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2 years ago

Question 7 of 25 Social Security withholding is an example which tax

Business

1 answer:

Reil [10]2 years ago

3 0

Regressive tax - larger proportion of lower-income earners’ total income is withheld, compared to high-income earners

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A citizen group raised funds to establish an endowment for the Eastville City Library. Under the terms of the trust agreement, t

tino4ka555 [31]

Answer:

a. Journal entries

Particulars Debit Credit

Revenue: Addition to permanent $510,000

endowment

Revenue investment income $48,000

Revenue : increase in fair value $8,000

of investment

Expenditure - subscription $39,500

Fund balance $526,500

b. Statement of revenue , expenditure , and changes in fund balance

Particulars Amount

Revenue

Addition to permanent endowment $510,000

Investment income $48,000

Increase in fair value of investment $8,000

Total revenue $566,000

Expenditure

Library subscription $-39,500

Net change in fund balance $526,500

Beginning fund balance 0

Ending fund balance $526,500

c. Balance sheet

Assets

Cash $8,500

Investments $5,18,000

Accrued interest receivable $2,000

Total assets $528,500

Liabilities and fund balance

Liabilities

Accounts payable $2,000.00

Fund balance

Non spendable permanent $510,000

fund principal

Assigned to library $16,500

($526,500 - $510,000)

Total fund balance $526,500

Total liabilities and fund balance $528,500

3 0

3 years ago

The presence of price floors in a market is usually an indication that: the forces of supply and demand are unable to establish

Aleonysh [2.5K]

When there is a price floor in the market, this usually means that the sellers of the good or service outnumber the buyers.

<h3>What is a price floor?</h3>

It refers to an amount that the price of a good is not allowed to fall below.
It is imposed by the government to prevent market failure.

The reason the price might fall so low that a price floor would be implemented is that there are more suppliers in the market than consumers. The price will therefore fall according to the Law of Demand.

In conclusion, option D is correct.

Find out more on the law of demand at brainly.com/question/1078785.

8 0

3 years ago

Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Account

Shalnov [3]

Answer:

Oct. 1

Rent Expense $2,800 (debit)

Cash $2,800 (credit)

Oct 3.

Advertising Expense $525 (debit)

Cash $525 (credit)

Oct 5.

Supplies $1,250 (debit)

Cash $1,250 (credit)

Oct 6.

Office Equipment $9,300 (debit)

Accounts Payable $9,300 (credit)

Oct 10.

Cash $16,600 (debit)

Accounts Receivable $16,600 (credit)

Oct 15.

Accounts Payable $3,720 (debit)

Cash $3,720 (credit)

Oct 27.

Miscellaneous Expense $590 (debit)

Cash $590 (credit)

Oct 30.

Utilities Expense $275 (debit)

Cash $275 (credit)

Oct 31.

Accounts Receivable $50,160 (debit)

Fees Earned $50,160 (credit)

Oct 31.

Utilities Expense $830 (debit)

Cash $830 (credit)

Oct 31.

Capital; Jason Payne $1,700 (debit)

Cash $1,700 (credit)

Explanation:

Transactions are recorded when they occur or incur according to Matching Principle.

Note ; Cash withdrawals reduce the owners capital account and decreases the assets of cash.

6 0

4 years ago

Mary Nabholz travels the same way to work every day. She notices advertisements in store windows when the ads first go up. Howev

RoseWind [281]

Answer:

The answer is D.This is called adaptation.

Explanation:

5 0

3 years ago

Read 2 more answers

What are the benefits of a woman working in her own company of construction? (is her own boss)

stira [4]

Answer:

She gets to choose her hours, pick where she works, etc

Explanation:

If she owns the company then she chose her work conditions

5 0

3 years ago

Read 2 more answers