Questions by okey43 - Page 15
Gita is a single taxpayer earning $50,000 in wages this year.In addition, she received $750 in nonqualified dividends and $2,500 in capital gains from a stock she held for 10 months.Use the following tables to complete the statement.Single Taxpayers: Income BracketsTax RateIncome Bracket 10%0 to 9,52512%9,526 to 38,70022%38,701 to 82,50024%82,501 to 157,50032%157,501 to 200,00035%200,001 to 500,00037%> 500,000Single Taxpayers: Qualified Dividends and Long-Term Capital GainsTax RateIncome Bracket0%0 to 38,60015%38,601 to 425,80020%> 425,800Gita must pay $ (blank) in taxes on her investment income.
Amazon.com, Inc., headquartered in Seattle, WA, started its electronic commerce business in 1995 and expanded rapidly. The following transactions occurred during a recent year (dollars in millions):1. Issued stock for $623 cash (example). 2. Purchased equipment costing $6,320, paying $4,893 in cash and charging the rest on account. 3. Paid $5,000 in principal and $300 in interest expense on long-term debt. 4. Earned $177,866 in sales revenue; collected $123,949 in cash with the customers owing the rest on their Amazon credit card account. 5. Incurred $25,249 in shipping expenses, all on credit. 6. Paid $118,241 cash on accounts owed to suppliers. 7. Incurred $10,069 in marketing expenses; paid cash. 8. Collected $38,200 in cash from customers paying on their Amazon credit card account. 9. Borrowed $16,231 in cash as long-term debt. 10. Used inventory costing $111,934 when sold to customers. 11. Paid $830 in income tax recorded as an expense in the prior year.Required:For each of the transactions, complete the tabulation, indicating the effect (positive value for increase, negative value for decrease, and leave blank if no effect) of each transaction.