Answer:
Answer:
a. 24%
b. 12%
Explanation:
Marginal tax rate is an incremental tax rate that is paid out of the taxable income of a tax payer. It represents the rate at which the last unit of dollar of the taxable income is taxed. The marginal rate for each income bracket is supplied by the Internal Revenue Service (IRS).
Chuck Marginal Tax Rate
a) The marginal tax rate for Chuck if he earns additional $40,000 taxable income will be:
= $75,000 + $40,000
= $115,000
Marginal tax rate for $115,000 is 24% according IRS tax rate schedule.
b) If instead, it is an additional deduction of $40,0000, the marginal tax rate will be:
= $75,000 - $40,000
= $35,000
The marginal tax rate for taxable income of $35,000 is 12% according US tax rate schedule.
Note: the interest is categorized as interest from municipal bond, so it is tax free.
It is also assumed that Chuck is single. Hence, tax rate under single filer applies to him.
Explanation:
Outside providers who perform janitorial, advertising, legal, management consulting, marketing research, and maintenance, are examples of
Answer:
Business services.
Explanation:
Business services can be defined as a collection of activities that supports the growth and development of a business, as well as the delivery of finished goods and services that meet the needs or requirements of consumers.
This ultimately implies that, outside providers who perform janitorial, advertising, legal, management consulting, marketing research, and maintenance, are examples of business services.
Hence, business services are not saddled with the responsibility of producing or manufacturing of the finished goods and services required by consumers.
The following data is available for Santos Service Corporation at December 31, 2017: Common stock, par $10 (authorized 100,000 shares) $400,000 Treasury Stock (at cost $15 per share) $ 27,000 Based on the data, how many shares of common stock are outstanding
Answer:
the number of shares of common stock outsanding is 38,200 shares
Explanation:
The computation of the number of shares of common stock outsanding is as follows:
= Common shares - treasury stock
= ($400,000 ÷ $10) - ($27,000 ÷ $15)
= 40,000 shares - 1,800 shares
= 38,200 shares
hence, the number of shares of common stock outsanding is 38,200 shares
The total no. of outstanding stock for the Santos Sales Corporation is 38200 shares which is calculated by simply applying values to the formula in the equation.
Share is defined as a share in the share capital authorized by the company and shares also include stocks. The distinction between shares and stocks is implied expressively in the share capital of the company which issues such shares.
The stock outstanding in the share capital of Santos Service Corporation as on 31st December 2017 will be calculated using the formula of Total shares outstanding as given below.[tex]Total\ shares\ outstanding = Issued\ stock- Treasury\ stock[/tex]
To calculate the no. of shares we can calculate them as for treasury stock there are shares worth $27000 and cost of each stock is $15.[tex]Treasury\ stock = \frac{27000}{15} = 1800\ shares[/tex]
And the issued share capital is $400000 at a face value of $10 each[tex]Issued\ capital=\frac{400000}{10} = 40000[/tex]
Now putting the obtained values in the formula, we get[tex]Total\ shares\ outstanding =40000-1800[/tex]
So, the value obtained is as 38200 shares outstanding.Hence, there are 38200 common stock outstanding at the end of Santos Service Corporation.
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The following table contains statements that provide some analysis of policies that address the minimum wage. Categorize each of these statements as either positive or normative.
Statement Positive Normative
All Americans should earn more than $25,000 per year.
Raising the minimum wage increases the rate of unemployment.
The minimum wage should be raised to $15 per hour.
Raising the minimum wage reduces the number of employment
opportunities for low skilled workers.
Answer and Explanation:
The classification is as follows:
a. It is a normative statement as it discussed that there is an efficient wages for all types of workers for earnings
b. It is a positive statement that depend upon the facts and proofs as the leisure for workers would create more unemployment as compared to before
c. It is a normative statement
d. It is a positive statement as the workers who are less skilled they can be settled for the minimum wages as they dont get the highest paying jobs because these jobs would be belong to those workers who are highly skilled
What are the advantages and disadvantages for companies maintaining an internal marketing research department? What advantages and disadvantages can be attributed to the hiring of an external marketing research supplier?
