Compute the 2020 tax liability and the marginal and average tax rates for the following taxpayers. Click here to access the 2020 tax rate schedule. If required, round the tax liability to the nearest dollar. When required, round the average rates to four decimal places before converting to a percentage (i.e. .67073 would be rounded to .6707 and entered as 67.07%). a. Chandler, who files as a single taxpayer, has taxable income of $94,800.
Answer:
Tax liability:
Chandler is in 85,525 - 163,300 bracket.
Liability is:
= 14,605.50 + (24 % * (94,800 - 85,525))
= 14,605.50 + 2,226
= $16,832
Marginal Tax rate = 24%
Marginal tax rate for 85,525 - 163,300 bracket is 24%.
Average tax rate:
= Tax liability / Taxable income
= 16,832 / 94,800
= 17.76%
Based on the way SBC's brand manager describes its overall pricing strategy across various types of bikes with varying attributes for different types of riders and varying degrees to which those attributes are incorporated, SBC employs
Answer:
Customer orientation to pricing
Explanation:
Based on the description provided, SBC employs product line pricing. This strategy involves setting different prices for various types of bikes within their product line based on the attributes they offer and the target market they cater to, allowing for differentiation and catering to different customer segments. Therefore, option A is correct.
Product line pricing is a strategy that involves setting different prices for different products within a company's product line based on variations in attributes, features, or target customer segments.
It recognizes that not all products in the line are equal and that customers may have different needs, preferences, and willingness to pay.
By offering different price points for different products, companies can cater to diverse customer segments, maximize revenue, and create perceived value for each product variant, allowing customers to choose the option that best aligns with their desired features and budget.
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Your question is incomplete; more probably, your complete question is this:
Based on the way SBC's brand manager describes its overall pricing strategy across various types of bikes with varying attributes for different types of riders and varying degrees to which those attributes are incorporated, SBC employs.
Multiple Choice
A. product line pricing.
B. competitor-based pricing.
C. odd/even pricing.
D. penetration pricing.
E. high/low pricing.
The electric utility rate for a facility during the months of May through October is 4.5 cents per kilowatt-hour for energy, $11.50 per kilowatt peak demand, and a $68.00 per month meter charge. During the August billing period the facility used 96,000 kw-hrs and set a peak demand of 624 kw during the time between 4:45 P.M. and 5:00 P.M. in the afternoon on August 15. Calculate the August electric bill.
Answer: $11564
Explanation:
Total units consumed for August = 96000
There's a peak demand of 624kw
Also, the May through October is 4.5 cents per kilowatt-hour for energy.
The August electric bill will then be:
= 96000 × 4.5/100 + 624 × 11.50 + 68
= (96000 × 0.045) + (624 × 11.50) + 68
= 4320 + 7176 + 68
= 11564
Match the example with the business structure that makes sense for it. To match the items, click the example, and then click the business structure.
Match the example with the business structure that makes sense for it.
To match the items, click the example, and then click the business structure.
Doug and Vanessa want to start a carpet cleaning business together and share the ownership and profits. They are not concerned about personal liability. They want the business to be fairly simple to set up.
Sole proprietorship
Esperanza is starting a business by herself as an illustrator for magazines and children's books. She isn't concerned with personal liability, but she wants the business to be easy to set up.
S corporation or LLC
Robyn wants to turn her sole proprietorship as a tutor into a larger company with many owners and liability protection. She is willing to deal with double taxation and a complicated setup process.
C corporation
Cuba is starting an event planning company. He wants to protect his liability, and he would prefer pass-through taxation.
Partnership
Ming is starting a business with the purpose of fighting hunger in her community. She doesn't care about making a profit and is willing to reinvest any income back into her products and services.
Nonprofit corporation
Answer:
Doug and Vanessa- partnership
Esperanza- sole partnership
Robyn- c corporation
Cuba- s corporation or LLC
Ming- nonprofit corporation
I hope this helps someone!!
