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Gre4nikov [31]
3 years ago
6

$10,000 of profit from a sole proprietorship in 2020. If he also has $140,000 of salary income, how much self-employment tax wil

l he owe
Business
1 answer:
Nady [450]3 years ago
5 0

Answer:

268 dollars

Explanation:

Profit made by this sole proprietor = 10000

Salary income = 140000

The question needs us to calculate the self employment tax that he owes

This tax is about 2.9% of 92.35% of his income. His salary is already more than social security maximum of 128,700.

The, self-employment tax would be = 10,000 x 92.35% x 2.9%

= 267.815

When approximated

= $268

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The process of accomplishing the goals of an organization through the effective use of people and other resources is
Licemer1 [7]

Answer:

the process of accomplishing the goals of an organization through the effective use of people and other resources. involves analyzing information, setting goals, and making decisions about what needs to be done. ... determines to what extent the business is accomlishing the goals it set out to reach in the planning stage.

Explanation:

I've explained enough on top.

8 0
3 years ago
Support functions manage and improve the efficiency of an organization's conversion processes so that more value is created.
HACTEHA [7]

Answer:

a) true

Explanation:

Support Function include Information Technology, Human Resources, Finance and Marketing. These are there to ensure that conversion process is efficient by providing support services such as sourcing of talent, fund management, communication.

3 0
3 years ago
1. Discuss how core factors, cues to quality, and interpersonal factors of a product influence your buying decisions. Discuss wi
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Explanation:

Interpersonal product feature play a role in determining one's buying decision. For example, an individual who is open to new experiences may be more likely to try a new technology.

Another example is that of an individual who has a negative view of how he or she looks or dresses, he or she may tend to seek and buy products that could enhance how they feel about themselves.

As regards the quality of a product, it is usually based on the purchase plan period. For example, an individual who notices he needs an item urgently may be less likely to include quality in his buying decision, especially when it's a life-saving item for an emergency. But someone who has the time and has been planning to buy an item for months, will more likely examine quality before he makes a buying decision.

5 0
3 years ago
Robinson Company had a net deferred tax liability of $34,000 at the beginning of the year, representing a net taxable temporary
forsale [732]

Answer:

deferred income tax benefit during 2018:     6,700

deferred income tax liability ending balance 27,400

Explanation:

beginning deferred tax laibility 34,000

this will change to 21,000 for the tax rate change

(100,000 x 21% = 21,000)

thus there is a decrease of 13,000 in the tax liablity

Then:

book income                    400,000

temporary differenc(net): (30,000)

Taxable income               370,000

30,000 x 21% = 6,300 additional deferred tax expense

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5 0
3 years ago
The simple circular flow model shows that A. total income received by households is less than the total value of goods and servi
mars1129 [50]

Answer:

The answer is B.

Explanation:

The simple circular flow model is also known as two-sector circular flow of income model and the the two sectors are firms and households. There is no government sector or foreign sector.

It assumes that households spend all their income on goods and services produced by firms while the firms spend their income on factors of production (labor, land etc.) which are owned by households.

Therefore, total income received by households will be equal to the dollar value of all goods and services produced.

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