Answer:
The answer is option 3:
Progressive
Explanation:
The overall federal tax system is progressive, with total federal tax burdens a larger percentage of income for higher-income households than for lower-income households.
Individual income taxes are an example of progressive tax structure.
Progressive tax are the tax for which the percentage of income paid in taxes increases as income increases.
A tax determined by an individual's income from all sources are called Individual income tax.
Answer:
(1) $19,500
(2) $142,000
(3) $27,000
(4) $15,000
Explanation:
Depreciation is the systematic allocation of the cost of an asset to the p/l over the useful life of the asset. It may be computed as
Depreciation = (cost - salvage value)/useful life
Annual depreciation = ($220,000 - $25,000)/10
= $19,500
4 years later
Carrying amount of the equipment
= $220,000 - 4 * $19,500
= $220,000 - $78,000
= $142,000
If the asset is impaired
An asset is said to be impaired when the carrying amount is higher than recoverable amount where the recoverable amount is the higher of the fair value less cost to sell or the value in use of the asset which is the present value of the future expected inflow from the use of the asset.
Value in use = $115,000
Fair value = $85,000
Value in use = $115,000
Impairment loss = $142,000 - $115,000
= $27,000
Remaining number of years is 6
New carrying amount = $115,000
the annual depreciation expense = ($115,000 - $25,000)/6
= $90,000/6
= $15,000
Answer:
The total cost of the department’s ending work in process inventory is $684,000
Explanation:
The computation of the total cost is shown below:
= Material cost + conversion cost
where,
Material cost = (Transferred units + ending work in progress) × material cost per unit
= (68,000 units + 12,000 units) × $4
= $320,000
Conversion cost = (Transferred units + ending work in progress × percentage of completion) × material cost per unit
= (68,000 units + 12,000 units × 40%) × $5
= $364,000
Now put these values to the above formula
So, the value would equal to
= $32,000 + $364,000
= $684,000
Answer: the correct answer is $ 885,000
Explanation:
Mirr began operations on January 1, 2010
Assets= Liabilities + Patrimony or owner's equity
$860,000 = $110,000+ $750,000
In the first year liabilities grew to $120,000 and patrimony increased to $765,000 which is $750,000 beginning balance + $18,000 ($82,000 revenues - $64,000 expenses) - $ 3,000 declared dividends.
So for December 31, 2010 the assets should be
$885,000 = $120,000 + $ 765,000.
Descriptions about simple interest and yearly compounded interest are true are :
- Only compound interest has an exponent in its formula.
- Simple interest is only earned on the original principal investment.
- Compound interest is earned on principal and interest.
<h3>What is
simple interest and compound interest?</h3>
Simple interest is the one that the calculation is based on principal, or of a loan.
Compound interest is base on principal amount as well as the accumulated interest of previous periods.
Learn more about simple interest at:
brainly.com/question/20690803
