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siniylev [52]
3 years ago
8

Juan purchased a property for $420,000 and financed $336,000 of it. The assessed value of the property is $387,000. The property

appraisal came in at $432,000. Which of these amounts is used in calculating the property tax?
Business
1 answer:
liq [111]3 years ago
3 0

When it comes to calculating property tax, the most relevant amount is the assessed value of <u>$387,000.</u>

When calculating property tax, the useful figures are:

  • The assessed value of the house
  • The Property tax rate

This assessment is arrived at in various ways but once it is arrived at, it is then multiplied by a figure known as the mill levy and the result will be the property tax.

In conclusion, the assessed value is most useful.

<em>Find out more at brainly.com/question/19643657. </em>

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Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types o
Nikolay [14]

Explanation:

The computation of the activity rate for each activity is shown below:  

As we know that

Activity Rate = Expected rate ÷ Activity Driver

For Handling material = $650,000 ÷ 100,000 = $6.50 per part

For Inspecting product = $925,000 ÷ 1,500 parts = $616.67 per batch

For Processing purchase orders = $130,000 ÷ 700 = $185.72 per orders

Paying supplies = $200,000 ÷ 500 = 400 per invoices

Insuring the factory = $325,000 ÷ $40,000 = $8.125 per square foot

Designing packaging = $100,000 ÷ 2 models = 50,000 per models

5 0
3 years ago
The Goodyear Tire &amp; Rubber Company's December 31, 2016, financial statements reported the following (in millions). Cash Dece
Gnom [1K]

Answer:

A. $1,476 million.

Explanation:

Cash at beginning of the year + cash from operating activities + Cash from investing activities + cash from financing activities

Cash at beginning of the year + $1,504 -$973 -$875 = $1132

Cash at beginning of the year - $344 = $1132

Cash at the beginning of the year = $1132 + $344

Cash at the beginning of the year = $1,476 million

6 0
3 years ago
Below are transactions for Wolverine Company during 2021.
zimovet [89]

Answer:

a.Unearned revenue $1,550

Service revenue $1,550

b. Dr Insurance expense $6,060

Cr Prepaid insurance $6,060

c. Dr Salaries expense $2,100

Cr Salaries payable $2,100

d. Dr Interest expense $175

Cr Interest payable $175

e. Dr Supplies expense $3,000

Cr Supplies $3,000

Explanation:

Preparation to Record the necessary adjusting entries at December 31, 2018, for Wolverine Company.

a.Unearned revenue $1,550

Service revenue $1,550

($3,100/2)

(Being to record rent revenue)

b. Dr Insurance expense $6,060

Cr Prepaid insurance $6,060

($12,120*6/12)

(Being to record insurance expense l

c. Dr Salaries expense $2,100

Cr Salaries payable $2,100

(Being to record salaried expense)

d. Dr Interest expense $175

($10,500*10%*2/12)

Cr Interest payable $175

(Being to record Interest expense)

e. Dr Supplies expense $3,000

Cr Supplies $3,000

($910+$2,500-$410)

(Being to record Supplies expense)

8 0
3 years ago
Bramble Corp. purchased land as a factory site for $1305000. Bramble paid $121000 to tear down two buildings on the land. Salvag
AURORKA [14]

Answer:

Part 1

$1,422,940

Part 2

$331,480

Explanation:

cost of the land calculation

Purchase Price                             $1305000

Cost to tear down building             $121000

Sale of Salvages                               ($8400)

Leagl fees                                           $5340

Total                                            $1,422,940

The cost of the land that should be recorded by Wilson Co. is: $1,422,940

cost of the building calculation

Architect's fees               $47000

Insurance                          $3900

Liability insurance            $4200

Excavation cost               $15480

city for pavement             $9900

Borrowing Costs           $251000

Total                              $331,480

The cost of the building should be recorded by Wilson Co. is $331,480

4 0
3 years ago
True or false: Subsection (d) under section 10 of the Federal Arbitration Act requires the court to review the merits of every c
Vanyuwa [196]

It is a  <u>False </u>statment to say that subsection (D) of section 10 of the Federal Arbitration Act mandate that the court review the merits of every construction of a contract. The act speaks to Arbitration.

<h3>What does the Federal Arbitration Act of the United States of America say?</h3>

Subsection (D) of section 10 of the above stated Act state that the United States Court would vacate an award upon application by any of the party to the arbitration:

<em>Where the arbitrators exceeded their power or so imperfectly executed them that a mutual, final and definite award upon the subject matter submitted was not made.</em>

See the link below for more about Arbitration:

brainly.com/question/1139969

5 0
2 years ago
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