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olganol [36]
3 years ago
9

Paying Your Taxes Reading Quiz

Business
1 answer:
Nitella [24]3 years ago
8 0

Answer:

a) Tax paid to the state, federal, and local governments based on income earned over the past year.

Explanation:

Income tax is the tax imposed on workers by the state or federal government. It is based on a worker's regular pay, for example, a monthly salary or wage. Income tax is usually a percentage of gross income.

Payment of income tax is mandatory. Employers are required to withhold the income tax amount and submit it to the state or federal government.

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Suppose an investor is interested in purchasing the following income producing property at a current market price of $450,000. T
Vikki [24]

Answer:

Net Present value of Project is $9,890

Explanation:

Net present value is the Net value all cash inflows and outflows in present value term. All the cash flows are discounted using a required rate of return.

Net Present Value of Property is $9,890

Workings are made in an MS Excel file, which is attached with this answer. please find it.

Download xlsx
6 0
3 years ago
in partnership businesses.if one partner withdraws part of his salary. How to record it in appropriation account and Current acc
tester [92]

Answer:

it can be to be and so

Explanation:

6 0
3 years ago
WHICH ACCURATELY DEMONSTRATES THE PROGRESSION OF TECHNOLOGY
nalin [4]
Technology
<span> “Digital technology has revolutionized information delivery. Forever blurring the lines between information and entertainment.” As a matter of fact, digital technology with the co-existence of the internet has evolutionarily change the pace of communication and interaction between two worlds, spheres, spaces and entities. The downside of this fact is that there is an ongoing cataclysmic overlapping of both gossip and news by the uprising of social media like Twitter, Facebook and other social networking sites. In this the news fails to prevail.    <span>

</span></span><span>Attaining a skill in driving an automobile is not by any means culture-related. It is an influence of a global mainstream of the science community which invoked technology into being. Technology encompasses such being able to use your gadgets such as cellphones, tablets and other devices. It also needs to be learned and not by any means under culture. A pilot learning skillfully to manipulate a plane, a captain to his ship and etc. all of which are examples of technological advancement and is global. 
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7 0
3 years ago
Pine Company provides for doubtful accounts expense at the rate of 2% of credit sales. The following data are available for 20X4
aev [14]

Answer:

the allowance for doubtful account balance is $28,000

Explanation:

The computation of the allowance for doubtful account balance is given below:

Allowance for Doubtful Doubts Balance

= Beg Balance + Bad Debt Expense - Accounts written off

= $18,000 + (2% of $1,500,000) - $20,000

= $18,000 + $30,000 - $20,000

= $28,000

hence, the allowance for doubtful account balance is $28,000

7 0
3 years ago
A donor gave equipment valued at $60,000 at the beginning of 2017 to a private not-for-profit organization. The equipment had a
tiny-mole [99]

Answer:

Usually the nonprofit organization should report the value of the donated asset as the difference between the price when donated minus depreciation: $60,000 - $6,000 = $54,000.

But nonprofit organization can choose to recognize only a part of the donation each year as long as they use the asset. This recognized part is usually equivalent to the depreciation cost, so the value of the asset at the end of the year will always be 0. They do this to show smaller balances in order to try to attract more donations. It is always harder for wealthy nonprofit organizations to get more donations, so be having 0 assets donated, they pretend to be "poorer".

4 0
4 years ago
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