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.
Answer and Explanation:
The computation is shown below:
a. The book value or net worth per share is
= (Assets - current liabilities - long term liabilities - outstanding preferred stock) ÷ (common stock shares)
= ($418,000 - $126,000 - $131,0000 - $38,700) ÷ (20,000 shares)
= $6.12 per share
b. Now the current price is
= Earnings available ÷ common stock shares × P/E
= $32,300 ÷ 20,000 shares × 21
= $33.92
c. The market value to book value is
= Market value ÷ book value
= $33.92 ÷ 6.12
= 5.54
What are the choices? A trade off in this situation would be where she takes money out of her other budgets to put toward this one, for example, if she took 3 dollars out of her jewelry budget and put those 3 dollars into her t-shirt budget to buy the 8 dollar shirt.
Answer:
Omar should get budgeting advice from a consumer credit counselor
Explanation:
It is apparent from the question that Omar is having a financial problems as he is finding it difficult to meet up with his student loan and credit cards repayment plan.
It is advisable at this point that he should engage the service of a consumer credit counselor for budgeting advice to improve on his situation.
Consumer credit counselling service is a form of service that help to proffer solution to financial problems through financial education , budgeting assistance and debt management.
Answer:
$8.5 million
Explanation:
On January 1, year 1, a company purchased equipment for $100 million.
The equipment consists of four major components, of which two components comprise 80% of the total cost and each has a 20-year useful life.
The remaining two components have costs of $10 million each; one of them has a useful life of four years, and the other has a useful life of five years.
Straight-line method of depreciation is given by the formula: Cost / Number of years
COMPONENT 1 2 3 4
COST 40M 40M 10M 10M
YEARS 20 20 4 5
DEPRECIATION 2M 2M 2.5M 2M
Therefore Total depreciation cost for year 1 = 2+2+2.5+2 = $8.5 million
