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nexus9112 [7]
2 years ago
5

As Lily files her taxes, she learns that her federal total tax due ends up being $206. According to her Federal income tax withh

eld, how much of a tax refund can she expect back?
Business
1 answer:
adoni [48]2 years ago
8 0

The tax refund that Lily can expect to get back from the tax authorities will be $15.80.

<h3>What is a tax?</h3>

A tax simply means the compulsory levy that's paid by the people and companies to the government.

In this case, the tax refund that Lily can expect back will be:

= 7.65% × $206

= $15.80

In conclusion, the correct option is $15.80.

Learn more about tax on:

brainly.com/question/25783927

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A company has a 40% gross margin, general and administrative expenses of $50, interest expense of $20, and net income of $70 for
Romashka [77]

Answer:

Answer is A

Explanation:

Remember Gross Margin = Gross Profit /Sales Revenue

We already know that Gross Margin = 0.4

We assume sales revenue as the unknown value (S)

Using the relationship above: Gross Profit (GP) = 0.4S

We know that Profit Before Tax = Gross Profit - General & Admin Expenses - Interest Expense

Substitute the values in the equation above.

Profit Before Tax (PBT) = 0.4S - 50 - 20

                                      = 0.4S - 70

To calculate the Tax we multiply the Tax rate (30%) by the PBT

Tax = (0.3) x (0.4S -70)

      = 0.12S - 21

We know that Net Income = PBT - Tax

We now substitute the values:

70 = 0.4S - 70 - (0.12S - 21)

Solving the equation for S results in the value of Sales Revenue equaling $425.

8 0
3 years ago
Assuming everything else stays the same, an increase in the price of laptop computers will __________ of laptop computers. a) de
tia_tia [17]

Answer:

a) decrease the quantity demanded

Explanation:

According to the law of demand, an increase in the price of a good reduces the quantity demanded for that good.

8 0
2 years ago
Dana spends several hours researching prices and online reviews of t-shirts for a school
Sunny_sXe [5.5K]

Answer:

B. The time spent on the task

Explanation:

The time that Dana spends carrying out her task is a cost to her.  That cost can be calculated by ascertaining the gains or benefits she has missed due to the research.

If Dana were not doing the research, she would be engaged in other activities. Those activities could have been of benefit to her, be it financially or otherwise. The benefits foregone are the cost of Dana doing the research.

8 0
3 years ago
Due to ____, market forces should realign the cross exchange rate between two foreign currencies based on the spot exchange rate
aksik [14]

Answer:

Triangular Arbitrage

Explanation:

Arbitrage is the financial practice in which the prices of two or more different markets are taken advantage of to make profit as a result of tthe imbalance in the prices of the markets.

Also known as 3 point or cross currency arbitrage, Triangular arbitrage is the taking advantage/ exploiting of the pricing differences between 3 currencies on the foreign exchange market.

Simply put, triangular arbitrage is a situation in which the exchange rates between 3 currencies are not the same.

Triangular arbitrage is difficult to come by as it requires very advanced computer systems to detect and take advantage of.

I hope this helps.

6 0
3 years ago
On January 1, 2021, Splash City issues $340,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and
Evgesh-ka [11]

Answer:

Dr cash                                          $310,831

Dr discount on bonds payable   $29,169

Cr bonds payable                                             $340,000

On 30th June 2021

Dr  interest expense      $ 15,542  

Cr cash                                            $15,300

Cr discount on bonds payable        $242

On 31st   December  2021

Dr  interest expense      $ 15,554  

Cr cash                                            $15,300

Cr discount on bonds payable        $254

Explanation:

The bond issued at a discount is the first bond whose cash proceeds of $310,831 were less than face value of $340,000.

Discount=face value -cash proceeds=$340,000-$310,831=$29,169.00  

Find attached bond amortization schedule.

Download xlsx
7 0
3 years ago
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