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3 years ago

What is the idea behind “cutting taxes” (lowering taxes). select one:

1 answer:

8 0

The correct option is A. The effect of tax cut is reduction in the amount of money that the government is generating and increase in the amount of money available to those whose taxes are reduced. Government usually cut taxes in order to boost the economy through increased spending.

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Presented below are the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2021.

dedylja [7]

Solution :

Current Assets

Cash $ 20,000

Accounts receivable $ 1,30,000

Less: Allowance for uncollectible accounts - $ 13,000

Note receivable $ 100,000

Interest receivable $ 3,000

Marketable securities $ 32,000

Raw materials $ 24,000

Work in process $ 42,000

Finished goods $ 89,000

Prepaid Rent(Half of $ 60,000) <u> $ 30,000 </u>

Total current assets $ 4,57,000

Current Liabilities

Deferred revenue ($36,000/2) $ 18,000

Accounts payable $ 1,80,000

Interest payable <u> $ 5000 </u>

Total current liabilities $ 2,03,000

Working capital (4,57,000 - 2,03,000) $ 2,54,000

8 0

3 years ago

Which individual is responsible for ordering, preparing, and reviewing closing-related documents, such as the title policy and s

Ilia_Sergeevich [38]

The closing agent is responsible for ordering, preparing, and reviewing closing-related documents.

<h3>Who is a Closing agent?</h3>

This is a professional who deals in real estate transactions and acts a middle man between the buyer and the seller.

He ensures the transfer of the legal title is appropriately done by preparing and reviewing closing-related documents, such as the title policy and settlement statement.

Read more about Closing agent here brainly.com/question/20787805

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8 0

2 years ago

b. rational, self-interested government officials seeking more funding for mass transit through higher taxes should consider

Marysya12 [62]

Higher taxes is very unpopular and may result in losing the future elections.

Higher tax rate means decrease in the real income of the people. This will results in rising of the inflation as higher the tax rate the more will be the cost of production.

There will be many other consequences for the implication of higher tax rates such as people will not like that government anymore because very few people if comfortable in paying more taxes.

It will increase the gap between the rich and poor.

It may be possible that in future people will not prefer this government again for charging higher tax rates.

To know more about government:

brainly.com/question/16940043

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6 0

2 years ago

You own a portfolio that has a total value of $235,000 and it is invested in Stock D with a beta of .82 and Stock E with a beta

Vlad1618 [11]

Answer:

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8 0

4 years ago

Comfort chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 7

bonufazy [111]

Answer:

1) total equivalent units:

materials = 73,000

conversion = 81,500

2) costs assigned to ending WIP:

materials = $23,013.70

conversion = $27,288.32

Explanation:

beginning WIP 78,000 + 10,000 - 73,000 = 15,000

materials = 100% (0 added during the period)

conversion = 30% (70% added during the period, 10,500 EU)

units started 73,000

units finished 78,000

units started and finished = 63,000

ending WIP 10,000

materials = 100%

conversion = 80%, 8,000 EU

Beginning WIP

Materials $24,000

Conversion $35,000

Costs added during the period:

Materials $168,000

Conversion $278,000

total equivalent units:

materials = 73,000

conversion = 10,500 + 63,000 + 8,000 = 81,500

cost per EU:

Materials = $168,000 / 73,000 = $2.30137

Conversion = $278,000 / 81,500 = $3.41104

costs assigned to ending WIP:

materials = 10,000 x $2.30137 = $23,013.70

conversion = 8,000 x $3.41104 = $27,288.32

5 0

3 years ago