Answer:
Explanation:
There is a need for market research for companies, so that the company can be uttered in the right direction
At the beginning of a recent year, JetBlue's assets were $5,598 million and its equity was $1,036 million. During the year, assets increased $486 million and liabilities increased $241 million. What was JetBlue's equity at the end of the year
Answer:
$1,281 million
Explanation:
The computation of the equity at the end of the year is given below:
As we know that
Total assets = Total liabilities + stockholder equity
So for the beginning, the total liabilities is
= $5,598 million - $1,036 million
= $4,562 million
Now the ending stockholder equity is
= ($5,598 millon + $486 million) - ($4,562 million + $241 million)
= $6,084 million - $4,083 million
= $1,281 million
During a severe recession Congress passes legislation to cut taxes, this would be an example of a(n): g
Answer:
expansionary fiscal policy.
Explanation:
Fiscal policy in economics refers to the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as Aggregate Demand (AD), inflation, and employment within a country. Fiscal policy is in relation to the Keynesian macroeconomic theory by John Maynard Keynes.
A fiscal policy affects combined demand through changes in government policies, spending and taxation which eventually impacts employment and standard of living plus consumer spending and investment.
Basically, an expansionary fiscal policy will cause the total increase in aggregate demand to be greater than the initial increase in aggregate demand due to the multiplier process.
Hence, if during a severe recession, Congress passes legislation to cut taxes, this would be an example of an expansionary fiscal policy.
According to the Keynesian theory, government spending or expenditures should be increased and taxes should be lowered when faced with a recession, in order to create employment and boost the buying power of consumers.
or a market to exist: Multiple Choice government must guarantee equal treatment for all. individuals must be concerned with the social good. everyone must have identical wants and desires. private property rights must be allocated and defended by government.
Answer:
D. private property rights must be allocated and defended by government.
Explanation:
A property right is the exclusive or sole authority which determines the legal ownership of resources and how these resources are to be used, whether by individuals or government.
Also, a competitive market is a type of market that comprises of numerous producers who compete with each other so as to satisfy or meet the material needs and wants of consumers at a specific period of time.
Hence, for a market to exist, private property rights must be allocated and defended by government.
This ultimately implies that, when the ownership of resources are well defined and markets are competitive, all benefits from trade between the consumers and producers of goods and services has been maximized, and each units creating more benefit to the consumers than cost have been produced in the economy.
You paid $35 for a ticket (which is non-refundable) to see SPAM, a local rock band, in concert on Saturday. Assume that $35 is the most you would have been willing to pay for a ticket. Your boss called, and she is looking for someone to cover a shift on Saturday at the same time as the concert. You would have to work 4 hours and she would pay you $11/hr. The psychic cost to you of working is $2/hr. What is your opportunity cost of going to work on Saturday
Answer:
the opportunity cost of going to work on saturday is $32
Explanation:
The opportunity cost of going to work on saturday is as follows:
= Income earned on saturday - psychic cost
= 4 hours × $11 - ($2 × 4 hours)
= $44 - $8
= $32
hence, the opportunity cost of going to work on saturday is $32
Which organization developed and published the first curriculum that served as the guideline for EMT training?
Department of Transportation (DOT)
Department of Health and Human Services (DHHS)
National Academy of Sciences
Occupational Safety and Heath Administration (OSHA)
Answer:
Department of Transportation (DOT)
Explanation:
Department of Transportation can be regarded as one department in the government of U.S that are in charge of transportation. It started operation in 1967. It should be noted that the Department of Transportation (DOT) developed and published the first curriculum that served as the guideline for EMT training?
g Arshadi Corp.'s sales last year were $27,000, and its total assets were $22,000. What was its total assets turnover ratio (TATO)
Answer:
0.81
Explanation:
Total assets ratio is computed as
= Total assets / Total sales
Given that;
Total assets = $22,000
Total sales = $27,000
Total assets ratio
= $22,000 / $27,000
= 0.81
Julie Powers collects overdue accounts for a large credit card company. She has access to records of all transactions for any customer. Julie sometimes looks up the records of famous people. She checks to see where they use their credit cards and how much money they spend. She sometimes tells her friends about the buying habits of entertainers and politicians.1. Is the action illegal?2. Does the action violate company or professional standards?3. Who is affected, and how, by the action?
