Taxes that have wealthy people pay a higher rate of tax than average or poor people are called Progressive tax. It is the type of tax that goes on increasing with increase of income. The people with higher income pays a higher amount of tax than the people with lower income. I hope the answer has helped you.
Answer:
$142,524
Explanation:
The computation of the total cost assigned to the ending work in process
inventory is shown below:
As we know that
Total cost = Material + Labor
where,
Material = 21,400 units × 100% × $3.60 = $77,040
And,
Labor = 21,400 units × 60% × $5.10 = 65,484
So, the total cost is $142,524
We simply added material and the labor cost according to their completion percentage and its cost per equivalent units
Answer: See explanation
Explanation:
The amount of depreciation for the month of January using the straight line depreciation method will be:
= (Cost - Salvage Value) / Life of Assets / 12 Months
= ($64,800 - $0) / 6 Years / 12 Months
= $10800/12
= $900 per month
The adjusting entry for depreciation on January 31 will be:
Dr Depreciation Expense - Computer Equipment $900
Cr Accumulated Depreciation-Computer Equipment $900
(To record the depreciation expense)
Answer:
Answer:
a) Monthly payment = $65.95
b) Remaining balance on her loan after making 12th payment = 11,000 - (65.95 x 12) = $10208.6
c) Interest paid in month 13 = 10208.6 * 0.5% = $51.043
Principal paid in month 13 = $65.95 - 51.043 = $14.907
Explanation:
Using financial calculator:
PV = 11,000
n = 30 years = 360 months
i/r = 6%/year = 0.5% / month
FV = 0
PMT = ? (Monthly payment = ?)
a) Monthly payment = $65.95
b) Remaining balance on her loan after making 12th payment = 11,000 - (65.95 x 12) = $10208.6
c) Interest paid in month 13 = 10208.6 * 0.5% = $51.043
Principal paid in month 13 = $65.95 - 51.043 = $14.907
Explanation:
