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nataly862011 [7]
3 years ago
15

Carey is a waiter at a restaurant that pays a small hourly amount plus tips. Customers are not required to tip the waiter. Carey

is especially attentive and friendly, and her tips average 25% of the restaurant charges. Is Carey required to include any of her tips in gross income when the customer has no legal obligation to make the payment
Business
1 answer:
Nina [5.8K]3 years ago
4 0

Answer:

Yes, she is required to include her tips in gross income.

Explanation:

Yes, Carey is required to include her tips in gross income. She is required to include both her small hourly amount and her tips, declaring both as a total sum amount. Even though the customer has no obligation to pay any tip of any kind to Carey, any tip she receives will count as compensation for services, as the tips are payments for her service to the customer.  

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Jamison's gross tax liability is $7,200. Jamison had $2,625 of available credits and he had $4,400 of taxes withheld by his empl
mina [271]

Answer:

The answer is: Jamison has $175 in taxes due.

Explanation:

To determine the amount of taxes that Jamison still has to pay, we can use the following formula:

Taxes due = tax liability - (taxes withheld by employer + tax credits)

Taxes due = $7,200 - ($4,400 + $2,625) = $7,200 - $7,025 = $175

Jamison has $175 in taxes due.

7 0
4 years ago
Compute conversion costs given the following data: direct materials, $347,500; direct labor, $196,300; factory overhead, $187,90
Alexxx [7]

Answer:

Conversion costs: d. $384,200

Explanation:

Conversion costs are the costs incurred on activities that convert raw material to finished goods. Conversion costs are calculated by using following formula:

Conversion costs = Direct labor + Factory overhead.

In the case: Direct labor  are $196,300; Factory overhead are $187,900

Therefore:

Conversion costs = $196,300 + $187,900 = $384,200

5 0
3 years ago
Act II Costumes currently has $120,000 in cash, $340,000 in inventory, and $20,000 in accounts receivable. The company also has
Len [333]

Answer:

Quick ratio = Current assets - Inventory/Current liabilities

= $480,000 - $340,000/$40,000

= 3.5

Current assets = $120,000 + $340,000 + $20,000 = $480,000

Current liabilities = $20,000 + $20,000 = $40,000

Explanation:

Explanation: Quick ratio is the ratio of liquid assets to current liabilities. Liquid assets are current assets less inventory. Liquid assets amounted to $140,000 while current liabilities are $40,000. The division of liquid assets by current liabilities gives quick ratio.                                                                                                                      

5 0
3 years ago
a While troubleshooting a problem, you realize the problem is caused by a complex series of issues that will affect a large numb
Jet001 [13]

The next step to undertake in the troubleshooting process is:

  • To document the incident

<h3>What is Troubleshooting?</h3>

This refers to the various ways through which a person assesses a problem and eliminates them.

In the troubleshooting process, we can see that there are various processes which includes: Information gathering, analysis, implementation, etc.

However, as the problem is caused by complex issues, it is best to document the incident so that it can be more carefully analysed.

Read more about troubleshooting here:
brainly.com/question/25953942

8 0
3 years ago
Normative and positive statements
Gekata [30.6K]

Answer:

Normative

Positive

Normative

Positive

Explanation:

Positive Economics is objective and statements are usually based on facts and economic theory. They can be tested.  

For example, the statement , In some circumstances, if taxes are lowered,

government revenues actually increase, can be tested and it has it basis in economic theory

Normative economics is based value judgements, opinions and perspectives. For example, the statement - taxes are too high - is based on opinion. To some it is too high while to others it would be too low

8 0
3 years ago
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