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snow_tiger [21]
3 years ago
7

You have a job at a real-estate agency in the small country of Dystopia, where you are paid 72,000 marks (the currency of Dystop

ia) a year. You are now faced with the decision of whether to work a second job at the local university teaching a real-estate investing class, where the pay is 45,000 marks a year. Social insurance tax and income tax rates are listed below.
Social insurance taxes: 7.65% on your first 110,100 marks of total income
Income taxes:

Taxable income (in marks) Tax rate
0–8,700 10%
8,700–35,350 15%
35,350–85,650 25%
85,650–178,650 28%

a.) Using the information above, what would be the total amount you pay in social insurance taxes on your second job? Give your answer to two decimals.
b.) What is your income tax bill for the second job? Give your answer to two decimals.
c.) What is your total tax bill for the new job? Give your answer to two decimals.
Business
2 answers:
pshichka [43]3 years ago
7 0
yussssssssssssssssssssssss
vivado [14]3 years ago
5 0

Answer:

2,914.65

2nd question : 12,190.50

Explanation:

income to be taxed is equal to (110,100 - 72,000) = 38,100 conchs. The tax itself is 7.65% × 38,100 =  2,914.65

2nd explaination: 25% × (85,650 - 72,000) = 25% × 13,650 = 3,412.50 conchs

28% × (45,000 - 13,650) = 28% × 31,350 = 8,778

Total income tax = 3,412.50 + 8,778 = 12,190.50 .

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Answer:

Net operating cash flow = $189,250

Explanation:

Particulars                                    Amount$

Net income                                    250,000

Add:depreciation expense           9,500

Add:loss on sale of asset              1,250

Add:increase in salary payable    19,500

Less:increase in prepaid rent       (27,500)

Add:increase in AP                        29,500

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Net operating cash flow              <u>$189,250</u>

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Answer:

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Explanation:

hope it helps

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