Answer:
$110.00
Explanation:
Nandina Corporation
The amount of amortization expenses for 2018
State fees for incorporation $800
Legal and accounting fees incident to organization 1,500
Temporary directors’ fees 1,000
Total $3,300
Hence:
$3,300/180 months x 6 months
= $110.00
Therefore the amount of its amortization expense for 2018 will be $110.00
Progressive Tax is used when those who benefit most from the stadium bear the highest tax burden.
<h3>
What is Progressive Tax?</h3>
- Progressive taxes are levied at a higher rate as the taxable amount rises. When a tax rate progresses from low to high, it is said to be progressive.
- As a result, a taxpayer's average tax rate is lower than their marginal tax rate. The phrase can be used to describe both individual taxes and an entire tax system.
- Progressive taxes are implemented in an effort to lessen the impact of taxes on those who have a lower ability to pay because they gradually shift the incidence to those who have a higher ability to pay.
- Regressive taxes, like sales taxes, are the antithesis of progressive taxes since they require the poor to contribute a higher percentage of their income than the wealthy.
To learn more about Progressive Tax with the given link
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Answer:
The following entries will be made on July 10
Explanation:
Account Receivable Dr.$2,000
Bad debt Expense Cr.$2,000
Bank Dr.$2,000
Account Receivable Cr.$2,000
Firstly the writ off made on May 3, was reinstated as the amount is collected then in second entry, we recorded collection of cash from A. Hopkins.
Answer:
Allen Steel Company is considering whether to build a new mill. If the interest rate falls,
d. the present value of the returns from the mill will rise, so Allen will be more likely to build the mill.
Explanation:
A fall in the interest rate payable by Allen Steel Company will increase the present value of the returns that it can generate from building a new mill financed with debt. This is an incentive for investors to build more capital assets to increase productive activities in the economy. This is why the fall will most likely encourage Allen to build the mill.
