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Natasha2012 [34]
3 years ago
8

A retail store credited the sales revenue account for the sales price and the amount of sales tax on sales. if the sales tax rat

e is 5% and the balance in the sales revenue account amounted to $294,000, what is the amount of the sales taxes owed to the taxing agency? $14,000 $14,700 $280,000 $294,000
Business
1 answer:
alexira [117]3 years ago
8 0
We have to calculate the amount of the sales taxes owed to a taxing agency.
The tax rate is 5% ( 0.05 ) and the balance in the sales revenue account amounted to $294,000.
$294,000 * 0.05 = $14,700
Answer:
Amount of the sales taxes is B ) $14,700.
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168,000 is amount of the gain is Ethan allowed to exclude from his gross income

Solution:

Ethan's post 2009 non-qualified use is 2 years.

He owned the property for 10 years so he is not allowed to exclude 20% of the gain

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He is allowed to exclude = ($210,000 - $42,000)

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3 years ago
Klassen Toy Company, Inc., assembles two parts: Part 1 is first processed at workstation A for 15 minutes per unit and then proc
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Answer:

a) Process A is the bottleneck of the process

b) Hourly capacity = 60 / bottlenecktime = 60/25 = 2.4 units / hour

Explanation:

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Thus part 1 take 15 + 10 i.e. 25 minutes two complete both processes

Part 2 is processed at C for 20 minutes.

Output from B and C i.e. part 1 and 2 respectively are fed to process D where the time taken to assemble is 15 minutes

Thus looking at the given data,

Part 1 takes longer time i.e. 25 minutes to reach process C compared to part 2 i.e. 20 minutes

So bottleneck occurs at process A and B because it takes maximum time i.e. 25 minutes

a) Process A is the bottleneck of the process

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3 years ago
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3 years ago
Mason and Kirsty purchase 30 shares of Apple stock on January 1, 2009 for $72.49 per share. Mason and Kirsty receive $0.36 per s
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Answer:

  • after-tax average annual return = 14.41%
  • after tax dividends per year = $38.88

Explanation:

initial investment = 30 shares x $72.49 per share = $2,174.70

- dividends received per year = 30 shares x $0.36 x 4 (dividends paid every quarter) = $43.20

after tax dividends per year = $43.20 x 90% = $38.88

- long term capital gains = (30 shares x $183 per share) - initial investment =  $5,490 - $2,174.70 = $3,315.30

taxes on long term capital gains = $3,315.30 x 10% = $331.53

To calculate Mason and Kirsty's after tax average annual return (interest rate) we can use the excel spreadsheet =RATE function, where:

  • PV = -2174.70
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  • Pmt = 38.88
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=RATE (nper, pmt, pv, [fv])

=RATE (7,38.88,-2174.70,5158.47) = 14.41%

5 0
4 years ago
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