Answer:
1. the action is illegal
2. it violates these standards
3. the credit card company and the credit card users are affected
Explanation:
1.
julie's actions are illegal because she is Sharing confidential and personal information with her friends.
2.
she is violation both business and professional standards by sharing these informations as this is against work and professional ethics
3.
those affected are the credit card company and the credit card owners. because she has given out the personal informations of these people as related to their credit card transactions. the credit card company may be in trouble if these people should decide to take legal action.
Conduct your own social engineering experiments. 1) While at a restaurant, convenience store, bank, place of business, or any shopping location, ask you waiter or waitress, bartender, server, sales clerk, or cashier personal questions about their family or their interests.How much information are you able to obtain about this person you do not know
Explanation:
Note, in the ICT field, the term social engineering refers to actions that involve the use of cunning to steal sensitive or unauthorized information from someone by means of social or human interactions with them.
For example, such information could be manipulatively gotten;
address,age,Social security number,the number of children, etc.Arnold Industries has pretax accounting income of $62 million for the year ended December 31, 2018. The tax rate is 40%. The only difference between accounting income and taxable income relates to an operating lease in which Arnold is the lessee. The inception of the lease was December 28, 2018. An $12 million advance rent payment at the inception of the lease is tax-deductible in 2018 but, for financial reporting purposes, represents prepaid rent expense to be recognized equally over the four-year lease term.Required:1. Complete the following table given below and prepare the appropriate journal entry to record Arnold’s income taxes for 2018.
($ in millions) Tax Rate % Tax $ Recorded as:Pretax accounting income $40.0 Rent costs reversing in: 2019 x = 2020 x = 2021 x = 2022 x = Total deferred tax amount Income taxable in current year 2. Prepare the appropriate journal entry to record Arnold’s income taxes for 2019. Pretax accounting income was $49 million for the year ended December 31, 2019.3. Assume a new tax law is enacted in 2019 that causes the tax rate to change from 40% to 30% beginning in 2020. Complete the following table given below and prepare the appropriate journal entry to record Arnold’s income taxes for 2019.
Answer:
Required 1
($'millions) Tax Rate(%) Tax($) Recorded as :
Pretax Accounting Income $62
Rent costs reversing in:
2019 $3 * 40% = $1.2
2020 $3 * 40%= $1.2
2021 $3 * 40%= $1.2
2022 $3 * 40%= $1.2
Tax Deferred Tax Amount $4.8 (Deferred tax liability)
Income Taxable in current year $ 50 * 40%= $20 (Income tax payable) ($62 -($3 *4 Years))
Year General Journal Debit Credit
2018 Income Tax Expense (20+4.8) $24.8
Deferred Tax Liability $4.8
Income tax payable $20
(To record Arnold income taxes for 2018)
Required 2
Year General Journal Debit Credit
2019 Income Tax Expense ($49*40%) $19.6
Deferred tax liability ($3*40%) $1.2
Income tax payable (19.6+1.2) $20.8
(To record Arnold income taxes for 2019)
Daniel Co. has 500 employees who work 8-hour days and are paid hourly. On January 1, 2020, Daniel started granting its employees 20 days of PTO each year. PTO days earned in 2020 may first be taken on January 1, 2021. Information relative to these employees is as follows:
Year Hourly Wages Vacation Days Earned by Each Employee Vacation Days Used by Each Employee
2020 $25 20 0
2021 $30 20 15
2022 $35 20 20
ABC has accrued the liability for compensated absences at the current rates of pay in effect when the compensated time is earned. What is the amount of expense related to compensated absences that should be reported on Crane's income statement for 2020?
Answer:
The amount of expense for compensated absence to report in income statement for 2020 is $2,000,000.
