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larisa [96]
4 years ago
6

What is taxable income?

Business
1 answer:
ollegr [7]4 years ago
6 0
Taxable income is the income (revenue) given on tax. It is payable, in other words, it is the tax paid for being paid. 

Example:

You get $40
You need to pay 5% to tax

5% of 40 
.05*40 = 2

2 is the tax, so,
40 - 2 = 38

Your revenue is 38 now, and taxable income is 2
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Russell Co. received a $520 utility bill for the current month's electricity. It is not due until the end of the next month whic
nekit [7.7K]

Answer:

Journal Entry to reflect the event is as follow;

                                  Dr.       Cr.

Utility Expense       $520

Utility bill payable              $520

Explanation:

Utility bill is received it means the expense is accrued and it is not due until the month end so a liability will be created and will be paid next month.

5 0
4 years ago
56. Anne LLC purchased computer equipment (5-year property) on August 29 with a basis of $30,000 and used the half-year conventi
klasskru [66]

Answer:

B. $1,728

Explanation:

Data given in the question

Number of computer equipment purchased = $30,000

So, by considering the above information the maximum depreciation expense is

= Number of computer equipment purchased × depreciation rate under MACRS for 5 years property × half year basis

= $30,000 × 11.52% × 0.5

= $1,728      

Refer to the MACRS table to find out the depreciation rate

3 0
3 years ago
Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter’s pro
VLD [36.1K]

Answer:

raw materials    197900

accounts payable   197900

WIP   161830

factory overhead   5270

raw materials   167100

WIP   85500

factory overhead   7600

wages payables   93100

factory overhead   53000

accounts payable   53000

factory overhead   17150

acc. Dep-equipment   17150

dep expense*   14800

acc. Dep- Off Building   14800

WIP**   70965

factory overhead   70965

Finished Goods***   251747

WIP inventory   251747

Explanation:

* as the building is not related to the manufacturing process we cannot capitalized through inventory We will record as cost ofo the period therefore, depreciation expense

** the aplied overhead will be the amount of direct labor added during the period time 83%

85,500 x 83% = 85,500 * 0.83 = 70,965

*** we will have to add up the jobs cost to detemrinate how much of the work in process inventory becomes finished good

Job  Materials // Labor // Overhead

A20 $  37,740  $  19,200 + 19,200 x 0.83

A21  $ 44,320  $ 23,600 + 23,600 x 0.83

A23 $  41,770   $  27,100  + 27,100 x 0.83

Total 251,747

4 0
3 years ago
What is the future value of $3,100 in 17 years assuming an interest rate of 8.4 percent compounded semiannually
Alex Ar [27]

Answer:

$12,556.37

Explanation:

Calculation to determine What is the future value

Using this formula

Future value = PV(1 + r)^n

Let plug in the formula

Future value = $3,100[1 + (.084/2)]^17(2)

Future value = $12,556.37

Therefore the future value is $12,556.37

3 0
3 years ago
Seven-year-old tim has a chinese american mother who believes that tim should obey her without question. according to the text,
Ymorist [56]

Seven-year-old Tim has a Chinese American mother who acknowledges that Tim should follow her without question. According to the text, Tim's mother may occasionally use shame or guilt as a tactic to discipline Tim.

<h3>What is the importance of parenting?</h3>

Parenting has three fundamental components. Firstly, care protects children from harm. Care also encloses promoting inspirational as well as physical health. Secondly, control concerns setting and enforcing limitations to ensure children's and others' safety, in ever-widening areas of action.

<h3>What is bad parenting?</h3>

Some things are generally regarded “bad” by anyone. Physical abuse, negligence, emotional abuse, and sexual misuse are the most serious and damaging manners traits that most of us correlate with bad parenting.

To learn more about bad parenting visit the link

brainly.com/question/1368223

#SPJ4

4 0
2 years ago
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