Nico is interested in buying a franchise from Oz Inc. For Nico to make an informed decision concerning this purchase, Oz must disclose in writing or online:a.general estimates of costs and sales, but not the basis for them.b.material facts such as the basis of projected earnings figures.c.no information.d.the money the franchisor makes from all its franchise sales.
Answer: b.material facts such as the basis of projected earnings figures.
Explanation:
A franchise simply means when a company allows another company to use it's brand and name in order to help the distribution of its products. The franchisee in this case pays a certain amount to the franchisor.
Bare on the above situation in the question, Oz must disclose in writing or online material facts such as the basis of projected earnings figures.
A trial balance has total debits of $36,000 and total credits of $48,500. Which one of the following errors would create this imbalance?
A.) A $6,250 debit to utilities expense in a journal entry was incorrectly posted to the ledger as a $6,250 credit, leaving the utilities expense account with a $7,000 debit balance.
B.) A $12,500 debit to salaries expense in a journal entry was incorrectly posted to the ledger as a $12,500 credit, leaving the salaries expense account with a $2,350 debit balance.
C.) A $6,250 credit to consulting fees earned (revenues) in a journal entry was incorrectly posted to the ledger as a $6,250 debit, leaving the consulting fees earned account with a $14,300 credit balance.
D.) A $6,250 debit posting to accounts receivable was posted mistakenly to land.
E.) A $12,500 debit posting to equipment was posted mistakenly to cash.
F.) An entry debiting cash and crediting accounts payable for $12,500 was mistakenly not posted.
Please answer which one is it. Thank you!
Answer:
$2,250 debit to Rent Expense in a journal entry is incorrectly posted to the ledger as a $2,250 credit, leaving the Rent Expense account with a $3,000 debit balance
Explanation:
Answer:
is the repondet the
F.) An entry debiting cash and crediting accounts payable for $12,500 was mistakenly not posted
Two new software projects are proposed to a young, start-up company. The Alpha project will cost $530,000 to develop and is expected to have annual net cash flow of $60,000. The Beta project will cost $170,000 to develop and is expected to have annual net cash flow of $18,000. The company is very concerned about their cash flow. Calculate the payback period for each project. Which project is better from a cash flow standpoint
Answer: See Explanation
Explanation:
The payback period for both projects would be calculated as:
Alpha Project
Cost = $530,000
Annual net cash flow = $60,000
Payback period = Cash / Annual net cash flow
= $530,000 / $60,000
= 8.83
Beta Project
Cost = $170,000
Annual net cash flow = $18,000
Payback period = Cash / Annual net cash flow
= $170,000 / $18,000
= 9.4
We can see that Alpha Project is better as the payback period is lesser than Beta project
A manufacturer has been selling 1000 flat-screen TVs a week at $350 each. A market survey indicates that for each $10 rebate offered to the buyer, the number of TVs sold will increase by 100 per week. (a) Find the demand function (price p as a function of units sold x). p(x) = Correct: Your answer is correct. (b) How large a rebate should the company offer the buyer in order to maximize its revenue? $ 125 Correct: Your answer is correct. (c) If its weekly cost function is C(x) = 61,000 + 110x, how should the manufacturer set the size of the rebate in order to maximize its profit?
