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3 years ago

Which is the primary source of revenue for the federal government

1 answer:

soldier1979 [14.2K]3 years ago

8 0

The three main sources of federal tax revenue are individual income taxes, payroll taxes, and corporate income taxes. Other sources of tax revenue include excise taxes, the estate tax, and other taxes and fees.

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On April 1, 2021, Parks Co. purchased machinery at a cost of $42,000. The machinery is expected to last 10 years and to have a r

german

Answer:

Depreciation for 2021 is $6,300 with book value of the machinery being $35,700.
For 2022, Depreciation is $7,140 with book value of $28,560.

Explanation:

The double-declining method is otherwise known as the reducing balance method and is given by the formula below:

Double declining method = 2 X SLDP X BV

SLDP = straight-line depreciation percentage

BV = Book value

SLDP is 100%/10 years = 10%, then 10% multiplied by 2 to give 20%

At Year 2021, 20% X $42,000 = $8,400/yearly

Remember, the machinery was purchased on April 1, 2021, so 9 months depreciation would be accounted for as: 9/12 x $8,400 = $6,300.

So, the book value of the machinery is $42,000 - $6,300 = $35,700 at December 31, 2021

At Year 2022, 20% X $35,700 ($42,000 - $6,300) = $7,140

So, the book value of the machinery is $35,700 - $7,140 = $28,560 at December 31, 2022

Accumulated depreciation expense for Years 2021 to 2022, under this method, is $13,440 (addition of all the yearly depreciation).

8 0

3 years ago

A brown-eyed father and a green-eyed mother have a 25% chance of having a green-eyed child. What is the probability that, in a f

nignag [31]

Answer:t

Explanation:

7 0

3 years ago

Â Under Eagle Co.'s job order costing system, manufacturing overhead is applied to Work-in-Process using a predetermined annual

Elina [12.6K]

Answer:

Cost of jobs completed in February=

Direct materials issued to production+

Direct labor costs+

Manufacturing overhead applied

=(96000+113000+119000)

=$328000(B).

5 0

3 years ago

What is the first step involved in developing and implementing a social media marketing campaign?

const2013 [10]

Answer:

The first and foremost step is the determine the budget and also to identify the goals and the strategy.

Explanation:

In order to develop and implement or execute the social media marketing campaign or plan one need to follow the following six essential or vital steps:

Step 1: Decide or Determine the Objective and Budget

Step 2: Identify or recognize the Target Audience

Step 3: Create the Message

Step 4: Develop or spread the Media Strategy

Step 5: Implement or execute the Marketing Campaign

Step 6: Last step is to measure and analyze the Results or outcomes

Therefore, the first step is to decide the goals and the budget.

4 0

3 years ago

During 2021, a company sells 21 units of inventory. The company has the following inventory purchase transactions for 2021: Date

Ugo [173]

Answer:

Cost of goods sold = 1,116

Ending inventory = 468

Explanation:

In LIFO (last in first out) method, the goods come in most recently will come out first when it comes to sales transaction. So, 21 units of sales during 2021 includes 12 units purchased at Sep.8 and 9 units of beginning balance:

Cost of goods sold during 2021 = 12 x 54 + 9 x 52 = 1,116.

Ending inventory value for 2021 = 1,584 - 1,116 = 468.

5 0

2 years ago