Based on the information given Andrew’s net federal income tax rate is c. 11.8%.
Using this formula
Net federal income tax rate=Federal income taxes / Taxable income
Where:
Federal income taxes= $5,345.40
Taxable income=$45,300
Let plug in the formula
Net federal income tax rate=$5,345.40/$45,300
Net federal income tax rate=0.118×100
Net federal income tax rate=11.8%
Inconclusion Andrew’s net federal income tax rate is c. 11.8%.
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Answer:
D. $460,500
Explanation:
Given that
Cost of parcel of land = 450000
Legal fees = 3000
Broker's fees = 7500
Therefore,
Amount recorded as cost of parcel of land is
Cost of parcel of land + legal fees + brokers fee
= 450000 + 3000 + 7500
= $460,500
When purchasing land, fees like commissions, legal fees, bank fees, title fees and other expenses added before the land can be used are considered as part of the land's cost. Hence the answer.
Answer:
FACE TO FACE
Explanation:
If Nick cares a great deal about his employees and wants to convey this information in the best way possible, then the medium Nick should use to tell his employees that they're fired is the 'Face to Face' method which means announcing to them in Person.
The following reasons are why:
1. Shock Reduction. If a worker is being fired, that worker will receive such a news with negative shock which will be more severe if done in writing.
2. Clarity and Conciseness: Firing someone always comes with some level of confusion which can be adequately managed if done on a personal familiar level.
3. Emotional Management: Face to face information helps the manager to manage the emotions of sad feelings and give the employees a soft landing.
In 2007, Petra spent <u>$2,340</u> on wages for her employees each week, and Petra increased her annual wage budget from 2008 by <u>$14,56</u>0.
<h3>
Calculation of wages</h3>
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
Petra owns a coffee shop. She has ten employees. In 2007, she paid her employees minimum wage ($5.85 an hour). In 2008, the minimum wage increased to $6.55 an hour. In 2009, the minimum wage increased to $7.25 an hour. Petra is paying her ten employees for 40 hours a week 52 weeks each year. In 2007 Petra spent___ on wages for her employees each week. When the minimum wage rose in 2009, Petra had to increase her annual budget for wage from 2008 by___
We can now proceed as follows:
Weekly wage spent Petra in 2007 = 2007 minimum wage per hour * Number of employees * Number of hours per week = $5.85 * 10 * 40 = $2,340
Amount of increase in minimum wage per hour between 2008 and 2009 = $7.25 - 6.55 = $0.7/hour
Petra’s increase in annual budget for wages in 2009 = Amount of increase in minimum wage per hour between 2008 and 2009 * Number of employees * Number of hours per week * Number of weeks = $0.7 * 10 * 40 * 52 = $14,560
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Answer: The matching principle (B)
Explanation:
Matching principle states that all expenses must be recorded in the same period as the revenue that was earned