Explanation:
This can be calculated using the following formula:
Amount to report in income statement for 2020 = Number of employees * Hourly wages in 2020 * Number of hours worked daily * Vacation Days Earned by Each Employee .......................... (1)
Where;
Number of employees = 500
Hourly wages in 2020 = $25
Number of hours worked daily = 8
Vacation Days Earned by Each Employee = 20
Substituting the values into equation (1) we have:
Amount to report in income statement for 2020 = 500 * $25 * 8 * 20
Amount to report in income statement for 2020 = $2,000,000
Therefore, the amount of expense for compensated absence to report in income statement for 2020 is $2,000,000.
Most people who start small businesses are aware of the high failure rate and the reasons for it. Why, then, do some take no steps to protect their firms from failure
Answer:
When someone starts their own business, they do it because they firmly believe that they will succeed. Most of the time they are not thinking about what will happen if things do not work as planned. I believe that people that are afraid and believe that the possibility of failure is large, will never start their own business. Entrepreneurship is something that not everyone can do, and it takes a lot of guts to do it.
Suppose you get for free one of following two securities: (a) an annuity that pays $10,000 at the end of each of the next 6 years; or (b) a perpetuity that pays $10,000 forever, but payments do not begin until 10 years from now (the first cash payment from this security is 11 years from today). Which security would you choose if the annual interest rate is 5%? Does your answer change if the interest rate is 10%? Explain why or why not.
Answer:
if the interest rate is 5%, I would choose security (b), but if the interest is 10%, then security (a) is a better option
Explanation:
security a:
the present value (5%) = $10,000 x 7.7217 (PV annuity factor, 5%, 10 years) = $77,217
the present value (10%) = $10,000 x 6.1446 (PV annuity factor, 10%, 10 years) = $61,446
security b:
terminal value in 10 years, 5% = $10,000 / 5% = $200,000
present value = $200,000 / 1.05¹⁰ = $122,782.65
terminal value in 10 years, 10% = $10,000 / 10% = $100,000
present value = $100,000 / 1.1¹⁰ = $38,554.33
A new assembly line robot with a price tag of $2.5 million is expected to depreciate by 3% at the end of next year. The real interest rate is 2.5%. The user cost of of the robot for one year is $137,500. What is the user cost of the robot for one year?
Answer:
$137,500
Explanation:
Calculation for the user cost of the robot for one year
User cost=(3%*$2,500,000)+(2.5%*$2,500,000)
User cost=$75,000+$62,500
User cost=$137,500
Therefore The user cost of of the robot for one year is $137,500
Which of these is the most effective way to learn a new topic?
Watching a lecture about the topic
Doing practice questions about the topic
Reading a textbook chapter about the topic
The most effective way for learning a new topic is to read the chapter of the textbook related to the topic.
The information related to the new topic of learning is as follows:
For learning a new topic, first, read the chapter of the textbook.After reading the new topic by ourselves that watch the lecture so that it helps to create the notes.And, the last one is doing practice questions so that perfection and concept-wise could be made.Therefore we can conclude that The most effective way for learning a new topic is to read the chapter of the textbook related to the topic.
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Tablets and smartphones are not considered computers.
A.
True
B.
False
Answer:
B) False
Explanation:
The device your using is considered a computer, your phone s also a computer. A computer’s definition is a machine that carry’s out tasks and a smartphone or a tablet carries out tasks, you type in the letter “a” thts a task for the computer
Tablets and smartphones are not considered computers. The given statement is true. Indeed, computers are considered to include smartphones and tablets. In reality, a computer is any apparatus that receives input from a user, processes that input into calculations, and then outputs the results to the user.
What is considered a computer?
An information processing and storing device is a computer. To perform tasks like data storage, algorithm computation, and information display, the majority of computers rely on a binary system, which uses the two variables 0 and 1.
Having a touchscreen interface, a tablet is a wireless, mobile personal computer. A typical tablet has a larger form factor than a smartphone but is smaller than a notebook computer. Alan Kay of Xerox, who drew up the concept in 1971, is generally credited with the invention of tablet computing.
