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Vlada [557]
3 years ago
10

Cason is filing as single and has 2019 taxable income of $36,000 which includes $34,000 0%/ 15 % / 20% net long-term MID capital

gain. What is his tax on taxable income using the alternative tax method? Note: Use the tax rate schedule rather than the tax table. FA
a. 50
b. $200
c. 5300
d. $4924
e. None of these.
Business
1 answer:
AleksandrR [38]3 years ago
5 0

Answer:

The correct answer of this question is b-200$.

Explanation:

As per tax schedule if income from capital gain is less than 39,375$ 0% tax is charge lieved.

So on his income from capital gain that is 34,000 dollars no tax will be charge. However the remaining income is subject to income tax that is (36000-34000)= 2000 dollars. So Cason is liable to pay tax equals to 200$. (2000*10%)

As per tax law whose income is less than 9,750 dolars is liable to pay tax at the rate of 10%.

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A firm's marginal cost curve Group of answer choices always has a positive slope. always intersects its average cost curve at it
yarga [219]

Answer:

The correct answer is the first option: Always has a positive slope.

Explanation:

To begin with, the <em>marginal cost curve</em> of a firm is the graphical representation the relationship between the last unit produce and the cost of producing it. Therefore that this concept shows how much it cost to the company to produce one more unit of the product. Moreover, due to the fact that the relationship between the production and its costs are directly, the slope of the curve will be always positive, meaning that if the production increases then obviously the costs will increase but the cost per unit might decrease due to the volumen handle by the organization.

4 0
3 years ago
n January 1, 2022, Smeder Company, an 80% owned subsidiary of Collins, Inc. transferred equipment with a 10-year life (six of wh
Akimi4 [234]

Answer:

2022

Dr. Equipment _________ $22,000

Cr.Reserve Account _____$19,800

Cr. Depreciation expenses $2,200

2022

Dr. Depreciation Expense ___ $14,000

Cr. Accumulated Depreciation $14,000

2023

Dr. Depreciation Expense ___ $14,000

Cr. Accumulated Depreciation $14,000

Explanation:

2022

Calculate the net book value

Net book value = Historical cost - Accumulated depreciatin = $140,000 - $58,000 = $82,000

Unrealised profit on the sale of the asset = Cash receipt - Nreet book value = $104,000 - $82,000 = $22,000

Annual Depricaiton = Historical cost / remaining life = $140,000 / 10 = $14,000

Excess depreciation charged = Unrealised profit / Remaining life = $22,000 / 10 = $2,200

8 0
3 years ago
"Scuba Diving." Marcy invented a new type of mask that was not subject to fogging forscuba divers and obtained a patent on it. S
weqwewe [10]

Answer:

The correct option is C,royalties

Explanation:

Royalties refers to payment received by the owner of  patent from the individuals making use of the patented design or product as a reward for creativity and originality.

Profits are excess of revenue over costs of doing business overall

Receipts are  inflows of cash and cash equivalents to the business either form sales transactions or from sources such as disposal of assets as well as issuance of shares.

Payoffs refers to the amount paid to an employee either upon retirement or on leaving a job

6 0
3 years ago
Fleet, Inc. manufactured 700 units of Product A, a new product, in 20Xl. Product Xs variable and fixed manufacturing costs per u
Ulleksa [173]

Answer:

The change in the dollar amount of inventory is $200 due to change in the inventory costing method.

Explanation:

The variable cost per unit is $6.00 while the fixed cost per unit is $2.00

Variable cost per unit = $6.00

Absorption cost pet units = $8.00

Total cost under absorption costing = Absorption cost per unit / number of units in ending inventory

Total absorption cost = $8.00 × 100 = $800

Total cost under variable cost = Variable cost per unit × number of units in ending inventory

Total variable cost = $6.00 × 100 = $600

Change in cost = Total absorption cost - Total variable cost

Change in cost = $800 - $600 = $200

3 0
2 years ago
Fortune Drilling Company acquires a mineral deposit at a cost of $5,900,000. It incurs additional costs of $600,000 to access th
IgorC [24]

Answer and Explanation:

the journal entry is given below:

Depletion Expense $1,358,500

         To Accumulated Depletion $1,358,500.

(Being depletion expense is recorded)

Here the depletion expense is debited as it increased the expense and credited the accumulated depreciation as it decreased the assets

Working note

Depletion expense is

= ($5,900,000 + $600,000) ÷ $2,000,000 × 418,000

= $1,358,500

8 0
2 years ago
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