Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. quesrion 1 johnny sack has assessable income of $8

QUESRION 1 Johnny Sack has assessable income of $80,000 in the 2020/21 financial year. He...

60.1K

Verified Solution

Question

Accounting

QUESRION 1

Johnny Sack has assessable income of $80,000 in the 2020/21 financial year. He has $4,000 worth of deductions he can claim. By how much will the $4,000 worth of deductions reduce Johnnys nominal tax payable?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

How does the war on terror change the way as Americans look at Domestic and National...

Psychology
Q

Your Chief executive has asked you to prepare a report for the board identifying the key...

General Management
Q

5 Find the area of the 30 60 90 right AABC with AB 8 cm...

Geometry
Q

I controlled thousands of city jobs in the police fire department and sanitation department and...

Basic Math
Q

Jenny buys a dining table costing $795.95. The store charges $55 for delivery. State taxes...

Basic Math
Q

What is the main difference between auditing and accounting. What is the difference between an...

Accounting
Q

FX Services reported the following as of December 31, 2022: Cash dividends payable $ 29,000...

Accounting
Q

The Elberta Fruit Farm of Ontario has always hired transient workers to pick its annual...

Accounting
Q

how did the Erie Canal illustrate the role of government, innovative technology, and entrepreneurship in...

Accounting
Q

Viki's Flower Shoppe Congratulations! You have been hired as the new pricing manager for the...

Accounting
Q

An investor buys 1,000 shares of AAPL at $61/ share and sells a put with...

Finance
Q

Skyline Music is considering investing $775,000 in private lesson studios that will have no residual...

Accounting