With the assessed value of $64,120, and tax rate of 3.2%, the annual tax bill the Smith's expect to pay is $2,051.84.
<h3><u>
What is tax?</u></h3>
- Taxes are compulsory payments made by a government organization, whether local, regional, or federal, to people or businesses.
- Tax revenues are used to fund a variety of government initiatives, such as Social Security and Medicare as well as public infrastructure and services like roads and schools.
- Taxes are borne by whoever bears the cost of the tax in economics, whether this is the entity being taxed, such as a business, or the final users of the items produced by the business.
Taxes should be taken into consideration from an accounting standpoint, including payroll taxes, federal and state income taxes, and sales taxes.
Simply multiplying the value and rate, we get the annual tax as $2,051.84.
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Answer:
C. he was happy to learn that he would be given a loan to cover all college expenses.
Explanation:
A student that is given a loan to cover college expenses have to go for entrance counselling in order to receive appropriate orientation and he will also have to sign promissory note that he will return the loan given.
Answer:
Selecting
Explanation:
The answer has been added into the question in this paragraph. It is in bold letters. Opportunity recognition is the process of identifying, <u>selecting</u>, and developing new venture opportunities.
when we talk about opportunity recognition we are talking about the ability to perceive new ideas, opportunities for a business or venture. as well as also being on the lookout for ways to improve. a person could just come up with new money making venture, or he could come up with ways to improve an existing venture.
Answer:
The ending inventory value using LIFO retail method is $710,000
Explanation:
Beginning inventory $590,000
Purchases $1,370,000
Net Markups ($64,000)
Net Markdowns ($34,000)
Goods Available For Sale $1,990,000
Cost to retail percentage = 70.91%
Net sales $1,280,000
Ending Inventory = $710,000