An actual handheld computer is what a mobile device is. The term "mobile device" implies wireless communications and general computing capabilities, despite the fact that it may seem to apply to any electronic device that is small enough to be carried around.
Thus, the mentioned above statement is true.
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A machine can be purchased for $150,000 and used for five years, yielding the following net incomes. In projecting net incomes, double-declining depreciation is applied using a five-year life and a zero salvage value.
Year 1 Year 2 Year 3 Year 4 Year 5
Net income $10,000 $25,000 $50,000 $37,500 $100,000
Required:
Compute the machine's payback period.
Answer:
payback period = 4.275 years
Explanation:
year cash flow balance
0 -150,000 -150,000
1 10,000 -140,000
2 25,000 -115,000
3 50,000 -65,000
4 37,500 -27,500
5 100,000 72,500
payback period is between the fourth and fifth year:
27,500 / 100,000 = 0.275
payback period = 4.275 years
g Mr. Brown wants to buy a Tesla Model S car, whose price is $100, 848. The dealer offers a loan plan: $30, 000 downpayment, $X at the end of year 1, year 2, year 3, and year 4. Assume the constant annual interest rate is 25%. (a) What is X
Answer:
$30,000
Explanation:
the present value of the loan = $100,848 - $30,000 = $70,848
we can use the present value annuity formula:
PV = annual payment x PV annuity factor
annual payment = PV / PV annuity factor
PV = $70,848
PV annuity factor, 25%, 4 periods = 2.3616
annual payment = $70,848 / 2.3616 = $30,000
If the variable costs for a firm are $57, the fixed costs are $143, and the firm sells 40 units, what are the firm's average total costs
Answer:
$5
Explanation:
Average total cost = total costs / total output
Total costs = variable costs + fixed costs
So we plug the amounts into the formula:
Average total cost = 57 + 143 / 40
= 5
So the average total cost for this ferm (per unit of output) is $5
The dollar-euro exchange rate is $1.25 = €1.00 and the dollar-yen exchange rate is ¥100 = $1.00. What is the euro-yen cross rate? Group of answer choices ¥1.00 = €0.80 ¥125 = €1.00 None of the above ¥1.00 = €125
Answer:
¥1.00 = €0.80
Explanation:
HELP HELP HELP 10 POINTS HURRY ASP AHHH
a. Pretzelmania, Inc., issues 7%, 10-year bonds with a face amount of $70,000 for $70,000 on January 1, 2015. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid semiannually on June 30 and December 31.
b. Pretzelmania, Inc., issues 7%, 15-year bonds with a face amount of $70,000 for $63,948 on January 1, 2015. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31.
c. Pretzelmania, Inc., issues 7%, 15-year bonds with a face amount of $70,000 for $76,860 on January 1, 2015. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually on June 30 and December 31.
Required:
Record the bond issue and first interest payment on June 30, 2015.
Answer:
a. Pretzelmania, Inc., issues 7%, 10-year bonds with a face amount of $70,000 for $70,000 on January 1, 2015. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid semiannually on June 30 and December 31.
January 1, 2015, bonds issued at par value
Dr Cash 70,000
Cr Bonds payable 70,000
June 30, 2015 first coupon payment
Dr Interest expense 2,450
Cr Cash 2,450
b. Pretzelmania, Inc., issues 7%, 15-year bonds with a face amount of $70,000 for $63,948 on January 1, 2015. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31.
January 1, 2015, bonds issued at a discount
Dr Cash 63,948
Dr Discount on bonds payable 6,052
Cr Bonds payable 70,000
amortization of bond discount per coupon payment = $6,052 / 30 = $201.73
June 30, 2015 first coupon payment
Dr Interest expense 2,651
Cr Cash 2,450
Cr Discount on bonds payable 201
c. Pretzelmania, Inc., issues 7%, 15-year bonds with a face amount of $70,000 for $76,860 on January 1, 2015. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually on June 30 and December 31.
