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2 years ago

What are the criteria for distinguishing between a deductible expense and a capital expenditure?

1 answer:

6 0

The criteria for distinguishing between whether an expenditure is a capital item or a deductible expense is the useful life of the item.

If the purchase is going to be used and no longer have value at the end of the reporting period it is an expense for that period. If the item is a capital item it is going to have a longer useful life. In this case the item is depreciated over its useful life, assigning an expense amount to each accounting period that the item has value.

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Juanita has a part-time job that pays 12 hour and works about 50 hours every month her withholding are social security 6.2 %medi

ozzi

Answer:$500

Explanation:

It is mandatory to deduct the social security, medicare and federal income taxes from the individuals paycheck. At first the federal income tax has to be deducted from the income. Secondly the social security has to be deducted, thirdly the state taxes have to be deducted and finally the medicare will be deducted.

Calculation of Net pay

Salary of Juanita = $12 per hr x 50hrs

=$600

Federal income tax 600 x 10%

=$60

Social security 540 x 6.2%

=$33.48

Medicare= 506.52 x 1.45%

=$7.34

So the net pay= Gross pay- deductions

=600-60-33.48-7.34

=499.17

Which is approximately $500 is the net pay.

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2 years ago

The 6-month futures price on a non-dividend-paying stock is $36.20. the risk-free rate is 2.75 percent and the market rate is 9.

Otrada [13]

$15.82 (a.k.a answer B)

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2 years ago

The managers most important food safety responsibility is training you to

Advocard [28]

There are lots of responsibilities of a manager training their employees to handle food. Such as training the employees to clean the food prep area, thoroughly cook food and store food in the right temperature, and to wash their hands as well as tie their hair back.

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2 years ago

Read 2 more answers

Real property taxes are often assessed on the value of the property at the beginning of the year. when property is sold in the m

sergejj [24]

When property is sold in the middle of year, both the buyer and seller can deduct their pro rated portion of the property tax.

The property taxes are based on the assessed value of the property. So when the property tax is pro rated at the time of the transfer, both the buyer and seller can deduct their pro rated portion of the property tax.

Buyer and seller prorations are often applied during real estate closing transactions to divide the cost of expenses like property taxes. Thus, the buyer gets a deduction for the prorated amount of property tax due after closing, and the seller gets the same deduction for the taxes.

Hence, both the buyer and seller receives the deduction for the real property tax.

To learn more about property tax here:

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7 months ago

Henrietta is interested in moving her organization toward being a true learning organization. what might be one way in which she

S_A_V [24]

If Henrietta wants to move her organization closer to being a true learning organization, she should redesign the structure. These changes will effect how the company is run and will improve the overall efficiency, productivity, and workflow of the company.

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2 years ago