Answer:
A. p(x) = (-1/10)x + 450x
B. 506,250
C. $280
Explanation:
(a) Calculation to Find the demand function
Let assume that the demand Q(p) is the LINEAR function of the price
Q(350) = 1000
dQ/dp = -100/10 = -10
Point-slope form :
Q-1000 = -10(p-350)
Q-1000 = -10p + 3500
Q= -10p+(3500+1000)
Q = -10p + 4500
Hence,
Q(p) = -10p +4500
The inverse is:
(Q-4500)/-10 = p
(-1/10)Q + 450 = p
Hence, p(x) = (-1/10)x + 450 where Q=x
Therefore the the demand function will be p(x) = (-1/10)x + 450x
(b) Calculation for How large a rebate should the company offer the buyer in order to maximize its revenue
Revenue = Price * Qauntity sold
R(p) = p*Q(p)
Revenue = p * (-10p + 4500)
Revenue= -10p^2 + 4500p
let Maximize:
0 = dR/dp = -20p + 4500
-4500 = -20p
p=-4500/-20
p = 450/2 = 225
Hence, Max. revenue
-10 (225)^2 + 4500 *225
= -506,250 + 1,012,500
= 506,250
Therefore How large a rebate should the company offer the buyer in order to maximize its revenue will be 506,250
(c) Calculation for how should the manufacturer set the size of the rebate in order to maximize its profit
Let C(x) represent cost to produce x television sets
Let C(Q(p)) represent cost to produce the demanded quantity
C(q(p)) = 61,000 + 110*Q(p)
C(q(p)) = 61,000 + 110* (-10p +4500)
C(q(p)) = 61,000 + -1,100p + 495,000
C(q(p)) = 556,000 - 1,100p
let calculate the profit using this formula
Profit = Revenue - Cost
Let plug in the formula
P(p) = -10p^2 + 4,500p - ( 556,000 - 1,100p)
P(p) = -10p^2 + 4,500p -556,000 + 1,100p
P(p) = -10p^2 + 5,600p - 556,000
Maximizing:
0=dP/dp = -20p + 5,600
Hence, maximizing profit occurs at price p=-5,600/-20 = $280
Therefore how should the manufacturer set the size of the rebate in order to maximize its profit will be $280
National Bank currently has $500 million in transaction deposits on its balance sheet. The current reserve requirement is 10 percent, but the Federal Reserve is decreasing this requirement to 8 percent. a. Show the balance sheet of the Federal Reserve and National Bank if National Bank converts all excess reserves to loans, but borrowers return only 50 percent of these funds to National Bank as transaction deposits. b. Show the balance sheet of the Federal Reserve and National Bank if National Bank converts 75 percent of its excess reserves to loans and borrowers return 60 percent of these funds to National Bank as transaction deposits.
Answer:
See all the required balance sheets below.
Explanation:
a. Show the balance sheet of the Federal Reserve and National Bank if National Bank converts all excess reserves to loans, but borrowers return only 50 percent of these funds to National Bank as transaction deposits
a(1) The Initial Balance Sheet will look as follows:
Federal Reserve Bank
Balance Sheet
Particulars Amount ($' million)
Assets
Treasury Securities (w.1) 50
Liabilities
Reserves (w.1) 50
National Bank
Balance Sheet
Particulars Amount ($' million)
Assets
Reserve deposits at Fed (w.1) 50
Loan 450
Total assets 500
Liabilities
Deposit 500
Total liabilities 500
a(2) The Balance Sheet after all the changes will look as follows:
Federal Reserve Bank
Balance Sheet
Particulars Amount ($' million)
Assets
Treasury Securities (w.5) 41.38
Liabilities
Reserve (w.5) 41.38
National Bank
Balance Sheet
Particulars Amount ($' million)
Assets
Reserve deposits at Fed (w.5) 41.38
Loan (w.6) 475.86
Total assets 517.24
Liabilities
Deposit 517.24
Total liabilities 517.24
b. Show the balance sheet of the Federal Reserve and National Bank if National Bank converts 75 percent of its excess reserves to loans and borrowers return 60 percent of these funds to National Bank as transaction deposits.
