Quiz
2 answers:
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Answer:
(a) Ebony's taxable income = $42,540
(b) Amount of tax due = $5190.3
(c) Amount of tax owed = $4810.3
Step-by-step explanation:
Ebony's gross income = $46,660 (given)
Allowable tax deductions = $4,120 (given)
(a) Taxable Income = Gross income - Tax deductions
Ebony's taxable income = $46,660 - $4,120
Ebony's taxable income = $42,540
(b) Amount of tax due = 22% of Taxable Income,
Refer to the USA Tax Brackets for 2019 (See Attached image)
Amount of tax due = 10% on first $9,700 + 12% on ($39475-$9700) + 22% on ($42540-$39475).
Amount of tax due = 10% on first $9,700 + 12% on $29775 + 22% on $3065.
Amount of tax due = $970 + $3573 + $647.3
Amount of tax due = $5190.3
(c) Ebony pays $95 per week in tax. In four weeks (a month), she'd pay
$95 * 4 = $380
Amount of tax owed = Amount of tax due - Amount of tax paid
Amount of tax owed = $5190.3 - $380 = $4810.3
John sold 10 hamburgers and 14 cheeseburgers.
Step-by-step explanation:
Given,
Cost of one hamburger = $3
Cost of one cheeseburger = $3.50
Total burgers sold = 24
Total revenue earned = $79
Let,
Number of hamburgers sold = x
Number of cheeseburgers sold = y
According to given statement;
x+y=24 Eqn 1
3x+3.50y=79 Eqn 2
Multiplying Eqn 1 by 3
Subtracting Eqn 3 from Eqn 2
Dividing both sides by 0.50
Putting y=14 in Eqn 1
John sold 10 hamburgers and 14 cheeseburgers.
Keywords: linear equation, elimination method
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