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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 government of Wrexington, a country which has adopted American GDP accounting conventions, has calculated that the seasonall
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Answer:

d.$20 billion at an annual rate

Explanation:

As $5 billion was quarter 1 market value of final goods and services produced,the annual rate will be $5*4=$20 billion annually

4 0
3 years ago
Working capital cash flow. Cool​ Water, Inc. sells bottled water. The firm keeps in inventory plastic bottles at 11​% of the mon
lianna [129]

Answer:

The answer is attached;

Explanation:

Download xlsx
5 0
3 years ago
Data concerning Follick Corporation's single product appear below: Selling price per unit $ 270.00 Variable expense per unit $ 7
kumpel [21]

Answer:

Break-even point (dollars)= $219,000

Explanation:

Giving the following information:

Selling price per unit $270

Variable expense per unit $78.30

Fixed expense per month $ 155,490

To calculate the break-even point in dollars, we need to use the following formula:

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 155,490/ [(270 - 78.3)/270]

Break-even point (dollars)= $219,000

8 0
3 years ago
The following is the stockholders' equity section of Harbor Co.'s balance sheet on December 31:Common stock $10 par, 100,000 sha
AnnyKZ [126]

Answer:

Book value per share: 48.88

Explanation:

The book value per share is the minimun value of the company equity.

Book value per share = (Total Equity - Preferd Equity) / Total shares outstanding

Book value per share = 2,200,000 / 45,000  

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In the numerator, we do not deduct anything from equity because there are no preferred shares. In the dividend, the outstanding shares are 45,000, because 50,000 have been issued and 5,000 are held in treasury, despite being authorized to issue 100,000 shares.

6 0
3 years ago
On April 2, Kelvin sold $40,000 of inventory items on credit with the terms 1/10, net 30. Payment on $24,000 sales was received
motikmotik

Answer:

Explanation:

The journal entry is shown below:

1. Accounts receivable A/c Dr $160

        To Sales discounts forfeited $160

(Being sales discount  is recorded)

The computation of the sales discount is shown below:

= (Sales value - payment made) × discount rate

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2. Cash A/c Dr $16,000

       To Accounts receivable A/c $16,000

(Being cash is received)

4 0
3 years ago
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