January 1, 2015, bonds issued at a premium
Dr Cash 76,860
Cr Bonds payable 70,000
Cr Premium on bonds payable 6,860
amortization of bond premium per coupon payment = $6,860 / 30 = $228.67
June 30, 2015 first coupon payment
Dr Interest expense 2,221
Dr Premium on bonds payable 229
Cr Cash 2,450
Jamie lee received an offer to transfer the balance of all of her store credit cardsto her bank credit card in the mail. It offered zero percent finance charges/interestfor the first three months (90 days), and an 18.5 percent interest rate thereafter until the balance is paid in full. Upon reading the fine print, she saw there was a $50 transaction fee and interest accrued from he day the balance transfer was made if the balance was not paid in full within the first 90 days.
Required:
a. How could Jamie Lee use this balance transfer offer to her advantage?
b. How is this offer a major disadvantage to Jamie Lee?
Answer and Explanation:
As in the given situation, Jamie lee have a benefit from the transfer in the case when the interest on the store credit card would be higher than the $50 for the first 90 days
1. If we assume that the date of the payment is one month but she does not have the money to make the payment so she can transfer the balance to the credit card so that she get 2 more months to make the payment
2. This could become the disadvantage when the payment is not done within the 90 days as she have to pay the interest of 18.5% on the tital amount also the transaction fee would also be paid
Omaha LLC had the following inventory amounts: 9/30/2020 12/31/2020 Raw materials 3376 3576 WIP 4568 4372 Finished goods 3535 pDuring Q4 2020, the company purchased $7234 of raw materials. In addition, the firm incurred the following costs during the quarter: direct labor of $3650, variable manufacturing overhead of $2532, fixed manufacturing overhead of $3001, variable non-manufacturing overhead of $4077, and fixed non-manufacturing overhead of $5402. Cost of goods sold in Q4 was 15317. Omaha uses full absorption costing. How much raw materials did Omaha transfer to WIP in Q4 2020?
Answer: b
Explanation:
A company is considering an investment that will return $30,000 semiannually at the end of each semiannual period for 4 years. If the company requires an annual return of 10%, what is the maximum amount it is willing to pay for this investment
Answer: $193,896.38
Explanation:
The maximum value that the company will pay is one that equals the present value of the cashflows of this project because anything higher will lead to losses.
The maximum value is therefore the present value of the cashflow here.
Annual rate to periodic rate = 10%/2 = 5%
No. of periods = 4 * 2 = 8 semi annual periods
Payment is fixed so is an annuity.
Present value of annuity = Annuity * ( 1 - (1 + rate) ^ -n) / rate
= 30,000 * (1 - ( 1 + 5%)⁸) / 5%
= $193,896.38
The company should not pay anything more than this amount because that would lead to a loss.
On January 1, 2021, an investor paid $294,000 for bonds with a face amount of $314,000. The contract rate of interest is 11% while the current market rate of interest is 14%. Using the effective interest method, how much interest income is recognized by the investor in 2022 (assume annual interest payments and amortization)
Answer:
$41,160
Explanation:
Calculation for how much interest income is recognized by the investor in 2022
Using this formula
Interest income = Amount paid* Market rate of interest
Let plug in the formula
Interest income = $294,000*14%
Interest income= $41,160
Therefore how much interest income is recognized by the investor in 2022 will be $41,160
Read the methodology of Interbrand for brand valuations. How might you improve their methods and the sorts of measures they use to assess brand equity
Answer:
The interpretation of the discussion is characterized throughout the explanation segment below.
Explanation:
I acknowledge that perhaps the method of Inter Product seems to be powerful but instead accurate. It would have seemed that individuals take into account the registered proprietor to the implementation including its brand products, this same involvement of the company throughout the acquisition of preference as well as the strength of the product. Perceived value seems to be impossible to determine throughout the recognition of how to purchase intention can vary significantly dramatically.That frequency is being used to dismiss advertising money directly to incorporate value, reflecting the brand's likelihood of encountering difficulties. In terms of improving their methodologies, I will also have to maintain the integrity including its product would have been a small amount of about their overall valuation, even though there's a ton of objective reality here.