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Vesnalui [34]
3 years ago
9

Jamal is a nurse and earns $48,000 per year. He lives in California and pays about 6 percent of his income in state income taxes

. His sales tax rate is 8 percent. Diamond is an accountant and earns $50,000 per year. She lives in Arizona and pays about 3 percent of her income in state income taxes. Her sales tax rate is 9.5 percent. Jamal and Diamond are calculating their taxes for the year. They both have no dependents, so their federal tax rates are the same. Who would pay more in federal income taxes? Who would pay more in sales taxes when making purchases?
Business
2 answers:
inn [45]3 years ago
7 0

Answer:

A. Diamond

B. Diamond

Explanation:

Diamond earns more than Ethan and therefore pays more tax. The sales tax in Diamond community is higher comparing to Ethan

vovikov84 [41]3 years ago
5 0

Answer:

1. Diamond

2. Diamond

Explanation:

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What is 51/2x21/3 select the best answer
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Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 300,000 shares of $10 par common stock and 50,000 shar
Kay [80]

Answer:

The journal entries have been given as under;

Explanation:

Cash  15,000*12       Dr.$180,000

Common Stocks 15,000*10  Cr.$150,000

paid in capital-common stock 15,000*(12-10) Cr.$30,000

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8 0
4 years ago
A new labor-saving technology will likely result in..... Group of answer choices Lower wage share of output and lower Gini coeff
jekas [21]

Answer:

Higher unemployment, lower wage share of output, and higher Gini coefficient in the long run.

Explanation:

Since less labor will be used, total unemployment will increase. Besides less labor being used, more capital will be used, so the share of labor in total output will decrease. Labor efficiency increases, since you need less labor to produce the same or even a larger amount of output.

New technologies tend to increase the wages of high skilled labor and management. Since the Gini coefficient measures income inequality, then higher wages for a few will increase inequality.  

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7 0
3 years ago
Last year, Bad Tattoo Co. had additions to retained earnings of $4,780 on sales of $95,560. The company had costs of $75,720, di
fredd [130]

Answer:

e. $6,042

Explanation:

Net income of Bad tattoo co. = Addition of retained earnings + Dividends

= $4,780 + $2,980

= $7,760

Income before tax of Bad tattoo Co = Net income / (1-tax rate)

= $7,760 / (1-34%)

= $7,760 / 0.66

= $11,758

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Income before tax = Sales - Costs

- Depreciation expense - Interest expense

$11,758 = $95,560 - $75,720 - Depreciation expense - $2,040

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Depreciation expense = $19,840 - $11,758 - $2,040

Depreciation expense = $6,042

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3 years ago
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