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2 years ago

What is an annual pre tax income

2 answers:

7 0

Pretax earnings are a company's earnings after all operating expenses, including interest and depreciation, have been deducted from total sales or revenues, but before income taxes have been subtracted.

shutvik [7]2 years ago

5 0

<span>Pretax earnings are a company's earnings after all operating expenses, including interest and depreciation, have been deducted from total sales or revenues, but before income taxes have been subtracted.</span>

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2. Ernesto purchased a used car for $6800. He paid 64% sales tax. How much tax did he pay?

Oxana [17]

6800*.64= 4352

Ernesto payed $ 4352 in tax

4 0

2 years ago

Sandra borrows $25,000 from Joshua at 5 percent interest and signs a promissory note agreeing to repay the principal and intere

GenaCL600 [577]

Answer:

Non negotiable Instruments

Explanation:

Non negotiable instruments are documents that guarantees(without changes) the payments of a specific amount of money, whose payer is usually named on the document. Non negotiable instruments may not be transferred from the holder or named party to another.

The non negotiable instrument usrd in this case between sandra and Joshua is a promissory note that states the terms and details of the repay or payback. Normally, a promissory note falls under the negotiable instrument, but because it contains a reference to another document, it then becomes a non negotiable instruments.

7 0

2 years ago

Red Co. recorded a right-of-use asset of $140,000 in a 10-year finance lease. Payments of $22,784 are made annually at the end o

alexandr402 [8]

Answer: $121554

Explanation:

Lease liability = $140,000

Less: Lease liability in 1st year= $8784

Lease payable after one year = $131216

Less: Lease liability in 2nd year = $9662.40

Lease payable after 2nd year = $121553.60 = $121554

Note:

Lease liability in 1st year:

= $22,784 - (10% × $140000)

= $22784 - $14000

= $8784

Lease liability in 2nd year:

= $22784 - (10% × $131216)

= $22784 - $13121.60

= $9662.40

5 0

2 years ago

You pay for cheese and bread from the deli with currency. which function of money does this best illustrate?

Jobisdone [24]

The above example of buying cheese and bread best illustrates money's function as:

D. Medium of Exchange

By exchanging currency, you were able to buy food products from the deli. This is one of the most powerful functions of money.

Hope this helps!

8 0

3 years ago

Compute the taxable income for 2020 for Aiden on the basis of the following information. Aiden is married but has not seen or he

Alina [70]

Answer: See explanation

Explanation:

a. Cash dividend received on Chevron common stock - Taxable

Salary Interest on bonds issued by City of Boston - Taxable

Life insurance proceeds - Not taxable

Interest on a CD issued by Wells Fargo - Taxable

Bank Inheritance received upon the death of his aunt - Not taxable

Proceeds from repayment of a loan - Not taxable

b. What is Aiden's filing status?

Aiden's filing status will be head of household.

c. Should Aiden itemize his deductions or take the standard deduction?

He should take the standard deduction.

d. Aiden's taxable income in 2020 will be:

Salary = $80,000

Add: Interest on a CD issued by Wells Fargo = $2000

Add: Cash Dividend received on Chevron Common Stock = $2200

Annual gross income = $84200

Less: Standard Deduction for Head of the Household (2019) = $18350

Taxable income = $84200 - $18350 = $65850

3 0

2 years ago