b(1) The Initial Balance Sheet will look as follows:
Federal Reserve Bank
Balance Sheet
Particulars Amount ($' million)
Assets
Treasury Securities (w.1) 50
Liabilities
Reserves (w.1) 50
National Bank
Balance Sheet
Particulars Amount ($' million)
Assets
Reserve deposits at Fed (w.1) 50
Loan 450
Total assets 500
Liabilities
Deposit 500
Total liabilities 500
b(2) The Balance Sheet after all the changes will look as follows:
Federal Reserve Bank
Balance Sheet
Particulars Amount ($' million)
Assets
Treasury Securities (w.5) 41.38
Liabilities
Reserve (w.5) 41.38
National Bank
Balance Sheet
Particulars Amount ($' million)
Assets
Reserve deposits at Fed (w.10) 41.25
Loan (w.11) 474.38
Total assets 515.63
Liabilities
Deposit 515.63
Total liabilities 515.63
Workings:
For part a
w.1: Treasury Securities = Reserves = Current transaction deposits * Current reserve requirement percentage = $500 million * 10% = $50 million
w.2: New initial required reserves = Current transaction deposits * New reserve requirement percentage = $500 million * 8% = $500 million * 8% = $40 million
w.3: Change in bank deposits = (1/(New reserve requirement percentage + (1 – Percentage returned by borrowers))) * (Old initial required reserves - New initial required reserves) * Percentage of excess reserves converted to loans by National Bank = (1/(8% + (1 - 50%))) * (50 million - $40 million) * 100 = 17.24 million
w.4: New transaction deposits = Current transaction deposits + Change in bank deposits = $500 million + $17.24 million = $517.24 million
w.5: Treasury Securities = Reserve deposits at Fed = New transaction deposits * New reserve requirement percentage = $517.24 million * 8% = $41.38 million
w.6: Loans = New transaction deposits - Reserve deposits at Fed = $517.24 million - $41.38 million = $475.86 million
For part b.
w.7: New initial required reserves = Current transaction deposits * New reserve requirement percentage = $500 million * 8% = $500 million * 8% = $40 million
w.8: Change in bank deposits = (1/(New reserve requirement percentage + (1 – Percentage returned by borrowers))) * (Old initial required reserves - New initial required reserves) * Percentage of excess reserves converted to loans by National Bank = (1/(8% + (1 - 60%))) * (50 million - $40 million) * 75% = 15.63 million
w.9: New transaction deposits = Current transaction deposits + Change in bank deposits = $500 million + $15.63 million = $515.63 million
w.10: Reserve deposits at Fed = New transaction deposits * New reserve requirement percentage = $515.63 million * 8% = $41.25 million
w.11: Loans = New transaction deposits - Reserve deposits at Fed = $515.63 million - $41.25 million = $474.38 million
[Related to Solved Problem 3.1B] In 2015, the Washington Nationals baseball team signed pitcher Max Scherzer to a contract to play for them for seven years. He would be paid $15 million dollars per year for 14 years—an additional 7 years beyond the end of the time he would be committed to play for the Nationals. The contract was widely reported as being worth $210 million (or $15 million per year×14 years). One baseball writer argued, though, that "this deal serves as a nice reminder that the payment terms of a deal can have an impact on the actual value of the contract." Source: Dave Cameron, "Max Scherzer and When $210 Million Isn't $210 Million," fangraphs, January 19, 2015. Which of the following statements best represents the actual value of the contract? A. The actual value of the contract is more than $30 million for each year he plays. B. Scherzer's contract is worth $210 million on the day he signs it. C. The actual value of the contract is less than $30 million for each year he plays. D. The actual value of the contract is $30 million for each year he plays. Assume for simplicity that Scherzer receives his $15 million per year salaries for 2018, 2019, and 2020 at the end of each calendar year. The interest rate for this period of time is 7%. The present value of the salaries he will receive for these three years on January 1, 2018 is approximately A. $41.9 million. B. $45 million. C. $36.7 million. D. $39.4 million.
In January, Dieker Company requisitions raw materials for production as follows: Job 1 $960, Job 2 $1,400, Job 3 $760, and general factory use $620. Prepare a summary journal entry to record raw materials used. (Credit account titles are automatically indented when amount is entered.
