the process focus in letting the company knows who its target audience actually is and so it can focus only in producing a good that will satisfy that group entirely. Moreover, there are different types of segmentation, such as demographic, geographic, etc.

3 0
3 years ago
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Shelly has a business that requires her to take out a loan to finance short-term working capital needs since she extends credit
OLEGan [10]

Answer:

Revolving loan

Explanation:

A revolving loan can be described as a loan that has a fixed monthly repayment. The interest rate that will be paid depends on the individual previous credit score and well as how well the individual can afford it.

The revolving loan provides access to a rolling credit facility, it enables the individual to borrow some amount of money again which could be up to your original loan amount, as long as a certain percentage of the loan has been repaid.

A revolving credit loan helps to provide cash for the business day-to-day activities thereby leading to an effective cash flow management for small businesses.

6 0
3 years ago
Sherri's Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments and total costs for
Sidana [21]

Answer:

Variable cost per unit= $6.5 per unit

Fixed costs= $3,750

Explanation:

Giving the following information:

Month - Number of Appointments - Total Cost

January: 375 $5,050

February: 350 $5,500

March: 200 $5,200

April: 500 $7,000

May: 400 $5,650

June: 300 $5,200

To calculate the variable and fixed costs, we need to use the following formulas:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (7,000 - 5,050) / (500 - 200)= $6.5 per unit

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 7,000 - (6.5*500)= $3,750

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 5,050 - (6.5*200)= $3,750

3 0
3 years ago
"Lizard National Bank purchases a three-year interest rate cap for a fee of 2 percent of notional principal valued at $50 millio
Bingel [31]

Answer: $500,000

Explanation:

An Interest Rate Cap is a Derivative Financial Instrument that works by paying the buyer for every year that the interest rate ceiling is exceeded.

Using the scenario above this is how it's works,

There is an Interest Rate Ceiling of 11%.

Any year that index which is this case is the London Interbank Official Rate (LIBOR) exceeds the 11%, the seller will pay the buyer the difference between the LIBOR and the Interest Rate Ceiling.

The Notional Principal is the amount on which the interest is based.

That means that in Year 1 with a LIBOR of 9 percent, the seller does not pay.

Second year LIBOR is 12 percent, the seller will pay 1% (12% - 11%)

Third year LIBOR is 13 percent, the seller will pay 2% (13% - 11%)

Lizard National Bank had to pay 2% of the notional Principal as a fee.

The amount that Lizard Receives from the seller is therefore,

= Total Received - Fees

= (1% + 2% - 2%) * 50,000,000

= 1% * 50,000,000

= $500,000

The total payments received by Lizard, including the initial fee, are $500,000.

4 0
3 years ago
Alex files a petition for bankruptcy under Chapter 7. He owes $2.37 million to assorted creditors. Two months before filing, he
mamaluj [8]

Answer:

If the trustee objects to the sale, most likely: The trustee will avoid the transfer and take back the house as part of Alex's estate

Explanation:

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3 years ago
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