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Darina [25.2K]
2 years ago
8

Who most likely actually pays the tax on rental property?

Business
2 answers:
mario62 [17]2 years ago
5 0
It is definitely the landlord .
LiRa [457]2 years ago
4 0

landlord jk

Explanation:

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Equipment that cost $875,000 and had a book value of $390,000 was sold for $450,000. Data from the comparative balance sheets ar
Archy [21]

Answer:

a. $1,400,000.

Explanation:

Find the attachment

4 0
3 years ago
Rick Palmer received a $2,500 raise this year. This increased his salary as an associate TV producer from $45,000 to $47,500. Wh
PilotLPTM [1.2K]

Answer: Rick had a 5.55%  nominal salary Increase.

Explanation:  In Finances & Economics , Nominal value is measured in terms of money . This means that the value has not been adjusted against inflation and will only show the "Number Value" rather than the economic value which is how much purchase power this salary increase really means.

The formula to calculate the % for this nominal increase is : (Final Value - Initial Value) / Initial Value * 100 ==>> ($47500-$45000)/$45000 = 0.55 *100 ===> 5.5%

4 0
3 years ago
What is the income threshold for self-employed workers to file a tax return.
Stolb23 [73]

Answer:

$400 or more

Explanation:

6 0
2 years ago
flora Quinton is buying a new air compressor for her auto repair shop. it sells for $1,299. She makes a down payment of $199 and
Luba_88 [7]
I believe the answer is $1,100
3 0
3 years ago
On July 1, 2021, Markwell Company acquired equipment. Markwell paid $185,000 in cash on July 1, 2021, and signed a $740,000 noni
Alenkasestr [34]

Answer:

c. Debit: Discount on notes payable, $41,884.

Explanation:

The journal entry is shown below:

Equipment    $883,116  

Discount on Notes payable $41,884  ($740,000 - $698,116)

        To Notes payable       $740,000  

        To Cash                       $185,000

(Being the amount paid in cash and note payable is recorded)

Working note

= Note payable amount × PVF factor at 6% for one year

= $740,000 × 0.94340

= $698,116

For recording this we debited the equipment as it increased the assets and discount is always debited while the note payable and cash is credited as it increased the liabilities and reduced the assets

7 0
3 years ago
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