All categories

1 year ago

What is a documentary stamp tax?

1 answer:

8 0

A documentary stamp tax is a transfer tax established on the price of the property being conveyed. Someone who possesses all ownership stakes in real property owns. legal title to the real effects.

<h3>What is a documentary stamp used for?</h3>

Proprietary stamps paid tax obligations on goods like alcohol and tobacco, and were also used for various benefits, while Documentary stamps paid assignments on legal documents, mortgage deeds, stocks and a fair number of other legal transactions.

<h3>Who will pay the documentary stamp tax?</h3>

The tax is paid by the person creating, signing, issuing, accepting or transferring the records. However, whenever one party to the taxable document enjoys exemption from the tax, the other party thereto who is not excused shall be the one directly responsible for the tax.

To learn more about stamp tax, refer

brainly.com/question/207865

#SPJ9

You might be interested in

The following 12%, $1,000 notes were issued on December 1. Which of the following is the correct method of calculation for the i

Aliun [14]

Answer:

A) Interest on a 4-month note is calculated as: $1,000 × 12% × 1/12.

Explanation:

Each note is worth $1,000

Each note carries a 12% interest rate

Only one month has passed since the notes were issues, so the time = 1/12

Therefore the interest accrued from December 1 to December 31 = note value x note's interest x time = $1,000 x 12% x 1/12 = $10

5 0

4 years ago

Would it be more profitable to own 200 shares of pennys pickles or 1 share from exxon?

Sauron [17]

Answer :

Exxon

Explanation :

It Would Most Definitely want Exxon. with 200 shares of Penny's Pickles You Only have 2%. Exxon You'd Have Around 3.5 %

6 0

3 years ago

Read 2 more answers

Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 315,000 Beginning m

prohojiy [21]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Q=1000

Sales= $ 315,000

Beginning merchandise inventory= $21,000

Purchases= $210,000

Ending merchandise inventory= $10,500

Fixed selling expense= $ ?

Fixed administrative expense= $12,600

Variable selling expense= $15,750

Variable administrative expense= $ ?

Contribution margin= $63,000

Net operating income= $18,900

First, we have to calculate the variable administrative expense:

Contribution margin= sales - cost of goods sold - variable selling expense - variable administrative expense

63000= 315000 - (beginning inventory + purchase - ending inventory) - 15750 - variable administrative expense

variable administrative expense= 315000 - (21000+210000-10500)-15750-63000

variable administrative expense= $15750

Now, we can calculate the fixed selling expense:

Net operating income= contribution margin - fixed selling expense - fixed administrative expense

18900= 63000 - fixed selling expense - 12600

fixed selling expense= 63000-12600-18900

fixed selling expense= 31500

A)Sales= 315,000

Variable costs:

Cost of good sold= 220,500

Variable selling expense= 15,750

Variable administrative expense= 15,750

Total variable cost= 252,000

Contribution margin=$63000

Fixed costs:

Fixed selling expense= 31,500

Fixed administrative expense= 12,600

Total fixed cost= $44,100

Net profit= $18,900

B) Revenue= 315,000

COGS= 220,500 (-)

Gross porfit= 94500

Selling expense= (15750+31500)= 47,250

Administrative expense= (15750+12600)= 28,350

EBITDA= 18,900

C) Selling price per unit= 315,000/1000= $315

D) Variable cost per unit= total variable cost/q= 252000/1000= $252

E) Contribution margin per unit= 63000/1000= $63

F) The contribution format income statement, because you can easily analyze the effect of each unit in the cost structure and net income.

7 0

4 years ago

Consumers determine value of the product on the basis of _______. a. perceived satisfaction b. the opportunity cost to buy the p

nekit [7.7K]

Consumers determine value of the product on the basis of the opportunity cost to buy the product.

Opportunity cost – in macroeconomic theory, the opportunity cost of one activity is the loss of value or benefit that would be incurred by engaging in that activity, in comparison to engaging in an alternative activity offering better return in value or benefit.

When the consumers calculate the value of product, they look at the benefits and then subtract the cost to see if the benefits exceed the costs.

Therefore the consumers determine value of product on the basis of opportunity cost to buy the product by doing cost benefit analysis.

Learn more about opportunity cost here

brainly.com/question/8846809

#SPJ4

7 0

2 years ago

When a nation is under-allocating resources to the production of a good, then the:_________.

Amanda [17]

Answer:

c. marginal benefit is less than the marginal cost of the good.

Explanation:

Allocation of resources is important in every nation or society because, human wants are unlimited whereas the resources meant to satisfy these wants are in short supply. Therefore, only the most important needs are satisfied before the less important needs. Marginal benefit is the maximum sum of money that consumers are willing to pay for an additional good or service. Marginal cost is the difference in cost when a new or additional unit of goods is produced.

Nations would allocate less to the production of a good when the maximum price consumers are willing to pay for an added unit of that good becomes less than changes in cost when a unit of that good is produced. Marginal benefit reduces when consumption of the good has increased to a reasonable extent. The consumers then lose interest in paying more for that good.

7 0

4 years ago