Marginal tax rate in relation to this question is:
The percentage of tax applied to Daniel's income for each tax bracket in which Daniel qualify. Thus, the marginal tax rate is the percentage taken from Daniel's next dollar of taxable income above a predefined income threshold.
Therefore, since Daniel neglected to include a $1,280.00 tax deduction, this will decrease Daniel's taxes by:
$1,280.00 × 0.22 = $281.60
Answer:
Decreases taxes by $281.60
Answer:
D. decrease in the ledger cash account balance (book balance)
Explanation:
The check was written and issued but was not recorded in the ledger. The check is appearing in the bank statements but not in the book balance. It means the bank has already factored and adjusted the amount in the customer statements.
The customer needs to adjust their books to reflect the check amount. The amount should decrease the balance in the customer books balance.
Answer:
Answer is option B, i.e. Boredom.
Explanation:
Having mastered a particular task, there is high possibility that the person might not feel motivated enough to work more. This can be because he/she has already achieved the level of expertise in that specific job and now feels bored as the same job creates a sense of monotony to him/her. Therefore, the very possible natural consequence will be Boredom after one has gained mastery in his/her job.
Answer:
Cash Debit $ 220
Subscriptions received in advance Credit $ 220
Explanation:
The most appropriate journal entry would be by debiting cash with $ 220 since cash has been received.
The credit account would be Subscriptions received in advance since the magazines have to be delivered in 2018 and the revenue has not been earned at the time of collections. This would be classified in the balance sheet under current liabilities.
Answer:
Net Increase in profit is $27,000
Explanation:
* The data was missing in this question, a similar question is attached with the answer, and answer is made accordingly. Please find it.
Sales ( $350,000 x 120% ) = $420,000
- Variable cost ( 40% ) = $168,000
- Traceable fixed cost( 175000+15000) = <u>$190,000</u>
Net Profit = $62,000
Net Increase in Net Income = $62,000 - ( 350,000 - (350,000 x 40%) - 175,000 ) = 27,000
