Answer:
D) Both A. and B. are true.
- A) The schedule provides no information as to whether Jurisdiction M's tax is horizontally equitable.
- B) Jurisdiction M's tax is vertically equitable.
Explanation:
When we are talking about horizontal equity of a tax, we are talking about how the tax base is measured and the ability that taxpayers have to pay the tax. There is nothing here about tax base or taxpayers' ability to pay.
On the other hand, vertical equity deals with the tax rate structure. In this case, the tax rate is progressive, meaning that it increases as the taxpayers' income increases. Progressive taxes are vertically equitable.
Answer:
Explanation:
- Given the equation ; Qxd = 10,000 − 4PX + 5PY + 2M + AX
- where PX is the price of X = $50
- PY is the price of good Y = $100
- and AX is the amount of advertising on X = 1,000 units
a) Calculate the quantity demanded of good X ; Plugging all the values into the equation ;
= 10,000 − 4(50) + 5(100) + 2(25,000) + 1000
Qxd = 61,300units
b) Calculate the own price elasticity of demand for good ;
= d(Qxd)/dpx X px/Qxd = -4 x 50/61,300
= 0.0033. hence he demand for goods is inelastic
c) l will surely recommend lowering the price as this is evident from the value of the price elasticity of demand which is negative as such an increase in the price of their goods will give rise to total loss
d ) cross-price elasticity between goods X and Y = %change in quantity/ %change in price
e) Calculate the income elasticity of good X. Is good X normal or an inferior good? = dQ/dM X M/Q = 2(25000) /61300
= 0.82.
Yes! Good X is a normal goods since the value of the income elasticity is positive.
Answer:
Dr Bad debt expense 3,070
Cr Allowance for doubtful accounts 3,070
Explanation:
$99,000 in accounts receivables
4% is considered bad debt
$99,000 x 4% = $3,960
the current balance for allowance for doubtful accounts = $890 (credit)
the adjusting entry for allowance for doubtful accounts = $3,960 - $890 = $3,070
the journal entry should be:
Dr Bad debt expense 3,070
Cr Allowance for doubtful accounts 3,070
the final balance of the allowance for doubtful accounts = $3,070 + $890 = $3,960
Considering the situation described above, to determine who should receive his memo, Keitaro would need to consult "<u>Organization Charts</u>."
This is because an <u>Organization Chart</u> is a pictorial representation that shows the structure of an organization.
It usually depicts those or the top ranks at the top, while the lower ranks are placed accordingly.
It also shows the relationships and positions or jobs of the ranks or individuals presented on the organization charts.
Organization charts is often referred to as organogram.
Hence, in this case, it is concluded that the correct answer is option A. "<u>organization chart</u>."
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