Contemporary Mathematics for Business and Consumers
7th Edition
ISBN: 9781285189758
Author: Robert Brechner, George Bergeman
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
thumb_up100%
Chapter 18.III, Problem 21RE
To determine
To calculate: The amount of tax refund or tax owed of person E if the tax liability is $5,320, tax credits is $2,110 and other taxes is $325 and payments are $4,650.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Mike is filing as the head of a household. Her taxable income is $61,014. Use the Tax Table, Exhibit 18-3 from your text to find the tax liability.
A. $6,940.68
B. $7,321.68
C. $7,971.08
You are the loan department supervisor for a bank. This installment loan is being paid off early, and it is your task to calculate the rebate fracti
Finance
Charge
Rebate
Amount Number of
Financed Payments
$4,700
36
Need Help? Read It
Monthly
Payment
$165.33
Payments
Made
30
2
Rebate
Fraction
X
$19.8396
X
Loan
Payoff
$ 1,011.82
Shirley Riddle's net biweekly earnings are
Chapter 18 Solutions
Contemporary Mathematics for Business and Consumers
Ch. 18.I - Use Exhibit 18-1 to determine the amount of sales...Ch. 18.I - Andy Bennett purchased a car for $38,600 at Auto...Ch. 18.I - At the end of a business day, the cash register at...Ch. 18.I - An archery set at The Sports Authority in Mason,...Ch. 18.I - Use Exhibit 18-1 to determine the sales tax and...Ch. 18.I - Use Exhibit 18-1 to determine the sales tax and...Ch. 18.I - Use Exhibit 18-1 to determine the sales tax and...Ch. 18.I - Use Exhibit 18-1 to determine the sales tax and...Ch. 18.I - Use Exhibit 18-1 to determine the sales tax and...Ch. 18.I - Use Exhibit 18-1 to determine the sales tax and...
Ch. 18.I - Calculate the missing information for the...Ch. 18.I - Calculate the missing information for the...Ch. 18.I - Calculate the missing information for the...Ch. 18.I - Calculate the missing information for the...Ch. 18.I - Calculate the missing information for the...Ch. 18.I - Calculate the missing information for the...Ch. 18.I -
Calculate the missing information for the...Ch. 18.I - 14. Gloria Carey purchased a refrigerator at Best...Ch. 18.I - 15. Sig Moline purchased supplies at Office Max...Ch. 18.I - Last month The Sweet Tooth Candy Shops had total...Ch. 18.I - Abby Duncan purchased a diamond necklace for...Ch. 18.I - 18. The federal excise tax on commercial aviation...Ch. 18.I - BUSINESS DECISION: SPLITTING THE TAX You are the...Ch. 18.II - Calculate the tax due on a condominium with an...Ch. 18.II - Calculate the tax due on a three-acre parcel of...Ch. 18.II - Prob. 7TIECh. 18.II - Prob. 8TIECh. 18.II - Prob. 9TIECh. 18.II - Calculate the assessed value and the property tax...Ch. 18.II - Calculate the assessed value and the property tax...Ch. 18.II - Calculate the assessed value and the property tax...Ch. 18.II - Calculate the assessed value and the property tax...Ch. 18.II - Calculate the assessed value and the property tax...Ch. 18.II - Calculate the assessed value and the property tax...Ch. 18.II - Calculate the assessed value and the property tax...Ch. 18.II - Calculate the assessed value and the property tax...Ch. 18.II - Calculate the assessed value and the property tax...Ch. 18.II - Calculate the assessed value and the property tax...Ch. 18.II - Calculate the assessed value and the property tax...Ch. 18.II - Calculate the assessed value and the property tax...Ch. 18.II - Calculate the property tax rate required to meet...Ch. 18.II - Calculate the property tax rate required to meet...Ch. 18.II - Calculate the property tax rate required to meet...Ch. 18.II - Calculate the property tax rate required to meet...Ch. 18.II - Calculate the property tax rate required to meet...Ch. 18.II - 18. Chuck Wells purchased a condominium with a...Ch. 18.II - As the tax assessor for Indian Creek County, you...Ch. 18.II - BUSINESS DECISION: EARLY PAYMENT, LATE PAYMENT
