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Wittaler [7]
3 years ago
11

Which of the following taxes is not deductible as an itemized deduction?a. Property tax on second residenceb. Sales tax in a sta

te with no income taxc. Federal income taxd. State income tax
Business
1 answer:
Rudiy273 years ago
3 0

Answer:

<u>b. Sales tax in a state with no income tax</u>

Explanation:

  • Under the laws of the united states, itemized deductions are eligible expenses that an individual taxpayer can claim on federal income if available.  
  • Based on there taxable incomes the taxes can be deduced and the sales taxes with no income tax do not come under the deductible tax.
  • The list of expenses can also be itemized by there are limited to the tax year.
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Del Gato Clinic deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the clo
Sergeeva-Olga [200]

Answer:

Explanation:

Bank Reconciliation: The bank reconciliation deals with the bank statement balance and the cash statement balance. The motive is to compare these two statements so that the organization can run in the smoothly manner.  

There are various transactions due to which the bank statement balance and the cash statement balance do not match. To match these statements, we adjust the transactions accordingly.

The journal entries are shown below:

a. No journal entry required

b. Miscellaneous expense A/c Dr $16

        To Cash A/c                                      $16

(Being service charges is paid)

c.  Cash A/c Dr $9                      ($476 - $467)

           To Utilities expense A/c $9

(Being correction is recorded)

d. No journal entry required

The preparation of the  bank reconciliation statement is presented in the spreadsheet. Kindly find the attachment below:  

8 0
3 years ago
Harmony Company sells hand-knit scarves. Each scarf sells for $40. The company pays $60 to rent vending space for one day. The v
Nataly_w [17]

Answer:

B) 3 scarves

Explanation:

total fixed costs per day = $60 (rent)

selling price per scarf = $40

variable cost per scarf = $15

contribution margin = selling price per unit - variable cost per unit = $40 - $15 = $25

break even formula in units = total fixed costs / contribution margin = $60 / $25 = 2.4 units, since you can only sell complete units, the break even amount is 3 scarves.

8 0
3 years ago
Suppose you purchase five put contracts on Testaburger Co. The strike price is $45, and the premium is $3. If, at expiration, th
andriy [413]

Answer:

3000

1500

Explanation:

For each of the answers in this question I have added the formulas to solve them in the attachment below

1.

(45-39)*5*100

= 3000

2.

(45-39)-3 x5 x100

= $1500

7 0
3 years ago
If we assigned three people to work with you on a complex project containing 75 tasks that you were responsible for, how would y
Anni [7]
First of all, I will try to get to know people who were assigned to me. as I will have 75 tasks and equality is very important to me, I will give each person 25 task. if they will have some problems with given task I will try to help them or change their tasks so they can be more comfortable with their work. As a leader, i will do work as well, if my team will have some problems i will listen to them and solve those problems together. 
3 0
3 years ago
What are the top three types of sole proprietorships and percentages?
Slav-nsk [51]
Self-Employed Business Owner. A self-employed business owner is someone who conducts a trade or business with the intent of making a profit. ...
Independent Contractor. ...
Franchise.
5 0
3 years ago
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