There is an employment test, a distance test, and a time test that must be met in order to deduct qualifying moving expenses

An accountant increases the price he charges for his services by 2 percent. In response, the demand for his services decreases

Rashid [163]

Answer:

Decrease

Explanation:

The reason is that the price and demand are inversely proportional so if the price has been increased then the demand of the product will be decreased. Take the example of Bugatti Chiron, the price of the car is $19 million and total number of people that own is in tens this is because the buyers are less in quantity due to higher prices of the product. Same is the case here, if the accountant is going to charge high then his revenue will drop due to lower people are willing to buy its services.

4 0

3 years ago

When Patey Pontoons issued 6% bonds on January 1, 2018, with a face amount of $600,000, the market yield for bonds of similar ri

miskamm [114]

Answer:

Follows are the solution to this question:

Explanation:

Some of the missing data is defined in the attached file, please find it.

Bond problem rates

Diagram values are based on the following:

$N = 4\times 2 \\\\$

$= 8 \ Years \\$

$i = 10.00 \% \times \frac{1}{2} \\\\$

$= 5.00 \% \\$

$\left\begin{array}{ccc} Cash \ Flow&\ \ \ \ \ \ \ Table \ Value \times Amount& \ \ \ \ \ \ \ \ = Present \ Value\\ Principal &0.676839 \times \$ 600,000& =\$ 406,104 \\ Semi-annual \ interest& 6.463213 \times \$ 18,000 & =\$ 116,337\end{array}\right \\$

Bond issuance price

Timetable for bond amortization:

please find the attachment.

5 0

3 years ago

Every worker sees a social security (fica) tax taken out of his or her paycheck. the nominal tax rate on workers is 7.65 percent

denpristay [2]

Part A:

Because, there is a ceiling on the amount of earnings that is taxable. Any earning below the ceiling will be taxed at 7.65% of the earning while any earning above the eiling will be taxed at 7.65% of the ceiling.

Given that the ceiling on the amount that is taxable is $117,000. If a worker earns $40,000, then the worker's FICA tax will be 7.65% of $40,000 = 0.0765 x $40,000 = $3,060

Therefore, the percentage of income that is paid in social security taxes by a worker in 2014 earning $40,000 is 7.65%

Part B:

Because, there is a ceiling on the amount of earnings that is taxable. Any earning below the ceiling will be taxed at 7.65% of the earning while any earning above the eiling will be taxed at 7.65% of the ceiling.

Given that the ceiling on the amount that is taxable is $117,000. If a worker earns $80,000, then the worker's FICA tax will be 7.65% of $80,000 = 0.0765 x $80,000 = $6,120

Therefore, the <span>percentage of income that is paid in social security taxes by a worker in 2014 earning</span> $80,000 is 7.65%

Part C:

Because, there is a ceiling on the amount of earnings that is taxable. Any earning below the ceiling will be taxed at 7.65% of the earning while any earning above the eiling will be taxed at 7.65% of the ceiling.

Given that the ceiling on the amount that is taxable is $117,000. If a worker earns $200,000, then the worker's FICA tax will be 7.65% of $117,000 = 0.0765 x $117,000 = $8,950.50

Therefore, the percentage of income that is paid in social security taxes by a worker in 2014 earning $200,000 is given by

$\frac{8950.5}{200000} \times100\%=4.48\%$

8 0

3 years ago

To what extent is primary product dependency the

sladkih [1.3K]

Answer: Primary product dependency is a large constraint on economic growth and development within LEDCs due to the fact that commodities and their producers are highly susceptible to price fluctuations.

Explanation:

Primary product dependency discourages investment in other aspects of the economy. Concentrating on primary products does not always help the long-term development of an economy because it can contribute to a lack of investment in other aspects such as education and industrial production.

5 0

2 years ago

On January 1, C company sells 50,000 shares of $3 par common stock for $5. It does not issue any preferred stock. Later on the c

cestrela7 [59]

Answer:

$85,000

Explanation:

Given that,

Shares sold = 50,000 shares of $3 par common stock for $5

Buys back = 10% of its common shares outstanding for $7 per share

Total equity on December 31 = $300,000

Balance in stockholder's equity without retained earnings:

= Beginning balance in stockholder's equity + Increase in stockholder's equity - Decrease in stockholder's equity

= $0 + (50,000 × $5) - (50,000 × 10% × $7)

= $250,000 - $35,000

= $215,000

Retained earnings on December 31:

= Total equity at December 31 - Balance in stockholder's equity without retained earnings

= $300,000 - $215,000

= $85,000

5 0

3 years ago