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lyudmila [28]
3 years ago
14

Your sole proprietorship makes $90,000 per year in profits. Your average federal tax rate is 24% and your state tax rate is 6%.

How much of your profits do you get to keep?
Business
2 answers:
Nookie1986 [14]3 years ago
7 0

Answer:

$63,000

Explanation:

Given that the total profit is $90,000 per year.

The average federal tax rate is 24% and the state tax rate is 6%.

So, total tax rate = 24% +6% =30%

Total taxable amount = 30% of $90,000

=(30/100)x 90,000=$27,000

The remaining amount = $90,000 - $27,000 = $63,000

Hence, I will keep $63,000 of my profit.

anzhelika [568]3 years ago
7 0

Answer:

$63,000

Explanation:

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Answer:

C. straight back chairs will be overcosted

Explanation:

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A. rocking chairs will be undercosted

B. There should be no impact on unit cost  

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D. rocking chairs will be overcosted.

EXPLANATION

If Miller automates the production of straight-back chairs and continues to use direct labor hours as a company-wide allocation basis then the straight back chairs will be overcosted<u> because the automation process directly implies that it no longer drives labor hours since it is no longer made by hand.</u>

Automated processes should use machine hours rather than labor hours, for the allocation of its overhead.

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3 years ago
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Who is the home inspector's most important source of business leads? A. Engineering firms B. Architects C. Real estate agents D.
Nikitich [7]
This would be C. the Real Estate Agents. The engineering firms are only in charge of the construction of the home and the materials that are to be used for building it. The Architects, on the other hand, are responsible for the design of the home and the placement of the materials of the home. The lending institutions are focused more on providing the home inspector with money that he will need for a piece of property. So that leaves us with the Real Estate Agents. It is these people who deal with the sales of property which is why they are the source of business leads.
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3 years ago
Century Real Estate’s primary broker is John Kerr. John is licensed as the broker of that company and he is licensed as a broker
fomenos

Answer:

The broker is doing two different jobs; so it is okay to have two different licenses.

Explanation:

In this case, since the broker is doing two different jobs then it is okay for him to have two different licenses. In a hypothetical case that the individual Broker was doing the same job role for two different companies then that would be considered a form of conflict of interest and may cause problems with both firms in the future. Since this is not the case, then he should not have any problem.

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3 years ago
Marguerite had been asked by her manager to write a summary of a seminar she had attended. Marguerite’s summary explained that t
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language barriers

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3 years ago
The residents of Bucktown, Illinois, place their trash at the curb each Wednesday morning to be picked up by Municipal Crews. Ex
svetoff [14.1K]

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