20....Ch. 18.III - Nick Bontempo is single, claiming two exemptions....Ch. 18.III - Julie Goodwin and her husband, Doug, had taxable...Ch. 18.III - Mike Straus had taxable income of $123,545 last...Ch. 18.III - Kenya Dawson had a tax liability of $14,600 last...Ch. 18.III - The Trough Restaurant had taxable income of...Ch. 18.III - As a tax return preparer for The Fernando...Ch. 18.III - As a tax return preparer for The Fernando...Ch. 18.III - As a tax return preparer for The Fernando...Ch. 18.III - As a tax return preparer for The Fernando...Ch. 18.III - As a tax return preparer for The Fernando...Ch. 18.III - As a tax return preparer for The Fernando...Ch. 18.III - As a tax return preparer for The Fernando...Ch. 18.III - As a tax return preparer for The Fernando...Ch. 18.III - 9. Nancy Sullivan sells wholesale school supplies...Ch. 18.III - Use the Tax Table, Exhibit 18-3, to calculate the...Ch. 18.III - Use the Tax Table, Exhibit 18-3, to calculate the...Ch. 18.III - Use the Tax Table, Exhibit 18-3, to calculate the...Ch. 18.III - Use the Tax Table, Exhibit 18-3, to calculate the...Ch. 18.III - Use the Tax Table, Exhibit 18-3, to calculate the...Ch. 18.III - Prob. 15RECh. 18.III - Prob. 16RECh. 18.III - Prob. 17RECh. 18.III - Prob. 18RECh. 18.III - Prob. 19RECh. 18.III - Prob. 20RECh. 18.III - Prob. 21RECh. 18.III - Prob. 22RECh. 18.III - Prob. 23RECh. 18.III - Prob. 24RECh. 18.III - Buck and Meghan Calder had combined income of...Ch. 18.III - Calculate the amount of corporate income tax due...Ch. 18.III - Calculate the amount of corporate income tax due...Ch. 18.III - Calculate the amount of corporate income tax due...Ch. 18.III - Calculate the amount of corporate income tax due...Ch. 18.III - Prob. 30RECh. 18 - 1. A tax based on the retail selling or rental...Ch. 18 - Sales tax expressed in its most common form, as a...Ch. 18 - 3. Write the formula for calculating the selling...Ch. 18 - Prob. 4CRCh. 18 - Another name for property tax is ____ _____ tax....Ch. 18 - Prob. 6CRCh. 18 - Prob. 7CRCh. 18 - 8. As the tax assessor for your city, what formula...Ch. 18 - Prob. 9CRCh. 18 - Prob. 10CRCh. 18 - Prob. 11CRCh. 18 - Prob. 12CRCh. 18 - Prob. 13CRCh. 18 - Prob. 14CRCh. 18 - Use Exhibit 18-1 to determine the sales tax and...Ch. 18 - Use Exhibit 18-1 to determine the sales tax and...Ch. 18 - Calculate the missing information for the...Ch. 18 - Calculate the missing information for the...Ch. 18 - Calculate the missing information for the...Ch. 18 - Calculate the missing information for the...Ch. 18 - 7. Tim Meekma purchased a microwave oven for...Ch. 18 - 8. Yesterday Estate Jewelers had total sales,...Ch. 18 - 9. For its fleet of trucks, Overland Transport,...Ch. 18 - Calculate the assessed value and the property tax...Ch. 18 - Calculate the assessed value and the property tax...Ch. 18 -
Calculate the assessed value and the property tax...Ch. 18 - Calculate the assessed value and the property tax...Ch. 18 - Calculate the property tax rate required to meet...Ch. 18 - Calculate the property tax rate required to meet...Ch. 18 - 16. The Young family is considering the purchase...Ch. 18 - 17. As the lax assessor for Barclay County, you...Ch. 18 - Calculate the missing Information for the...Ch. 18 - Calculate the missing Information for the...Ch. 18 - Calculate the missing Information for the...Ch. 18 - As an accountant for the Give Me A Break Tax...Ch. 18 - As an accountant for the Give Me A Break Tax...Ch. 18 - As an accountant for the Give Me A Break Tax...Ch. 18 - As an accountant for the Give Me A Break Tax...Ch. 18 - As an accountant for the Give Me A Break Tax...Ch. 18 - As an accountant for the Give Me A Break Tax...Ch. 18 - Calculate the amount of tax refund or tax owed for...Ch. 18 - Calculate the amount of tax refund or tax owed for...Ch. 18 - Bob Paris is the promotions director for Power...Ch. 18 - 30. You are the lax consultant for Fidelity...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.Similar questions
- Your family has annual loan payments equal to 28 of its annual income. During theyear, the loan payments total $17,920 . What is your family’s annual income?arrow_forwardYou accept a job with an annual income of $58,400 . This includes your salary and a $1200 year-end bonus. You are paid weekly. What is your salary per pay period?arrow_forwardDetermine how much the following individual will save in taxes with the specified tax credits or deductions. Rosa is in the 15% tax bracket and claims the standard deduction. How much will her tax bill be reduced if she makes a $300 contribution to charity? ..... Her tax bill will be reduced by $ (Simplify your answer.)arrow_forward
