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scZoUnD [109]
3 years ago
6

The tax liability of a corporation with ordinary income of $105,000 is ________. Range of taxable income - Marginal rate $0 to $

50,000 - 15% 50,000 to 75,000 - 25 75,000 to 100,000 - 34 100,000 to 335,000 - 39 335,000 to 10,000,000 - 34 10,000,000 to 15,000,000 - 35 15,000,000 to 18,333,333 - 38 Over 18,333,333 - 35 A) $42,000 B) $35,700 C) $23,950 D) $24,450
Business
1 answer:
zhannawk [14.2K]3 years ago
6 0

Answer:

$24,199.02

Explanation:

corporation's ordinary income = $105,000

tax brackets              taxable income       tax rate          taxed due

$0 - $50,000                 $50,000                 15%           $7,500.00

$50,001 - $75,000        $24,999                 25%           $6,249.75‬

$75,001 - $100,000       $24,999                 34%           $8,499.66

$100,001 - $105,000        $4,999                 39%           $1,949.61

total taxes due                                                                $24,199.02

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timofeeve [1]

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Explanation:

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4 0
3 years ago
Catherine works for BluCorp, which has an employee handbook stating that employees will be terminated for good cause. Catherine'
barxatty [35]

Answer:

b. contract exception to employment at will.

Explanation:

The implied contract exception to employment law is available in at-will employment. BluCorp may be found liable for breach of contract firing Catherin due to be violating an implied employment contract.

Implied employment contracts are seen when there are employer's personnel policies stating that an employee will not be fired except for good and fair cause.

7 0
3 years ago
On August 1, 1958, first-class postage for a 1-ounce envelope was 4 cents. On August 1, 2007, a first-class stamp for the same e
Andrej [43]

Answer:

4.86%

Explanation:

Given that,

First-class postage for a 1-ounce envelope = 4 cents

On August 1, 2007

A first-class stamp for the same envelope cost = 41 cents

Period, n = 49 years

F=P(1+i)^{n}

41=P(1+i)^{49}

\frac{41}{4}=(1+i)^{49}

10.25\ cents=(1+i)^{49}

1.0486=(1+i)

i = 1.0486 - 1

 = 0.0486 or 4.86%

Therefore, the interest rate is 4.86%.

3 0
3 years ago
Four years ago, Velvet Purses purchased a mailing machine at a cost of $154808. This equipment is currently valued at $25955 on
AVprozaik [17]

Answer:

the book value of the shareholder equity is $53,413

Explanation:

The computation of the book value of the shareholder equity is shown below;

Book value of shareholders equity is

= Book value of mailing + net working capital - Long term debt

= $25,955 + $92,535  $65,077

= $53,413

Hence, the book value of the shareholder equity is $53,413

5 0
3 years ago
Logan, an employee of Argon Industries, earned a salary of $60,000 in year 2. In addition, the following two transactions betwee
Mariana [72]

Answer:

$88,000

Explanation:

Calculation to determine What amount of compensation should Argon report in Logan's Form W-2 for year 2

First step is to determine the bargain element

Bargain Element=$25 per share-$10per share

Bargain Element=$15 per share

Now let determine the amount of compensation

Using this formula

Compensation=Salary earned+Taded stock+(Shares of publicly traded stock*Bargain element)

Let plug in the formula

Compensation=$60,000+$13,000+($100 shares*$15 per share)

Compensation=$60,000+$13,000+$15,000

Compensation=$88,000

Therefore the amount of compensation that Argon should report in Logan's Form W-2 for year 2 $88,000

8 0
3 years ago
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