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2 years ago

If, as your taxable income decreases, you pay a smaller percentage of your taxable income in taxes, then the tax is

1 answer:

5 0

If, as your taxable income decreases, you pay a smaller percentage of your taxable income in taxes, then the tax is Progressive tax.

<h3>What is meant by progressive taxes?</h3>

The average tax burden rises with income under a progressive tax. Low- and middle-income taxpayers bear a disproportionately tiny amount of the tax burden, compared to high-income families. A tax system that raises rates as taxable income rises is known as a progressive tax. Taxes on investment income, interest income, rental income, estates, and tax credits are a few examples of progressive taxes.

Based on the amount of tax you must pay relative to your income, taxes can be classified as regressive, proportional, or progressive. As your income declines, regressive taxes force you to pay a bigger proportion of your individual income in taxes. Tax reductions enhance people' discretionary income while reducing the government's revenue. Tax reductions typically refer to decreases in the percentage of income, commodities, and services subject to tax. Tax reductions serve as an illustration of an expansionary fiscal strategy since they give consumers greater discretionary income.

So, If, as your taxable income decreases, you pay a smaller percentage of your taxable income in taxes, then the tax is Progressive tax.

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OverLord2011 [107]

Able sold to both the low and high-tech segments last year, and marketing predicts able will have the same market share next year. 1,841 units would you forecast for able.

Marketing describes the actions a business does to encourage the purchase or sale of a good or service. Advertising, selling, and delivering goods to customers or other firms are all included in marketing. Affiliates perform some marketing on behalf of a business.

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7 0

2 years ago

The earnings reported by a company can be very different from its cash flows. There are companies that report very large positiv

irinina [24]

Answer:

High capital expenditures, low depreciation, increasing working capital

Explanation:

In simple words, cash flows refers to the in and out transnfer of cash from and by a company while operating their business and doing several differnet transactions. You just had to spend a great deal for cashflow to really be unfavorable, despite higher profits. Reinvestment consists of two components: the disparity among the capital expenditure and the deterioration which is also termed as net capital expendture as well as the working capital impact (with diminishing cash flows increasing).

3 0

3 years ago

On August 2, Jun Co. receives a $8,000, 90-day, 11.0% note from customer Ryan Albany as payment on his $8,000 account receivable

GarryVolchara [31]

Answer:

August 2 Notes Receivable 8000 Dr

Accounts Receivable- Ryan 8000 Cr

October 30 Interest receivable 220 Dr

Interest Revenue 220 Cr

October 31 Cash 8220 Dr

Notes Receivable 8000 Cr

Interest Receivable 220 Cr

Explanation:

When we receive the Note against the Accounts Receivable, we will credit the Accounts Receivable to close the account of Ryan and create a new current asset account of Notes Receivable on August 2.

On October 30, 90 days period of Note is complete so we will record the interest that is receivable for us on this note.

Interest Receivable = 8000 * 11% * 90/360 = $220

We record this as Interest Receivable as we have not received this and credit Interest revenue as it is our income.

On 31 October, when we receive cash it will be total of Notes payable and Interest so we will debit cash by 8220 and credit the Notes payable and interest receivable.

8 0

3 years ago

Johnson & Coleman has created a new line of premium quality writing desks. The company marketed the product by highlighting

KIM [24]

Answer:

I believe the answer is d

Explanation:

4 0

3 years ago

Ace Electric's income statement reports Sales of $100,000; Cost of goods sold of $46,000, Operating expenses of $34,000, Interes

sukhopar [10]

Answer:

Total Sales

Explanation:

Vertical analysis is a financial statement analysis in which all the line items of any financial statements (income statement or balance sheet) are enlisted as a percentage of one main item. For income statement, the main item is total sales as the item starts with the total sales while for balance sheet, the main item is total assets as the summation of current and non-current assets conclude the total asset. Therefore, we need to give 100% for total sales if we analyse the ratio vertically.

3 0

3 years ago