The economic order quantity (EOQ) deals with calculating the proper order size with respect to ____ costs and ___

Determine the amount of tax liability in the following situations. In all cases, the taxpayer is using the filing status of marr

Lisa [10]

Answer:

a. $8,361

b. $1,2610

c. 26,564

d. 5,427

e. 59,883

Explanation:

a.

Taxable Income = $62,449 - $560

= $61,889

Finding the tax liability in tables:

Tax on 61,889

= [1,845 +(61,889 - 18,450) × 15%]

= 1,845 + 6,516

= 8,361

Subtracting or Deducting the tax on the dividend income

= $560 × 0%

= 0

Therefore, the tax liability is $8,361

b.

Taxable Income = $12,932 - $322

= $12,610

Tax liability is $1,2610

c.

Taxable income = $144,290 - $4,384

= $139,906

Tax will be:

= 1,845 (74,900 - 18,450) × 15% + (139,906 - 74,900) × 25%

= 1,845 + 8,467.5 + 16,251.5

= $26,564

d.

Taxable income = $43,297 - $971

= $42,326

Tax liability will be:

= [1,845 + (42,326 - 18,450) × 15%

= 1,845 + 3,581.4

= 5,427

e.

Taxable income = $262,403 - $12,396

= $250,007

Tax on the qualified income will be:

= $12,396 × 15%

= $1,859.4

Tax liability will be:

= 1,845 {74,900 - 18,450) × 15% + (151,200 - 74,900) × 25% + (230,450 - 151,200) × 28% + (250,007 - 230,450) × 33%

= 1,845 + 8,460 + 19,075 + 22,190 + 6,453.81

= $58,024

Total tax liability will be:

= $58,024 + $1,860

= $59,883

Note: The values are taken from the tax liability table.

4 0

2 years ago

Imagine that David is preparing his will and is trying to decide how to divide his assets between his two grown children. His da

san4es73 [151]

Answer:

Fairness of Equal Outcomes: Split his wealth evenly between Terry and Tonya, Leave his money to charity instead.

Fairness of Equal Opportunity: Leave Terry his entire wealth to offset the gap between him and his sister.

Fairness of Process: Tell his kids he will leave the money to whoever does the most to take care of him in his old age.

Fairness of what is deserved or earned: Leave his money to the child whom he thinks deserves the most money.

8 0

2 years ago

Havermill co. establishes a $470 petty cash fund on september 1. on september 30, the fund is replenished. the accumulated recei

sammy [17]

Answer:

The journal entry to record the establishment of the fund on september 1 is:

1 September Petty Cash $ 470 Dr.

Cash $ 470 Cr.

31st September Office supplies, $95 Dr.

Merchandise inventory, $ 181 Dr.

Miscellaneous expenses $ 44 Dr.

Cash $320 Cr.

To reimburse Petty Cash

The journal entry to reimburse and to increase the fund are same .

October 1 Petty Cash $ 94

Cash $ 94

To increase the Petty Cash by $ 94

3 0

3 years ago

Lydia, a minor, charges the cost of a smartphone at a Mobile Devices & Minutes store. Two nights later, Lydia loses the pho

MatroZZZ [7]

Answer:

A) if it is deemed a necessary good

Explanation:

Minors are not usually bound by a contract, and most of the time they can avoid liability under a contract. Minors can only sign a valid contract if it includes something that is essential for them. Medicines, food and medical services are the only things that are usually considered essential for a minor.

So the store has to prove that selling her the cell phone was a necessity, and something essential for her. It is possible to prove that it was a necessity, but it is something very difficult to do.

But the fact that the contract is not valid doesn't mean that Lydia can do whatever she wants. Her parents are responsible for returning the cell phone or since she lost it, they are responsible for paying it.

6 0

3 years ago

Stephanie Corporation sells a single product. Budgeted sales for the year are anticipated to be 639,000 units, estimated beginni

Margarita [4]

Answer:

dollar value=$114452

Explanation:

We need to calculate the dollar value of material A needed during this year.

First step is to calculate how many units are necessary

Budgeted Sales= 639000 units

Ending inventory=82000 units

Beginning Inventory= 101000 units

Production of the year= 620000 (639000+82000-101000)

Second step is to calculate how much of material A is required

620000 units*0,50lb/un= 310000lb

Finally, we need to convert lb to pounds/$

1lb=0,71 punds

310000lb*0,71=220100pounds

dollar value=220100*$0,52=114452

3 0

2 years ago

The economic order quantity (EOQ) deals with calculating the proper order size with respect to ____ costs and ____ costs.

The economic order quantity (EOQ) deals with calculating the proper order size with respect to costs and costs.