Answer:
The company paid $278,031
Explanation:
Giving the following information:
A company bought a parcel of land twenty years ago. The land is currently worth $575,000. The yearly appreciation rate has been 3.7%.
<u>To calculate the past value of the land, we need to use the following formula:</u>
PV= FV/(1+i)^n
PV= present value (20 years ago)
n= 20
FV= 575,000
i= 0.037
PV= 575,000 / (1.037^20)
PV= $278,031
Answer:
-$1,800
Explanation:
Given that
Tax liability = $1,700
Prepayment made = $1,500
Child tax credit = $2,000
The computation of tax refund is given below:-
= Tax liability - (Prepayment made + Child tax credit)
= $1,700 - ($1,500 + $2,000)
= $1700 - $3500
= -$1,800
Therefore, from the above calculation simply we subtract tax liability from prepayment and child tax credit.
<span> The </span>income statement<span> reports revenues and expenses and the resulting </span>net income