Answer:
Dr Work in Process Inventory $3,120
Dr Manufacturing Overhead $620
Cr Raw materials Inventory $3,740
Explanation:
Preparation of the summary of journal entry to record raw materials used.
Based on the information given the summary of journal entry to record raw materials used will be:
Dr Work in Process Inventory $3,120
(Job 1 $960+Job 2 $1,400+Job 3 $760)
Dr Manufacturing Overhead $620
Cr Raw materials Inventory $3,740
($3,120+$620)
(Being to record the record raw materials used)
XYZ just deposited $3,700 in an account that will earn 7.1 percent per year in compound interest for 9 years. If Svetlana deposits $4,000 in an account in 3 years that earns simple interest, then how much simple interest per year must Svetlana earn to have the same amount of money in 9 years from today as XYZ will have in 9 years from today
Answer:
11.92%
Explanation:
The computation of the simple interest per year is shown below:
Future value would be
= Deposited Amount × (1 + rate of interest)^years
= $3,700 × (1 + 7.1%)^9
= $6,859.73
Now the simple interest is
= (Future value ÷ deposit) - 1 ÷ number of year
= ($6,859.73 ÷ $4,000) - 1 ÷ 9
= 0.71493 ÷ 9
= 11.92%
What are bank notes in economics?
Answer:
A banknote is a negotiable promissory note which one party can use to pay another party a specific amount of money. A banknote is payable to the bearer on demand, and the amount payable is apparent on the face of the note.
Which of the following is a disadvantage of geographical departmentization?
Answer:
The overlap of assignments results in territorial departmentization.
Explanation:
Other than stressing individual departments divisions, it reflects on an entity as whole and. It forbids differentiation among workers, leading to duplication of duties. It is restricted to organisations that are small.
Explain how each of the following is presented in a multiple-step income statement. Sale of marketable securities at a loss. Adjusting entry to create (or increase) the allowance for doubtful accounts. Entry to write off an uncollectable account against the allowance. Adjusting entry to increase the balance in the marketable securities account to a higher market value.
Answer:
Presentation of a Multiple-step Income Statement
1. Sale of marketable securities at a loss.
In the non-operating section of the income statement
2. Adjusting entry to create (or increase) the allowance for doubtful accounts.
In the operating section of the income statement
3. Entry to write off an uncollectible account against the allowance.
In the operating section of the income statement
4. Adjusting entry to increase the balance in the marketable securities account to a higher market value.
In other comprehensive income section of the income statement
Explanation:
The sale of marketable securities at a loss gives rise to a realized loss. This is recorded in the non-operating section of the income statement after the operating section. Items 2 and 3 are recorded in the operating section of the income statement, as they relate to the entity's normal operations. Item 4 refers to an unrealized gain. This is recorded in the other comprehensive income section just as unrealized losses. The other comprehensive income section shows the comprehensive income and expenses, which refer to changes in equity that originate from non-operating sources.
What is a KEY reason that an entrepreneur might choose to establish a
corporation rather than a partnership or a sole proprietorship? *
Answer:
permamence, raise more capital,more potential growth, can raise money by borrowing it, and is transferable.
Explanation:
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Please answer thank you !!!
The slope of the PPF can also be expressed as the ratio of the marginal products of labor to the marginal product of capital. consumer utility. the opportunity cost of the good measured on the horizontal axis. the ratio of abundance of labor to capital.
Answer:
the opportunity cost of the good measured on the horizontal axis.
Explanation:
The Production possibilities frontiers is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.
The PPF is concave to the origin. This means that as more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.