- Calculate the Social Security and Medicare deductions for the following employee (assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare): (Round your answers to the nearest cent.) Employee Cumulative earnings before this pay period Pay amount this period Social Security Medicare Logan $128,300 $3,000 Social Security _________ ? Medicare _____________ ?arrow_forwardFind the amount received by the sellers of the stock (at the day's closing prices). Deduct sales expenses using Firm Upper CC. Stock Symbol Number of Shares Transaction Type MGNMGN 900900 Automated (Phone) Click to view Broker Commissions Table Click to view Stock Table Click to view SEC fees The amount received for the sale is $enter your response here. (Simplify your answer.)arrow_forwardyou are paid 16.50/hr. you work 40 hr/week and 4 weeks/month. Your deductions are FICA (7.65%) and Federal Tax withholding (10%). The following table shows your monthly expenses. what is your gross income per month Rent (monthly) $657.00 Telephone (monthly) $56.34 Groceries (weekly) $56.00 Clothing (monthly with 1/2 job related $106.00 Water & Electric (monthly) 98.87 Dinner & Movie $40.00 (weekly)arrow_forward
- you are paid 16.50/hr. you work 40 hr/week and 4 weeks/month. Your deductions are FICA (7.65%) and Federal Tax withholding (10%). The following table shows your monthly expenses. What is the total amount for the FICA and Federal Tax withholdings? Rent (monthly) $657.00 Telephone (monthly) $56.34 Groceries (weekly) $56.00 Clothing (monthly with 1/2 job related $106.00 Water & Electric (monthly) 98.87 Dinner & Movie $40.00 (weekly)arrow_forwardYou have some property which has an assessed value of $260,500. If the tax rate is 65.30 mills , calculate the tax due ( in $)arrow_forwardPlease solbe part B and C Thank you.arrow_forward
- Martin took his dog to the vet for a regular check up. While he was there is was given special vitamins for his dog which costs $28, and bought food for $11.99 and a special flea collar for $4.99. The vet charged him $135 for the visit. Below is a table from the PA state sales' tax code for 2018. On the table "T" means the item is taxable at 6%, and "NT" means the item is not taxable. How mnuch tax did the vet charge Martin for this visit and purchase? 20 PETS NT Boarding, sitting or walking T- Clippers and clipper lubricants T- Equipment (collars, leashes, etc.) T- Farrier services for pet horses NT Flea collars, flea powder, flea and tick soap and tick sprays T- Food, including food supplements and prescription food T- Grooming, unless performed by a veterinarian for the purpose of or incidental to medical treatment NT - Medicines and medical supplies T- Pet caskets and u NT Pet cremation and burial services T- Sale or rental of pets, or adoption from shelters, which indudes fees for…arrow_forwardRachael has a job assembling a certain car accessory. Last month she made a total of 424 items. Calculate her gross pay (in $) if she is paid on the following differential piecework schedule. Pay Level Items produced Rate per Item 1 1–160 $9.58 2 Over 160 $11.41 $arrow_forwardSolve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit, for Medicare tax. Calculate the monthly Social Security and Medicare withholdings (in $) for the employee as the payroll manager for a cargo and freight company. (Round your answers to the nearest cent.) Employee Andretti, K. Year-to-Date Earnings $144,000 Current Month $13,850 Social Security S Medicarearrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Elementary AlgebraAlgebraISBN:9780998625713Author:Lynn Marecek, MaryAnne Anthony-SmithPublisher:OpenStax - Rice University
Elementary Algebra
Algebra
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:OpenStax - Rice University
Use of ALGEBRA in REAL LIFE; Author: Fast and Easy Maths !;https://www.youtube.com/watch?v=9_PbWFpvkDc;License: Standard YouTube License, CC-BY
Compound Interest Formula Explained, Investment, Monthly & Continuously, Word Problems, Algebra; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=P182Abv3fOk;License: Standard YouTube License, CC-BY
Applications of Algebra (Digit, Age, Work, Clock, Mixture and Rate Problems); Author: EngineerProf PH;https://www.youtube.com/watch?v=Y8aJ_wYCS2g;License: Standard YouTube License, CC-BY