2023 TAXABLE INCOME FIRST $53,359 OVER $53,359 TO $106,717 OVER $106,717 TO $165,430 OVER $ $165,430 TO $237,675 OVER $235,675 FILL IN THE BLANK TAX RATE 15.00% 20.50% 26.00% 29.32% 33.00% C) The total income tax burden if your salary is $85,000. type your text here Based on the Canadian Federal Income Tax Brackets for 2023 shown above, calculate and input the numeric answers to the questions below. Round off your answers to the nearest dollar. Do not use $, decimals or comma. For example, instead of $23,486.52, write 23487. For answers requiring a tax rate, enter only the numeric value with two decimal places, with "%" symbol. For example, 20.50%).
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- 2023 TAXABLE INCOME FIRST $53,359 OVER $53,359 TO $106,717 OVER $106,717 TO $165,430 OVER $ $165,430 TO $237,675 OVER $235,675 Budget & Fiscal Policy FILL IN THE BLANK TAX RATE 15.00% 20.50% 26.00% 29.32% 33.00% A) The marginal rate of tax for someone making a salary of $52,000. type your text here Based on the Canadian Federal Income Tax Brackets for 2023 shown above, calculate and input the numeric answers to the questions below. Round off your answers to the nearest dollar. Do not use $, decimals or comma. For example, instead of $23,486.52, write 23487. For answers requiring a tax rate, enter only the numeric value with two decimal places, with "%" symbol. For example, 20.50%).2023 TAXABLE INCOME FIRST $53,359 OVER $53,359 TO $106,717 OVER $106,717 TO $165,430 OVER $ $165,430 TO $237,675 OVER $235,675 FILL IN THE BLANK TAX RATE 15.00% 20.50% 26.00% 29.32% 33.00% B) The new marginal rate of tax for someone making a salary of $100,000 and gets an $8,000 salary increase. type your text here Based on the Canadian Federal Income Tax Brackets for 2023 shown above, calculate and input the numeric answers to the questions below. Round off your answers to the nearest dollar. Do not use $, decimals or comma. For example, instead of $23,486.52, write 23487. For answers requiring a tax rate, enter only the numeric value with two decimal places, with "%" symbol. For example, 20.50%).2023 TAXABLE INCOME FIRST $53,359 OVER $53,359 TO $106,717 OVER $106,717 TO $165,430 OVER $ $165,430 TO $237,675 OVER $235,675 ernment Budget Fiscal Policy FILL IN THE BLANK UNIT TAX RATE 15.00% 20.50% 26.00% 29.32% 33.00% D) The average tax rate for someone making $120,000. type your text here Based on the Canadian Federal Income Tax Brackets for 2023 shown above, calculate and input the numeric answers to the questions below. Round off your answers to the nearest dollar. Do not use $, decimals or comma. For example, instead of $23,486.52, write 23487. For answers requiring a tax rate, enter only the numeric value with two decimal places, with "%" symbol. For example, 20.50%).
- The tax rates are as shown below: Taxable Income Tax Rate $0 - 50,000 50,001 - 75,000 75,001 100,000 100,001 - 335,000 The taxable income is $80,500. How much additional tax will you owe if you increase your taxable income by $21,700? 15% 25% 34% 39%Compute the income tax due in 2021. A. 50,000B. 800,000C. 290,000D. 400,000Amount in excess of P490,000.00 taxable income is to be multiplied to_______to compute for the graduated tax due a. 30% b. 32% c. 35%
- Use the table to the right to calculate the federal income tax due for a taxable income of $87,000 The income tax due is $ (Type an integer or a decimal) If your taxable income is Over- But not Over- 50 $9,275 $9,275 $37,650 $37,650 $91,150 $91,150 $190,150 $190,150 $413,350 $413,350 The tax is 10% $927.50+15% $5,183 75+25% $18,558.75+28% $46,278 75+33% $119.934 75+35% Save of the amount Over- $0 $9,275 $37,650 $91,150 $190,150 $413,350K Use the table to the right to calculate the federal income tax due for a taxable income of $158,000. The income tax due is $. (Type an integer or a decimal.) If your taxable income is Over- But not Over- $0 $9,275 $9,275 $37,650 $37,650 $91,150 $91,150 $190,150 $413,350 $190,150 $413,350 ******* The tax is Of the amount Over- 10% $927.50 +15% $5,183.75 +25% ********* $18,558.75+28% $46,278.75+33% $119,934.75+ 35% $0 $9,275 $37,650 $91,150 $190,150 $413,350 1 of14. Leslie Inc. has correctly determined the following information related to operations for 2018: Revenue from sales Expenses Income before income taxes P7,000,000 4,000,000 P3,000,000 In reviewing the records, you discovered the following items: During 2018, the company discovered an error in depreciation in 2017. The correction of this error, which has not been recorded, will result in an increase in depreciation for 2017 of P200,000. During 2018, the company sustained a loss of P400,000 because of flood, which destroyed its inventory. The company charged retained earnings and credited inventory for P400,000.
- Le Bron Corporation has the following information for 2021 taxable year: Quarter RCIT MCIT CWT First P200,000 P160,000 P40,000 Second 240,000 500,000 60,000 Third 500,000 150,000 80,000 Fourth 300,000 200,000 70,000 Additional information: Excess MCIT from 2020: P60,000 Excess tax credits from 2020: P20,000 1.) How much was the income tax payable for the first quarter? a. 200,000 b. 160,000 c. 120,000 d. 80,000 2.) How much was the income tax payable for the second quarter? a. 660,000 b. 460,000 c. 200,000 d. 160,000 3.) How much was the annual income tax payable? a. 1,260,000 b. 390,000 c. 230,000 d. 930,000How much is the total income tax expense recorded for the year ended December 31, 2019? a. P246,000 b. P270,000 c. P540,000 d. P786,000How much of the following is gross income subject to income tax? * a. P2,410,000 b. P2,210,000 c. P2,160,000 d. P1,710,000 e. P450,000