All categories

2 years ago

On which group will a progressive tax place a greater tax burden?

2 answers:

5 0

Poor citizens will be greatly affected by a increase in taxes,nobody takes into account there day to day living,rent,utilities,food and that's just to name a few.

Mama L [17]2 years ago

5 0

Answer:

The answer is D. Wealthy citizens

Explanation:

aced the test

You might be interested in

A labor contract provides for a first-year wage of $15 per hour, and specifies that the real wage will rise by 2 percent in the

eduard

Answer:

$17.9469

Explanation:

Calculation for what dollar wage must be paid in the third year

Since the first year is tend to be the base year in which the real wage and nominal wage are both $15 per hour in that year.

The real wage is suppose to increase by 2 percent in the second year which means that the real wage in year two will be $15.30 ($15 * 1.02) per hour.

In a situation where the real wage was supposed to also increase by 2 percent in the third year, this means that the real wage in year three will be $15.606 ($15.3 * 1.02) per hour.

Therefore In order for us to find the nominal wage in third year , we have to index the real wage in order for it to adjust for inflation. Thus the nominal wage in third year will be $17.9469($15.606 * 1.15).

Therefore what dollar wage must be paid in the third year will be $17.9469

3 0

2 years ago

Toggle Company reported sales of $310,000 and cost of goods sold of $180,000 for 20X2. During 20X2, Toggle’s accounts receivable

kiruha [24]

Answer:

Cash Received from customers = $293,000

Cash payments to suppliers = $167,000

Cash flows from operating activities = $460,000

Explanation:

Cash Received from customers is calculated as follows :

Sales $310,000

Less Increase in accounts receivable ($17,000)

Cash Received from customers $293,000

Cash payments to suppliers is calculated as follows :

Cost of goods sold $180,000

Decrease in Inventory $8,000

Decrease in Payable ($21,000)

Cash payments to suppliers $167,000

Cash flows from operating activities is calculated as follows :

Cash Received from customers $293,000

Cash payments to suppliers $167,000

Cash flows from operating activities $460,000

7 0

2 years ago

4.The following information is available for Lock-Tite Company, which produces special-order security products and uses a job or

mojhsa [17]

Answer:

The overview of the problem is listed throughout the section below on explanation.

Explanation:

The Journal entry is given below:

No Transaction General journal Debit($) Credit($)

1 1 Overhead of factory 120000

Some other accounts 120000

2 2 Process inventory's work 185500

$(345000-80000)\times 70 \ percent$

Overhead of a factory 185500

8 0

2 years ago

According to the Portland Business Journal, Jim Houser, a Portland auto specialist, landed a key Small Business Administration a

mario62 [17]

Answer:

reconciliate balance $ 22,388,675‬

Explanation:

bank statement: 18,835

deposits in transit 100,740

22,376,200

outstanding check

10189 (56,710)

10192 (15,365)

10193 (22,650)

10194 (12,375)

Adjusted balance: 22,388,675‬

checkbook balance: 22,385,105

interest earned 4,020

ATM card fees (450)

Adjusted balance: 22,388,675

Notes: For each statement we adjust for the unknown information.

The bank is unaware of the outstanding check and the deposit in transit. So we adjust for these concepts.

The company has no knowledge of the ffes and interest earned until receiving the bank statement so we must adjust for that amount.

7 0

2 years ago

What is the difference between accounts payable and accounts receivable?

NeX [460]

Accounts payable - Accurately tracking what's owed to suppliers, ensuring payments are properly approved and processing payments.

$\: \: \: \: \: \: \: \: \: \: \: \:$

Accounts receivable - The balance of money due to a firm for goods or services delivered or used but not yet paid for by customers.

5 0

1 year ago