Genting Berhad is a Malaysian conglomerate with holdings in plantations and tourist resorts. The beta estimated for the firm relative to the Malaysian stock exchange is 1.15, and the long-term government borrowing rate in Malaysia is 11.5%. The Malaysian risk premium is 12%. The expected return on the stock for a Malaysian National who is not Internationally diversified is closest to:
Answer:
25.3%
Explanation:
The expected return can be determined using the capital asset pricing model
The expected return = risk free return + (risk premium x beta)
11.5% + (1.15 x 12%) = 25.3%
Rediger Inc., a manufacturing Corporation, has provided the following data for the month of June. The balance in the Work in Process inventory account was $35,000 at the beginning of the month and $23,500 at the end of the month. During the month, the Corporation incurred direct materials cost of $57,600 and direct labor cost of $31,900. The actual manufacturing overhead cost incurred was $54,300. The manufacturing overhead cost applied to Work in Process was $53,600. The cost of goods manufactured for June was:
Answer:
the cost of goods manufactured is $154,600
Explanation:
The computation of the cost of goods manufactured is shown below:
= Opening work in process inventory + direct material cost + direct labor cost + manufacturing overhead cost applied - ending work in process inventory
= $35,000 + $57,600 + $31,900 + $53,600 - $23,500
= $154,600
Hence, the cost of goods manufactured is $154,600
At the end of 2016, burger food truck The Patty Wagon’s preliminary trial balance indicated a current ratio of 1.20. Management is contemplating paying some of its accounts payable balance before the end of the fiscal year. Explain the effect this transaction would have on the current ratio. Would your answer be the same if the preliminary trial balance indicated a current ratio of 0.8?
Answer:
No
Explanation:
Lets assume that for current ratio to be 1.2, the current assets were $120000 and Current liabilities were $100000. [120000 / 100000 = 1.2]
Now, if say $20000 of accounts payable were paid, the new current ratio would be:
= ($120000 - $20000) / ($100000 - $20000)
= $100000 / $80000
= 1.25.
Hence, the current ratio would Increase and this should be encouraged.
If current ratio were 0.8, (Current Assets $ 80000 and Current Liabilities $ 100000, 80000 / 100000 = 0.8] and $ 20000 were paid, the new current ratio would be:
= ($80000 - $20000) / ($100000 - $20000)
= $60000 / $80000
= 0.75
Hence, the current ratio would Decrease. This should be discouraged.
Conclusion: No, the answer would not be the same if current ratio were 0.8 instead of 1.2.
George transfers cash of $150,000 to Finch Corporation, a newly formed corporation, for 100% of the stock in Finch worth $80,000 and debt in the amount of $70,000, payable in equal annual installments of $7,000 plus interest at the rate of 9% per annum. In the first year of operation, Finch has net taxable income of $40,000. If Finch pays George interest of $6,300 and $7,000 principal payment on the note:
Answer:
Finch has an interest expense deduction of the amount of $6,300.
Explanation:
Based on the information given in a situation where Finch pays George interest of the amount of $6,300 in which the amount of $7,000 was the principal payment on the note which means that Finch will have an interest expense deduction of the amount of $6,300 reason been that the amount of interest that was paid to George which is $6,300 will be the amount that is allowed for deduction.
Jackson Inc. listed the following data for 2019: Budgeted factory overhead $1,272,000 Budgeted direct labor hours 80,000 Budgeted machine hours 40,000 Actual factory overhead 1,201,400 Actual direct labor hours 86,700 Actual machine hours 39,800 Assuming Jackson Inc. applied overhead based on machine hours, the firm's predetermined overhead rate for 2019 (round calculations to 2 significant digits) is:
Answer: $31.80 per machine hour
Explanation:
Based on the information that have been given in the question, since the overhead was applied by Jackson Inc., therefore, the firm's predetermined overhead rate will be:
= Budgeted factory overhead / Budgeted machine hours
= $1,272,000 / 40000
= $31.80 per machine hour
Answer correctly and u will receive brainliest and 15 pts
Answer:
b
Explanation:
Answer:
The chemistry professor with a doctoral degree would have the highest pay.
corporation borrowed money through an 8-month, 9% note for $100,000 on October 1, 2020. The note is due on May 30, 2021. The correct adjusting entry at year-end, December 31, 2020 (assuming no other adjustments had been made) would include an: Select one: a. Decrease to interest payable for $6,000 b. Increase to interest expense for $3,750 c. Increase to interest payable for $9,000 d. Increase to interest payable for $2,250 e. Decrease to cash for $6,000
Answer:
d. Increase to interest payable for $2,250
Explanation:
At year end which is December 31, 2020, the company has incurred an interest expense of 3 months on the amount borrowed since October 1 to December 31 is a period of three months.
