Because net is after costs are taken out of gross income
Answer:
total taxable income = $73,000
tax liability = $7,505
Explanation:
Clarice's ordinary income $30,000
Clarice's capital gains:
- selling of stock = $34,000 - $16,000 = $18,000
- selling of coin collection = $55,000 - $30,000 = $25,000
- total long term capital gains = $43,000
Clarice's taxable income = $73,000
Clarice's ordinary income tax rate 2011:
ordinary income = $30,000 - standard deduction $5,800 = $24,200
- 10% on taxable income from $0 to $8,500 = $850
- 15% on taxable income over $8,500 to $34,500 = $2,355
ordinary income taxes = $3,205
Clarice's capital gains tax rate 2011 = 10%
capital gains taxes = $43,000 x 10% = $4,300
total tax liability = $7,505
Answer:
$237
Explanation:
From the information given
Using FIFO perpetual inventory method, we have
(8 × 11) + (11 × 10) + (3 × 13)
= 88 + 110 + 39
= 237
Therefore, cost of 22 units sold is $237
Note: FIFO perpetual inventory method is a cost flow tracking system where the first unit of inventory acquired is the first unit of inventory sold. So in this case, we calculated the cost of the first 22 unit acquired.
Answer:Business plan
Explanation:
A business plan is a written document describing the nature of the business, the sales and marketing strategy, and the financial background, and containing a projected profit and loss statement.
The Fed's open market bond purchases will increase the money supply. If it sells bonds on the open market, the amount of money in circulation will fall.
<h3>What is the process of Open Market Operations?</h3>
This is why. The Fed purchases a Treasury bond from one of its principal dealers when it makes a bond purchase. One of the 23 financial institutions authorized to do business with the Fed is included. These dealers regularly deal in government bonds and regard the Fed as a regular client. It is important to note that the government issued the bonds that are being sold on the secondary open market months or years ago, and they won't mature for another few months or years.
To learn more about Open Market Operations refer to:
brainly.com/question/16260032
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