All categories

3 years ago

The united states taxes each barrel of imported oil at a flat rate. this is

1 answer:

3 0

<span>The United States taxes each barrel of imported oil at a flat rate. This is known as a tariff. A tariff is a tax or duty that is paid on a class of imports and exports. Different items that are being imported or exported in a country have different taxes added on to them depending on where they fall on the class bracket. </span>

You might be interested in

Ralph owns a building that he is trying to lease. Ralph is a calendar-year, cash-method taxpayer and is trying to evaluate the t

bulgar [2K]

Answer:

a. The amounts that are included in Ralph's gross income this year if a tenant signs lease 1 on December 1 and makes timely payments under that lease

= $8,640

b. The amounts that are included in Ralph's gross income this year if the tenant signs lease 2 on December 31 and makes timely payments under that lease:

= $7,920

c. The amounts that are included in Ralph's gross income this year if the tenant signs lease 3 on November 30 and makes timely payments under that lease:

= $10,080

Explanation:

a) Data and Calculations:

Leases: Lease Payments Security Remarks

Deposit

Lease 1 Monthly rent = $720 $720 Refundable at the lease end

Lease 2 Yearly rent = $7,920 None None

Lease 3 Monthly rent = $720 $1,440 Non-refundable; last months' rent

1) The amounts that are included in Ralph's gross income this year if a tenant signs lease 1 on December 1 and makes timely payments under that lease

= $720 * 12 = $8,640

2) The amounts that are included in Ralph's gross income this year if the tenant signs lease 2 on December 31 and makes timely payments under that lease:

= $7,920

3) The amounts that are included in Ralph's gross income this year if the tenant signs lease 3 on November 30 and makes timely payments under that lease:

= ($720 * 12) + $1,440

= $8,640 + $1,440

= $10,080

b) Since Ralph is a cash-method taxpayer, the amounts of lease rents that are included in his gross income equal the total amounts received in the calendar-year.

8 0

3 years ago

Gibbs Corporation produces industrial robots for high-precision manufacturing. The following information is given for Gibbs Corp

nordsb [41]

Answer:

Gibbs Corporation

1) Fixed cost per unit

= $810

2) ROI per unit

= $4,277

3) Markup percentage = Total cost per unit

= 252-927%

3b) Target selling price, using absorption costing

= Total cost per unit plus Markup

= $5,960

Explanation:

a) Data and Calculations:

Per Unit Total

Direct materials $410

Direct labor $340

Variable manufacturing overhead $ 75

Fixed manufacturing overhead $1,708,000

Variable selling and administrative expenses $ 56

Fixed selling and administrative expenses $ 560,000

Total variable and fixed costs $881 $2,268,000

ROI = 22% = $11,974,600 ($54,430,000 * 22%)

Invested assets = $54,430,000

Estimated annual production units = 2,800

1) Fixed cost per unit = $810 ($2,268,000/2,800)

2) ROI per unit = $4,277 ($11,974,600/2,800)

3) Markup percentage = Total cost per unit = $4,277/$1,691 * 100 = 252.927%

3b) Target selling price, using absorption costing

= Total cost per unit plus Markup = $5,960 ($1,691 + $4,277)

8 0

3 years ago

. Terry purchases an annuity with payments made at the beginning of each month for 36 payments. The monthly payments are a const

lara31 [8.8K]

Answer:

The present value of the annuity is $ 825.02

Explanation:

The present value of the annuity is the today's worth of the thirty annuity payments.

Each of the annuity payment is multiplied by its discount factor,for instance the discount factor for the first payment is computed thus

=$15*(1/(1+6%/12)^1=$14.93

The 6% interest rate is divided by 12 months to show a monthly rate of return find attached.

Download xlsx

4 0

3 years ago

Linda and Richard are married and file a joint return for 2019. During the year, Linda, who works as an accountant for a nationa

Vesnalui [34]

Answer:

$4,850

Explanation:

the amount of fringe benefits that should be included in Linda and Richard's gross income on their 2019 tax return is $4,850

This was gotten by adding $850 worth of employee discount coupons for hotel rooms and $4,000 in tuition fees during 2019

$4,000 + $850

= $4,850

4 0

4 years ago

Acc 450 specific misstatement in one of a client's 2,000 accounts receivable is referred to as a(n):___.

torisob [31]

Acc 450 specific misstatement in one of a client's 2,000 accounts receivable is referred to as a(n) <u>known misstatement.</u>

There are two categories of errors: known and likely. The amount of specifically determined misstatements is what Section 312A.35 refers to as known misstatements.

For instance, it would be a known untruth if an unpaid invoice for items purchased or services supplied prior to the end of the period given was not recorded.

According to Section 312A.35, "the auditor's best assessment of the overall misstatements in the account balances or classes of transactions" is what is meant by "likely misstatements." When an auditor uses analytical or sampling techniques, probable misstatements may be found.

For instance, if an auditor applies sampling methodologies to a certain class of transactions and finds a known misstatement in the items examined, the auditor will project the known difference found in the samples to find the likely misstatement.

To learn more about Misstatement here

brainly.com/question/15321980

#SPJ4

3 0

2 years ago