Answer:
The average homeowner pay $2,503.37 in property taxes
Explanation:
Population = 86,357
Median home price = $236,167
Estimated property taxes = 10.6 mills
Property Tax 1 Mills equals to 1/1000 Units . That Means Property tax Need to pay $1 For $1000 Assets able value .
Average homeowner pay in property taxes = Home Price × (Mills ÷ 1000)
= $236,167 × (10.6 ÷ 1000)
= $236,167 × 0.0106
=$2,503.37
Answer:
The correct answer is $129,360.
Explanation:
According to the scenario, the given data are as follows:
List price of equipment = $120,000
Cash discount = $2,400
sales tax = $6,000
Installation charges = $1,760
concrete slab = $4,000
So, we can calculate the total cost by using following formula:
Total cost = $120,000 - $2,400 + $6,000 +$1,760 + $4,000
= $129,360
Answer:
Date Description Dr. Cr.
Dec 31 Sales discounts $200
Allowance for sales discounts $200
Explanation:
Expected sales discounts. $10,000 × 2% = $200
As the discount is expected and according to the accrual accounting concept the expenses accrued or expected to incurred should be recorded in the period in which revenue of that expense is recorded. Discount of 2% is expected to be availed by the customer amounting sales of $10,000. and it will be availed after year end as discount period will end after year end.
