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Nikitich [7]
3 years ago
8

Carlita began 2014 with a taxes payable account balance of $3,000. On December 31, 2014, its taxes payable account balance is $7

,000. How much did Carlita pay to the tax authorities during the year?
Business
1 answer:
aleksandr82 [10.1K]3 years ago
4 0

Answer:

$2,000

Explanation:

The computation of the amount pay to the tax authorities during the year is shown below;

Let us assume the accrued payment be $6,000

Let us assume the amount pay to the tax authorities be X

Beginning Taxes payable account balance + Accrued payment - X = Ending taxes payable account balance

$3,000 + $6,000 - X = $7,000

$9,000 - X = $7,000

So, the X is

= $9,000 - $7,000

= $2,000

hence, the amount pay to the tax authorities is $2,000

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Elmer’s utility function is U(x, y) = min{x, y2}. If the price of x is $25 and the price of y is $15 and if Elmer chooses to con
Arte-miy333 [17]

Answer:

the income is $1,330

Explanation:

The computation of the income is shown below;

Given that

U(x, y) = min{x, y2}

Price of x is $25

ANd, the prcie of Y is $15

So,

25X + 15Y = M

if Y = 7,

So,  

At eqm, X = Y^​​​​​​2 = 49

Then ,

M = 25 × 49 + 15 × 7

= 1225 + 105

= 1330

Hence, the income is $1,330

The same should be relevant and considered too

6 0
3 years ago
Buying or selling stock is _____.
NNADVOKAT [17]
INVESTING IS THE CORRECT ANSWER ]

4 0
3 years ago
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What is the new 2021 conforming loan limit for 1-4 family homes?
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Conforming Loan Limits Increase By 18% in 2021 for the Year Ahead.
7 0
2 years ago
Robin inherits 1,000 shares of Wal-Mart stock from her aunt in 2019. Accord-ing to the information received from the executor of
lana66690 [7]

Answer:

Explanation:

Adjusted Basis

Adjusted basis is balanced estimation of the first premise of a property, balanced for any capital increments or capital recuperation's.

Capital options can be in type of any expense acquired on capital upgrades or any improvement added to the property by citizen. Capital recuperation's have conspicuous sorts like deterioration and cost recuperation's and furthermore any losses and burglaries.

Ms R. acquired 1,000 loads of organization W from her auntie at a balanced premise of $55,000. Then again Mr. A life partner of Ms. R got an endowment of 1,000 supplies of organization W from his uncle having balanced premise of $7,000.

Inheritance Basis

At whatever point an individual being a citizen acquire any property, the premise of valuation of the property is honest assessment on the demise's passing. On the other hand, if the agent or manager of the bequest chooses balanced premise can be the honest assessment a half year after the date of death.

On account of Ms. R her auntie's agent accommodates a balanced premise of $55,000 which will be the honest evaluation of stocks and the equivalent will be the balanced reason for Ms. R

Gift Basis

In the event that an individual gets a blessing being property, the citizen will have a cost premise of zero which will blow up the increases when the property is sold by him. To abstain from clashing statutory standard that blessings are outside the domain of personal assessment, premise is given to beneficiary. This depends on date of blessing, premise of benefactor, blessing charge paid and honest assessment.

Endowments premise is figured in two structures, one if the removal of property brings about increase and other if removal brings about misfortune.

1. Gain: If deal brings about addition at that point balanced reason for donee will be lower of the balanced premise of the giver.

2. Loss: in the event that deal brings about misfortune, at that point balanced reason for donee will be lower of the balanced premise of the benefactor or honest evaluation on date of blessing

On account of Mr. A his uncle has a balanced premise of $7,000 which thusly will be the balanced reason for Mr. A too

Therefore, it very well may be presumed that the significant motivation behind why there is a considerable distinction between balanced premise of Ms. R and Mr. An is that, for Ms. R honest assessment is the balanced premise. Then again for Mr. A balanced premise of his uncle in his own balanced premise.

3 0
3 years ago
At the beginning of the year, Smith Company budgeted overhead of $129,600 as well as 13,500 direct labor hours. During the year,
andre [41]

Answer:

Part 1

$9.60

Part 2

$11,129

Part 3

Journal 1

Debit : Overheads $172,500

Credit : Equipment lease $ 6,800

Credit : Depreciation on building 19,340

Credit : Indirect labor 90,400

Credit : Utilities 14,560

Credit : Other overhead 41,400

<em>Being overheads incurred</em>

Journal 2

Debit : Work In Process $173,760

Credit : Overheads $173,760

<em>Being overheads applied</em>

Part 4

under-applied overheads is $1,260

Part 5

$636,860

Explanation:

Overhead rate = Budgeted Overheads ÷ Budgeted Activity

                        = $129,600 ÷ 13,500

                        = $9.60

Total cost (Job K456)  = $2,750 + $5,355 + $3,024 = $11,129

Actual Overheads = $ 6,800 + $19,340 + $90,400 + $14,560 + $41,400 = $172,500

Applied overheads = 18,100 x $9.60 = $173,760

Since, Actual Overheads < Applied overheads, overheads have been under-applied. Amount of under-applied overheads is $1,260 ($173,760 - $172,500)

Under-applied overheads are added to cost of goods sold. Therefore, adjusted cost of goods sold will be $636,860 ($635,600 + $1,260)

7 0
2 years ago
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