As a result, the interest expense to be accrued for is computed thus:
accrued interest expense= $100,000*9%*3/12
accrued interest expense=$2,250
The appropriate entries would to debit(increase) expense with $2,250 while interest payable is credited(increase) with the same amount
Case Study: Melanie’s Breakeven Analysis Melanie is considering opening a not-for-profit child care and education center and wants to figure out what her monthly budget would look like. She has come up with the following sets of numbers, which may or may not be realistic in her area. Monthly Fixed Costs $4,000 Number of Children Served 15 Salary and Benefits Costs $7,000 Estimated Food Costs $1,000
Answer:
$800
Explanation:
Calculation for how much would she need to charge per month for tuition in order to break even
Using this formula
Amount to charge to break even=[(Monthly Fixed Costs+Salary and Benefits Costs+Estimated Food Costs)÷Number of Children Served]
Let plug in the formula
Amount to charge to break even=[($4,000+$7,000+$1,000)÷15]
Amount to charge to break even=$12,000/15
Amount to charge to break even=$800 per month
Therefore the amount she would need to charge per month for tuition in order to break even will be $800
who was a main practitioner of virtue ethics?
Explanation:
Virtue ethics began with Socrates, and was subsequently developed further by Plato, Aristotle, and the Stoics. Virtue ethics refers to a collection of normative ethical philosophies that place an emphasis on being rather than doing.
In the current year, Tanager Corporation (a calendar year C corporation) had operating income of $480,000 and operating expenses of $390,000. In addition, Tanager had a long-term capital gain of $55,000 and a short-term capital loss of $40,000. a. Compute Tanager's taxable income and tax for the year.
Answer: See explanation
Explanation:
Tanager's taxable income would be calculated as:
= Operating income - Operating expense + Long term gain + Short term loss
= $480,000 - $390,000 + $55,000 - $40,000
= $105,000
Tanager's tax for the year will be:
= $105,000 × 21%
= $105,000 × 0.21
= $22,050
The sales tax hurts economic efficiency. If the Mayor’s only consideration was maximizing market efficiency, then you would recommend a zero sales tax. Suppose, though, that the Mayor is considering spending the revenue raised by the tax on a city government program. What specific advice would you give to ensure that the city’s overall economic welfare is improved from the policy and the tax levied to finance the program?
A sales tax is collected by the local and the state government. For the welfare finding.
What is a sales tax. ?The sales tax is a tax that is paid to certain goods and services. It allows the sellers to collect the finds from the taxes. When the tax is on the goods and services is given to the body directly to the consumer. The spending of the tax in the city program of the govt lead to economic welfare and improvement of the financial levels.
The sales tax affects the economics of the nation and hence the efficacy gets decreased. If the mayor's only consideration was to maximize the efficiency of the market then you would recommend a zero sales tax. On the basis of the mayor consideration that the revenue is raised for the tax.
Find out more information about the sales tax.
brainly.com/question/8241315.
James has earned his doctorate in kinesiology and gone on several job interviews. He has been offered positions at different universities. James is planning to move out of state next year, so his primary factor for consideration is that he not be tied down to a long-term commitment. Which option would work the best for him?
a tenure-track position as an assistant professor at a liberal-arts college
a position as an adjunct professor at a technical college
The director of a community athletic center
a postdoctoral fellow at a university
