Which of these is NOT a concern for consumers in times of inflation?

A 38-year-old investor places $25,000 into a single premium qualified deferred variable annuity. Twenty years later, with the ac

Bad White [126]

The total tax liability is $12,500.

<h3>What is the total tax liability? </h3>

Due to the fact that the account is qualified annuity, the total amount withdrawn is subject to tax. Also, because the investor is less than 59.5 years, the investor pays an additional tax of 10%.

The effective total tax = 25% + 10% = 35%

Total tax liability = 25% x $50,000

= 0.25 x $25,000 = $12,500

To learn more about taxes, please check: brainly.com/question/25311567

6 0

2 years ago

Blossom Company lends Blue Spruce industries $61200 on August 1, 2022, accepting a 9-month, 12% interest note. If Blossom Compan

Svetlanka [38]

Answer:

Dr interest expense $2448

Dr interest payable $3060

Dr Notes payable $61,200

Cr cash($2448 +$3060 +$61,200) $ 66,708.00

Explanation:

The interest accrued at 31st December 2022 is interest for 5 months which is calculated thus:

interest as at 31st December=5/12*12%*61,200=$3060

On that interest expense would have been debited while interest payable is credited with $3060

On the due date, interest for another months need to computed as follows:

interest for four months=4/12*12%*61,200=$2448

8 0

3 years ago

How are collective goods different from private goods? collective goods and private goods both offer broadly distributed benefit

Free_Kalibri [48]

Collective Goods basically mean that everything that exists (at least where it is practiced) is shared with everyone! From food to blankets and other household necessities. Whilst Private goods are goods YOU privately own and can be shared, but at your choice otherwise its just yours.

5 0

4 years ago

Sen Corp., a publicly-traded, mid-cap company, wanted to obtain $30 million in new capital to expand its Iowa plant. Cost of cap

Delvig [45]

Based on the information given, the approach that describes the strategy that was used by the company is that Sen Corp. should issue the debentures since the after-tax cost of debt (5.347%) would be less than the cost of equity (5.825%).

A debenture simply refers to the rule of bond that's unsecured by collateral. Debentures typically rely on the reputation of the issuer.

From the complete information, the company wants to obtain $30 million in new capital to expand its plant. Therefore, it's appropriate to issue the debentures since issue the cost of equity is more than the after-tax cost of debt.

Learn more about debentures on:

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5 0

2 years ago

Dextra Computing sells merchandise for $16,000 cash on September 30 (cost of merchandise is $11,200). Dextra collects 9% sales t

IrinaVladis [17]

Answer:

1. Dr Cash $17,440

Cr Sales $16,000

Cr Sales Taxes Payable $1,440

2. Dr Cost of Goods Sold $11,200

Cr Merchandise Inventory $11,200

3. Dr Sales Taxes Payable $1,440

Cr Cash $1,440

Explanation:

1. Preparation of the journal entry to Record the cash sale and 9% sales tax

Dr Cash $17,440

(16,000 + 1,440)

Cr Sales $16,000

Cr Sales Taxes Payable $1,440

(16,000 x 9%)

2. Preparation of the journal entry to Record the cost of September 30th sales

Dr Cost of Goods Sold $11,200

Cr Merchandise Inventory $11,200

3. Preparation of the journal entry to Record the entry that shows Dextra sending the sales tax on this sale to the government on October 15

Dr Sales Taxes Payable $1,440

Cr Cash $1,440

(16,000 x 9%)

7 0

3 years ago