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S_A_V [24]
3 years ago
9

In 2019, Sheryl is claimed as a dependent on her parents' tax return. Sheryl did not provide more than half her own support. Wha

t is Sheryl's tax liability for the year in each of the following alternative circumstances? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates, Estates and Trusts for reference
Business
1 answer:
yan [13]3 years ago
7 0

Answer:

Total tax ( Sheryl ) = $802

Explanation:

Tax status of Sheryl = Single

The rates to be used are

  • Tax rate = 10%  for single taxpayers with income between $0 through $9700
  • Tax for income from estates that is between $2600 through $9300 will be $260 + 24% of excess over $2600

kiddie tax is applicable on earned income above $2200 ( defined by IRS )

attached below is a  detailed table

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City Builders is a development company that builds office buildings throughout New York State. They recently completed a project
Scrat [10]

Answer:

Incentive Zoning

4 0
3 years ago
Which of the following is a condition necessary to exclude an obligation from current liabilities? Entry field with incorrect an
lutik1710 [3]

Answer:

The answer is: Obligation that has a distant due date exceeding company's operating cycle.  

Explanation:

A current liability is a financial obligation due within one year (or one normal operation cycle).

So a financial obligation that has a due date that exceeds a company´s operating cycle should have been directly classified as a long term liability (or a non current liability) in the first place. It simply is not a current liability that is changed into a long term liability, it always was a long term liability.

The other options represent the steps necessary for turning a current liability into a long term liability.

  1. Intend to refinance the obligation on a long-term basis.
  2. Demonstrate the ability to complete the refinancing.
  3. Subsequently refinance the obligation on a long-term basis.

7 0
3 years ago
the length and Length breadth and height of a room in a house are 8m 6m and 4m respectively the house on a decides to paint the
trasher [3.6K]

Answer:

Cost\ of\ 112m^2 = 4.48

Explanation:

Given

<u>Dimension</u>

Length= 8m

Breadth = 6m

Height = 4m

Cost per m^2 = 0.04

Required

Determine the total cost to paint 4 walls

First, we need to calculate the area of the 4 walls.

Area = 2*(Length * Height) + 2 *(Breadth * Height)

Substitute values for Length, Breadth and Height

Area = 2*(8m* 4m) + 2 *(6m* 4m)

Area = 2*(32m^2) + 2 *(24m^2)

Area = 64m^2 + 48m^2

Area = 112m^2

Cost per m^2 = 0.04.

Cost\ of\ 112m^2 = 112 * 0.04

Cost\ of\ 112m^2 = 4.48

8 0
3 years ago
A steel manufacturing firm with about 1,000 employees operates in an environment that is simple and integrated (it makes a small
WINSTONCH [101]

Answer:

Organic structure.

Explanation:

Organic structure: It is defined as flat organizational structure as it does not follow normal hierarchical structure, it is more of a decentralized structure with a lesser layer of management at every level, where more information is shared among employee and each department co-operate with other departments, which helps the organization to adapt well with the changes. Employees have the opportunity to participate in the decision-making process of the organization.

In the given case, Steel manufacturing firm are following an environment that is simple and integrated but also dynamic and hostile, which is a perfect organic structure.

4 0
3 years ago
A. On April 1, the company hired an attorney for a flat monthly fee of $2,000. Payment for April legal services was made by the
Cerrena [4.2K]

Answer:

Apr 30

Dr Legal fees expense $2,000

Cr Legal fees payable $2,000

May 12

Dr Legal fees payable $2,000

Cr Cash $2,000

Apr 30

D Interest expense $2,559

Cr Interest payable $2,559

May 20

Dr Interest expense $5,118

Dr Interest payable $2,559

Cr Cash $7,677

Apr 30

Dr Salaries expense $3,200

Cr Salaries payable $3,200

May 03

Dr Salaries expense $4,800

Dr Salaries payable $3,200

Cr Cash $8,000

Explanation:

Preparation of the adjusting journal entries to prepare financial statements as of April 30 and the subsequent entry during May to record payment of the accrued expenses.

Apr 30

Dr Legal fees expense $2,000

Cr Legal fees payable $2,000

May 12

Dr Legal fees payable $2,000

Cr Cash $2,000

Apr 30

D Interest expense $2,559

Cr Interest payable $2,559

May 20

Dr Interest expense $5,118

($7,677- $2,559)

Dr Interest payable $2,559

Cr Cash $7,677

Apr 30

Dr Salaries expense $3,200

($8,000*2/5)

Cr Salaries payable $3,200

May 03

Dr Salaries expense $4,800

($8,000*3/5)

Dr Salaries payable $3,200

($8,000*2/5)

Cr Cash $8,000

8 0
3 years ago
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