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Nookie1986 [14]
2 years ago
12

The assessed value for your buyer clients' new purchase is $209,000. They feel they got a great deal since they're purchasing th

e property for $175,000. They've asked you to estimate their monthly property taxes. You know the rate for their jurisdiction is .52%. What is the monthly tax amount your clients owe
Business
1 answer:
svlad2 [7]2 years ago
4 0

Answer:

Monthly tax amount = $90.57 (Approx)

Explanation:

Given:

Purchase value = $209,000

Rate = 0.52%

Find:

Monthly tax amount

Computation:

Monthly tax amount = ($209,000 x 0.52%)/12

Monthly tax amount = 1,086.80/12

Monthly tax amount = $90.57 (Approx)

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For america, the ________ was a great failure of foreign intelligence, a great tactical military success, and a great political
Liula [17]
The Tet offensive was considered to be one of the great debacles of foreign intelligence, wherein it yielded a military success however suffered a great political defeat. In addition, the military operation was considered to be one of the largest military offensive in the course of the Vietnam War.
4 0
3 years ago
LO.8, 9 Broadbill Corporation (E & P of $650,000) has 1,000 shares of common stock outstanding. The shares are owned by the
GarryVolchara [31]

Question Continuation

Determine the tax consequences of the redemption to Tammy and to Broadbill under the following independent circumstances.

Tammy and Jeremy are grandmother and grandson.

Answer:

See Explanation Below

Explanation:

Given.

Tammy number of shares = 300

Yvette number of shares = 400

Jeremy number of shares = 300

Each of the shareholders paid $50 per share.

Tammy's Ownership is calculated by; (300+300)/1000

= 600)1000

= 60% ---- before redemption

Tammy's Ownership = (150 + 300)/850

Tammy's ownership = 450/850

Tammy's Ownership = 52.94% ---- after redemption

The constructive ownership of Tammy is more than 80%, this means that the distribution is considered as income to Tammy

3 0
3 years ago
The current asset section of Stibbe Pharmaceutical Company’s balance sheet included cash of $34,000 and accounts receivable of $
Alexxandr [17]

Answer:

Ending balance in inventory= $22,000

Current liabilities= $88,000

Explanation:

The current assets section of stibblr pharmaceutical company included cash of $34,000 and accounts receivables of $54,000

The company's current ratio is 2.5

The acid test ratio is 2.0

Acid test ratio = cash + account receivables /current liabilities

2.0= ($34,000+$54,000)/current liabilities

2.0= 88,000/current liabilities

Current liabilities = 88,000/2

= $44,000

Current ratio= cash + account account receivables + inventory /current liabilities

2.5= $34,000+$54,000 + inventory/$44,000

2.5= $88,000+Inventory /44,000

2.5×44,000= 88,000 + inventory

110,000= 88,000 + Inventory

Inventory = $110,000-88,000

= $22,000

Hence the current liabilities is $88,000 and inventory is $22,000

3 0
3 years ago
PlastiPharm has several clients whose contracts require the company to store three to six months of raw materials for them just
ANTONII [103]

The reason why PlastiPharm should care about excess inventory is:

  • It can lead to the degradation of the raw materials

<h3>What is Excess Inventory?</h3>

This refers to the situation where there is a product that is yet to be sold due to the excess estimated demand for the product which leads to the overstock of the product.

With this in mind, we can see that PlastiPharm should be worried about the excess inventory because it can lead to the degradation of the raw materials as they are overstocked.


Read more about excess inventory here:
brainly.com/question/13829106

7 0
2 years ago
Which of the following would produce the largest increase in the contribution margin per unit? A 14% increase in variable cost.
Rama09 [41]

Answer:

A 7% increase in selling price.

Explanation:

Contribution margin refers to the difference between selling price and variable cost.

Contribution margin:

= Selling price - Variable cost

Net income:

= Contribution margin - Fixed cost

(i) 14% increase in variable cost:

It cannot, because it will decrease the contribution margin.

(ii) 17% decrease in fixed cost:

It cannot affect the contribution margin.

(iii) 15% decrease in selling price:

No, it will reduce the contribution margin.

(iv) 7% increase in selling price:

Yes, it will increase the contribution margin since there is an increase in the selling price.

(v) 23% increase in the number of units sold:

No, it will not impact the selling price or variable cost.

5 0
3 years ago
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