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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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Debora [2.8K]

Answer:

Prioritizing

Explanation:

its most necessary

7 0
2 years ago
$800 of supplies were purchased at the beginning of the month and the Supplies account was increased. As of the end of the perio
krok68 [10]

Answer:

a.Supplies expense would be debited for $600.

Explanation:

Assuming there is no opening Inventory:

End of period supplies balance = Opening balance  + purchases in the period - Expense for the period

200 = 0  + 800 - Expense for the period

Expense for the period = 800 - 200

Expense for the period = 600

So the correct option is a.Supplies expense would be debited for $600.

8 0
3 years ago
On March 1, 2018, Lewis Services issued a 6% long-term notes payable for $18,000. It is payableover a 3-year term in $6000 princ
GaryK [48]

Answer:

B) Cash A/c Dr $18,000

          To Long-Term Notes Payable $18,000

Explanation:

Since we have to pass the journal entry for the beginning year, so we have to record the issued amount also,

The journal entry is shown below:

Cash A/c Dr             $18,000

    To Long-Term Notes Payable     $18,000

(Being long term notes payable)

The principal installment amount should not be considered in the recording of the journal entry. Hence, it is ignored.

3 0
2 years ago
If Track Changes is used in a document, what steps are critical to perform before sharing the final version of a document?
Tpy6a [65]

Answer:

Review all the Markups and make the requiered changes

Explanation:

Track changes permits to edit a text before the final version its complete, then reviewing all the Markups made in the editing process is critical to define the final version of the text that then will be share.

3 0
3 years ago
Read 2 more answers
Doogan Corporation makes a product with the following standard costs:
AveGali [126]

Answer:

Direct material quantity variance= $2,170 unfavorable

Explanation:

<u>To calculate the direct material quantity variance, we need to use the following formula:</u>

Direct material quantity variance= (standard quantity - actual quantity)*standard price

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Direct material quantity variance= $2,170 unfavorable

4 0
2 years ago
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