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algol13
3 years ago
14

Georgia's gross pay was 35,600 this year she is to pay a federal income tax of 16% how much should georgia pay in federal income

ax this year
Business
2 answers:
OverLord2011 [107]3 years ago
6 0

To determine the tax amount you multiply the gross pay and the tax percentage. In this case, you would multiply $35,600 by .16 which equals $5,696 for the federal tax year. Remember: to convert a percentage to a decimal number, move the decimal place 2 places to the left.

n200080 [17]3 years ago
4 0

Answer:

the correct answer to this $29.90

Explanation:

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All of the following are reasons to use an estimated method of costing inventory except: A. perpetual inventory records are not
morpeh [17]

Answer:

The answer is: B) purchase records are not maintained.

Explanation:

There are two methods for estimating inventory costs:

  1. Gross Profit Method : uses the information from the income statement. If operating conditions remain similar, the proportion between total sales, profits and COGS should be similar (lets say profit is 30% and COGS is 70% of total sales). You can estimate your inventory costs by using the information on total sales.  
  2. Retail Method: It is used mostly by merchandising firms (retailers) that have consistent mark-ups. You have to determine the proportion between cost and retail price (lets say the COGS is 80% of the retail price). Then if you are given the retail inventory, you can determine the COGS using the proportion determined previously.

8 0
3 years ago
As a component of real estate value, the principle of substitution states that
k0ka [10]

Answer:

a. If two similar properties are for sale, a buyer will purchase the cheaper of the two.

Explanation:

The principle of substitution justifies the idea that the maximum value of a property will be set by the selling price of an equally valuable and desirable substitute property. In this case of property sale, if an area has two similar houses and one is being sold for $912,000 and the other is priced at $105,000, buyers will most likely go for the cheaper one. There is no reason to pay more money if they will be getting a similar property at low cost.

3 0
3 years ago
According to generally accepted accounting principles (GAAP), revenue is recognized as income when:
bogdanovich [222]

Answer:

the transaction is complete and the goods or services are delivered.

Explanation:

According to generally accepted accounting principles (GAAP), the revenue should be recognized when the goods or services are delivered and the transaction is completed in all respects.  

The revenue recognition principle applies when the revenue is realized or earned whether cash is received or not plus it also follows the accrual basis of accounting. Here, realizable means that customer received the product but the payment is made at the later date

4 0
3 years ago
F your own idea,why does a business exist.?​
geniusboy [140]

If F my own idea, why do Businesses exist? to get that paperrrrr

Don't take this seriously, this is a joke.

7 0
3 years ago
Accounts Payable: $19,207
lisabon 2012 [21]

Answer:

total liabilities = $169,008

Explanation:

total liabilities:

  • Accounts Payable: $19,207
  • Discount on Bonds Payable: ($7,000) ⇒ contra liability account
  • Sales Tax Payable: 3,512
  • FICA Tax Payable: 3,200
  • Bonds Payable: 100,000
  • Note Payable, due in two years 1,709
  • Unearned Service Revenue 30,500 ⇒ must be reported as a liability
  • Salaries and Wages Payable 17,880

to determine the total liabilities we just have to add both current and long term liabilities, and subtract any contra liability accounts = $176,008 - $7,000 = $169,008

7 0
2 years ago
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