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:
corona virus has affected us in mental aand physical condition
Answer:
5%
Explanation:
The applicable formula is A = P( 1 + r) ^ n
where A= amount: P is the principal, r, interest rate, n time
In this case,
A = principal + interest = Rs 410 { Rs 4000 + Rs410}
P= Rs 4000
r= ?
n= 2
r is?
4410 = 4000(1 + r) ^2
(1 + i)^ 2 = 4410/4000
(1 + i)^ 2 = 1.1025
1 + i = √1.1025
1 + i = 1.05
i = 1.05 - 1
i = 0.05
0.05 × 100 = 5%
Answer:
Please refer to the below
Explanation:
Journal entry as seen below
Feb 28 Sales tax payable Dr $975
Cash Cr $975
Since Jewelry store collected the sales tax from its customers, sales tax account will be debited because it reduces the balance in the account while cash account will be credited because the balance therein increases due to the sales tax collected.
Answer:
<em><u>Find below the features of a corporation</u></em>
An investor who purchases stock in a corporation becomes an owner
The chief distinguishing factor of a corporation is its
Limited liability in that corporation.
Explanation:
- Stocks are certificates of ownership. Then, any person that buy a stock for a corporation become an owner of the company. This means that this person has the right to a share of the company profit if there is some.
- Limited liability it means that if a law sue is issued over the company the person that is a stockholder or owner does not have any liability but just the corporation.
