A reduction in retained earnings of $2,950,000.
$37(500,000 x .14) = &2,590,000
self-employed taxpayers pay the employee portion of the fica tax burden through self-employment taxes, but they are exempt from paying the employer portion . This statement is false.
Tax payment for self employed?
The practice of working independently rather than for an employer is known as self-employment.If a person chooses to be recognized as a self-employed individual or is generating income for which a tax return must be filed, tax authorities will typically view them as such.The crucial question for tax authorities in the real world is not whether a person is engaged in a business activity—which is still referred to as "trading" when referring to the provision of a service—but rather whether the activity is profitable and, as a result, potentially subject to taxation.To put it another way, the tax authorities generally ignore occasional and hobby- or enthusiast-based economic activity because trading is likely to be ignored if there is no profit.People who work for themselves are typically referred to as sole proprietors (or sole traders), independent contractors, or partners.
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Answer:
a. 2.01 times
Explanation:
Asset Turnover Ratio = Net Sales / Average Total Assets
Asset Turnover Ratio = $510,000 / $253,500
Asset Turnover Ratio = 2.01 times
Asset Turnover Ratio > 1
Net Sales > Average Assets
Answer:
<em>The flow is in the form of inputs and then dollars in a sequence. </em>
Explanation:
<em>(1)</em> The household supplies factor input services in the form of labor to the firm.
<em>(2)</em> The labor produces goods and services for the firm.
<em>(3)</em> The firm pays wages to the labor in return for the produce.
<em>(4)</em> The households buy the goods and services of the firm.
<em>(5)</em> For the goods and services offered, the firm takes dollars from the households.
Hence, the entire above process emphasizes a flow <em>in the form of inputs and then dollars from the household to the firm for the output purchased by it from the firm.</em>
Answer:
c
Explanation:
The adaption model was developed by Miles and Snow (1978)
Businesses are classified as :
- Reactors
- Defenders
- Analysers
- prospectors
Company XYZ can be classified as a defender. this is because they have taken steps to increase control internally. It also has a lot of rules which might stifle adaption
