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Verdich [7]
2 years ago
9

Alain Mire files a single tax return and has adjusted gross income of $314,000. His net investment income is $43,000. What is th

e additional tax that Alain will pay on his net investment income for the year
Business
1 answer:
ratelena [41]2 years ago
4 0

Answer:

$1,634

Explanation:

The computation of the additional tax to be paid is shown below:

Additional tax is

= Tax rate × net investment income

= 0.038  × $43,000

= $1,634

We simply multiplied the tax rate with the net investment income in order to determine the additional tax

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On January 1, 2019, Stronger Industries issued $480,000 of 9%, five-year bonds that pay interest semiannually on June 30 and Dec
Katena32 [7]

Answer:

Journal Entry to record the first interest payment

June 30, 2019

Dr. Interst Expense $19,979.32

Dr. Premium on Bond $1,620.68

Cr. Cash $21,600

Explanation:

First, we need to calculate the premium on bond amortization as follow

Premium on bond amortization = Coupon Payment - Interest Expense

Premium on bond amortization = ( $480,000 x 8% x 6/12 ) - ( $499,483  x 8% x 6/12 )

Premium on bond amortization = $21,600 - $19,979.32

Premium on bond amortization = $1,620.68

4 0
2 years ago
Is Starbucks bucking the trend of other food-service stores?
Bond [772]
Mhm yeah I think soooo lol
5 0
2 years ago
Why would a government want to use expansionary fiscal policy to help stimulate aggregate demand if, in the long run, we would e
Oksana_A [137]

Answer:

It could take a long time for prices to adjust by market forces alone.

Explanation:

Based on the information provided within the question it can be said that the the government would want to do this mainly due to the fact that It could take a long time for prices to adjust by market forces alone. Therefore by using expansionary fiscal policy they would speed this process up and get prices adjusted in a much shorter time-frame.

8 0
3 years ago
Who inverted the first Guitar
Alex787 [66]
<span>Gaetano Vinaccia invented the six string guitar.</span>
6 0
3 years ago
Married taxpayers Otto and Ruth are both self-employed and file a joint return. Otto earns $435,200 of self-employment income an
Alina [70]

Answer: $1,458.90

Explanation:

As they are filing together, the first step would be to find out the taxable income after accounting for Ruth's loss.

Total taxable income = Otto's earnings - Ruth's loss

= 435,200 - 23,100

= $412,100

There is an additional 0.9% Medicare tax on the amount that people file that is above $250,000 when they file jointly and are married..

The additional Medicare will be:

= (412,100 - 250,000) * 0.9%

= $1,458.90

4 0
2 years ago
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