Answer:
Bob Katz and Sally Mander
Taxable Income for 2018:
= $78,200
Explanation:
a) Data and Calculations:
Total wages = $102,400
Gain from sale of stock = 5,200
Interest income = 100
Total income = $107,700
less total deductions = (29,500)
Taxable Income = $78,200
b) Bob Katz and Sally Mander will have taxable income of $78,200 when the appropriate rate of tax is applied and the tax liability obtained, then the $1,500 tax credit will be deducted before arriving at the tax liability due.
c) The short-term capital gain of $5,200 is taxed as ordinary income. Since it is held for less than a year, it will be included in the taxable income for that year and it follows the same tax brackets as ordinary income. On the other hand, the long-term capital gain of $13,000 will attract a tax rate of 0 percent for a taxable income of $78,200. Otherwise, it will attract a tax rate of 15 percent or 20 percent, depending on income level. This means that long-term capital gains tax rates are much lower than the ordinary income tax rate.
Dividends that were paid last year = $200
Retained earnings = $522
Net Income = Retained earnings + Dividends paid = 200+522 =722
Tax rate was 38%.
Earnings before tax (EBT) = Net income/ (1-tax rate) =722/(1-0.38) = 1,164.52
Interest expense= 624
Earnings before interest and tax (EBIT) = EBT + interest expense = 1,164.52 + 624 = 1,788.52
Earnings before interest and tax (EBIT) = 1,788.52
In the cash flow statement financing activities refer to the flow of cash between a business and its owners and creditors.
Answer:
The answer is: Detroit $196.87
Explanation:
We first must add the cost of visiting the five cities:
Detroit $196.87
Pittsburgh $180.32
St. Paul $102.87
Cincinnati $155.81
<u>Richmond $211.86 </u>
Total cost $847.73
Then we find what is the difference between the total cost and the road trip budget: $847.73 - $652 = $195.73
The cheapest city that Richard can drop is Detroit, by doing so his total expenses will be $650.86, which is below his budget.
You would say "<span>Mr. Schott, Ms. West, sales representative for Seascape Graphics."
In professional introductions like this, you should include both name, position, and the place of the workers of that person. By doing this, your boss will understand the probable intent of that person and understand the relevancy between her and what the company wants to achieve.</span>
