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3 years ago

3. From the following, select the tax that is

Business

1 answer:

Natalka [10]3 years ago

5 0

Answer:

A.) Payroll tax: money deducted from a person's salary that is sent to the government by the employer.

Explanation:

Payroll tax refers to the mandatory tax deductions imposed by the government on employees. The employer acts as the tax agent and withholds the taxes on every paycheck. The taxes are remitted to the government after collection.

The term payroll tax is used because the tax is based on the amount earned by employees. Sales tax is the tax imposed on the sale of goods and services. Income tax is imposed on income earned.

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The Ivanhoe Chemical Corporation announced that, for the period ending March 31, 2017, it had earned income after taxes of $2,76

pychu [463]

Answer:

Depreciation =$541,138.36

Explanation:

Income after tax = Profit before tax - income tax

Profit before tax = Profit before interest and tax (PBIT) - interest expense

Profit before interest and tax (PBIT) = Revenue - cost of sales - Depreciation and amortization

Cost of sales = 61% of sales = 61%× $13,148,000 =8,020,280

before before tax = Profit after tax /(1-T)

Profit before tax = 2,768,313.00/(1-0.34) = 4,194,413.64

Profit before interest and tax = Profit before tax + interest

= 4,194,413.64 + 392,168 = 4,586,581.64

Profit before interest and tax (PBIT) = Revenue - cost of sales - Depreciation and amortization

We can substitute the figures into the equation above to work out the depreciation and amortization

4,586,581.64 = 13,148,000 - 8,020,280 - depreciation

Depreciation= 5127720 - 4,586,581.64 =541,138.36

Depreciation =$541,138.36

4 0

4 years ago

Bulbs and tubers are roots

sasho [114]

Bulbs and tubers are underground stems and they are not roots.

Explanation:

A bulb is an underground storage organ formed from the plant stem and leaves. The body of the bulb is made up of layers of fleshy scales said to be leaves and at the bottom of the bulb is thin, flat disc called basal plate which is a compressed stem and the roots grow from this. The examples of bulbs are onions, tulips, narcisuss and lilies.

Tubers are food and energy storage structure like true bulbs.They are enlarged stem tissue and do not have a basal plate or papery tunic. The examples of tubers are potatoes, begonias and dahlias.

Thus Bulbs and Tubers are underground stems and are not roots.

8 0

3 years ago

Read 2 more answers

"The insurance company gets information about gas leakage in several houses that use the same gas provider that your customer do

wlad13 [49]

Answer: $2550

Explanation:

Note that the probabilities of total loss and 50% damage were tripled and the probability of no fire has therefore changed to:

1 - 0006 - 0.024 = 0.97.

The company wants to keep same annual gain from the policy ($750), and the question now is, what would the new premium (N) be which will satisfy this? To get this, we need to solve the equation for:

N:750 = (N - 100,000)(0.006) + (N - 50,000)(0.024) + N(0.97)

Thus, 750 = N - 600 - 1,200, or N - 1,800. Therefore,N= 750+1,800= 2,550.

To account for the added risk which the insurance company is taking by continuing insuring the customer, the premium changes from $1,350 to $2550

4 0

3 years ago

Galindo Long-Haul, Inc., is considering the purchase of a tractor-trailer that would cost $178,848, would have a useful life of

kondor19780726 [428]

Answer:

the internal rate of return is 12%

Explanation:

The computation of the internal rate of return is as follows;

Year Cash flows

0 -$178,848

1 $36,000

2 $36,000

3 $36,000

4 $36,000

5 $36,000

6 $36,000

7 $36,000

8 $36,000

Now apply the IRR formula

= IRR()

After applying it, the internal rate of return is 12%

8 0

3 years ago

Hugh, a self-employed individual, paid the following amounts during the year: Real estate tax on Iowa residence $3,800 State inc

allochka39001 [22]

Answer:

$7,650

Explanation:

Calculation to determine the maximum amount Hugh can claim as taxes in itemizing deductions from AGI

Real estate tax on lowa residence $ 3,800

Add Greater of sale tax or state income tax $ 1,750

Add Real estate tax on a vacation home $ 2,100

Itemized deduction allowable $ 7,650

($3,800+$1,750+$2,100)

Therefore the maximum amount Hugh can claim as taxes in itemizing deductions from AGI is $7,650

4 0

3 years ago