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irina [24]
2 years ago
6

A homesteaded property is located in Jupiter, Florida, in Palm Beach County. The property has been assessed at $185,000. The cit

y tax rate is 8.8 mills, the county tax rate is 9.3 mills, and the school board levy is 6.5 mills. The owner is a widow and has qualified for and received homestead tax exemption. How much will the owner pay in property taxes
Business
1 answer:
anastassius [24]2 years ago
3 0

Answer:

The owner will pay in property taxes the sum of:

= $3,321.

Explanation:

a) Data and Calculations:

Assessed value of property = $185,000

City tax rate =                8.8 mills

County tax rate =          9.3 mills

School board levy =     6.5 mills

Total property rate = 24.6 mills

Homestead tax exemption in Florida = $50,000

Taxable property value = $135,000 ($185,000 - $50,000)

Property tax liability = $135,000 * 24.6/1,000 = $3,321

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The  most the firm should be willing to pay for installing the system is $444,000.

<h3>What is  just-in-time inventory management?</h3>

just-in-time inventory management is an inventory management system  and can be defined as the process in which companies have inventory at hand so as to have inventory to fall back to  in case the company want to urgently make use of inventory.

Hence, the most the firm should be willing to pay for installing the system is $444,000 since the company want  to reduce the level of inventories permanently by $444,000.

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2 years ago
Sheen Awnings reported net income of $90 million. Included in that number were depreciation expense of $3 million and a loss on
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Answer:

The Sheen’s cash flows from operating activities is $95 million

Explanation:

Cash flows from operating activities :

The cash flow from operating activities includes all those activities which are of short term period. Like changes in working capital or we can say increase in currents assets or decrease in current assets or increase/decrease in current liabilities.

The increase in current liabilities increase the cash balance, hence it is added and decrease in current liabilities decrease the cash balance. But in the case of current asset, it is opposite.

The depreciation expense and loss on sale of equipment is added. So, we take them in the computation part.

The cash flow from operating activities is equals to

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= $90 + $3 + $2 - $1 + $4 - $3

= $95 million

Hence, the Sheen’s cash flows from operating activities is $95 million

8 0
3 years ago
Company ABC provides a dependent care assistance flexible spending arrangement to its employees through a cafeteria plan. In add
Vladimir79 [104]

Answer:

Company ABC and Emily, a single filing taxpayer

The maximum amount excludable from Emily's gross income for the dependent care expenses, which Emily can report on her tax return is $3,000.

Explanation:

a) Data and Calculations for Emily:

Dependent care flexible spending arrangement deduction = $4,500

Fair market value of the on-site dependent care used = $700

Form W-2 reported dependent care assistance = $5,200

Maximum amount excludable from Emily's gross income for the dependent care expenses Emily can report on her tax return is $3,000.

b) According to the IRS records, Emily can exclude or deduct dependent care benefits provided by a dependent care benefit plan, an amount not exceeding $3,000 if one qualifying person was cared for or $6,000 if two or more qualifying persons were cared for.  Since the number of persons cared for is not disclosed, it is assumed that Emily cared for only one qualifying person.  Therefore, $3,000 is the maximum she is allowed to deduct.

4 0
3 years ago
An association had a fund balance of 75 on January 1 and 60 on December 31. At the end of every month during the year, the assoc
ValentinkaMS [17]

Answer: 0.11 or 11%

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Once you've got both numbers, divide the first by the second. which will offer you the dollar-weighted investment return, which you'll then multiply by 100 to give you a return in percentage terms.

3 0
3 years ago
he income statement columns in the end-of-period spreadsheet show that debits are equal to $26,754 and credits are $68,142. what
neonofarm [45]

The information that the statement columns in the end-of-period spreadsheet mean to the accountant is the accounts have not been updated and a net income of $41,388. The correct option is b and c.

<h3>Who is an accountant?</h3>

An accountant is a person who manages and calculates the accounts or finance of a company, a firm, or a person. He calculates the capital of the person, manage taxes and give advice about the finance of the person.

Given that, debits are $26,754 and credits are $68,142. If we subtract the debit from the credit. We see a net income of $41,388.

Thus, the correct option is b. the accounts have not been updated. c, net income of $41,388.

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