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3 years ago

Which of the following is not a payroll tax deduction? federal payroll tax state payroll tax FICA sales tax

Business

1 answer:

Morgarella [4.7K]3 years ago

7 0

Answer: The Correct Answer is Sales tax.

Explanation:

Sales tax is the Tax forced by the government body during the sale of the goods and services at a retail level.

While payroll tax is the tax which is forced on the salary of the employees and this tax is forced by the employer. payroll taxes are directly deducted from the salaries of the employees and directly paid to the internal revenue services by the employer.

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Abbott Landscaping purchased a tractor at a cost of $32,000 and sold it three years later for $16,000. Abbott recorded depreciat

nadezda [96]

Answer:

Record the sale

Dr Cash $16,000 Debit

Dr Accumulated Depr $18,000 Debit

Cr Equipment $32,000 Credit

Cr Gain $2,000 Credit

DEBIT (Cash + Acc Dep) $34.000 Debit

CREDIT (Equip.+Gain) $34.000 Credit

Explanation:

Equipment $32.000 Debit

Equipment Value for Depreciation $30.000 Because $2,000 is the residual value that does not compute for depreciation

Accumulated Depr $18.000 Credit

The accumulated Depreciation is calculated by dividing the equipment value of $30,000 by 5 years of service life.

As the equipment only was used 3 years, the accumulated depreciation only reflect $6,000*3 = $18,000

Record the sale

Dr Cash $16.000 Debit

Dr Accumulated Depr $18.000 Debit

Cr Equipment $32.000 Credit

Cr Gain $2.000 Credit

DEBIT (Cash + Acc Dep) $34.000 Debit

CREDIT (Equip.+Gain) $34.000 Credit

As the residual value of the equipment it's $14,000 ( $32,000 - $18,000) and the sale was by $16,000, it means a gain of $2,000

3 0

3 years ago

Turnbull Co. has a target capital structure of 58% debt, 6% preferred stock, and 36% common equality. It has a before-tax cost o

ioda

Answer:

Raising the Funds through Retained Earnings

WACC = Ke(E/V) + Kp(P/V) + Kd(D/v)(1-T)

WACC = 14.7(0.36) + 12.2(0.06) + 11.1(0.58)(1-0.40)

WACC = 5.292 + 0.732 + 3.8628

WACC = 9.89%

Raising New Equity

WACC = Ke(E/V) + Kp(P/V) + Kd(D/v)(1-T)

WACC = 16.8(0.36) + 12.2(0.06) + 11.1(0.58)(1-0.40)

WACC = 6.048 + 0.732 + 3.8628

WACC = 10.64%

Difference in WACC = 10.64% - 9.89%

= 0.75%

Explanation:

WACC equals cost of equity multiplied by proportion of equity in the capital structure plus cost of preferred stock multiplied by proportion of preferred stock in the capital structure plus after-tax cost of debt multiplied by proportion of debt in the capital structure.

In this case, there is need to calculate WACC if funds were raised through retained earnings and WACC if funds were raised through new common stock. Then, we will determine the difference in WACC.

5 0

3 years ago

One seller strategy for building value is to

dusya [7]

C) create an effective marketing plan for customers

7 0

3 years ago

Elin purchased a used car for $. She wrote a check for $ as a down payment for the car and financed the $ balance. The annual

katrin [286]

Answer:

d. $200.

Explanation:

Note the purchase price is $10,000 while $2,000 was the down payment, the car purchase was financed with $8,000 in loan.

The monthly payment based on a 9% annual percentage rate can be determined using a financial calculator as shown below, bearing in mind that the calculator would be set to its default end mode before making the following inputs:

N=48(number of monthly payments for 4 years that the loan would last)

I/Y=9/12(monthly interest rate which is 9%/12)

PV=-8000(the loan amount)

FV=0(the loan balance after all monthly payments would be zero)

CPT

PMT=$199.08(closest $200)

3 0

3 years ago

Real capital is supposed to earn a higher return where it is scarce. However, most international investment flows to the IACs (w

Vlad1618 [11]

Answer:

the return on investment is higher in IACs because of superior infrastructure and workforce.

Explanation:

Based on the information provided within the question it can be said that the return on investment is higher in IACs (which refers to Industrially Advanced Countries) because of superior infrastructure and workforce, that allow for higher production and overall quality. Unlike DVCs which are the opposite in this aspect.

3 0

3 years ago