Answer:
d. affects people's willingness to work save, and invest.
Explanation:
Marginal tax rate by definition is the rate of tax charged when an individual makes an additional dollar of income. If workers are charged higher tax rates , they are more likely to work less, to not look for higher paying jobs or not work at all than if they faced lower rates. A lower tax rate may be a good idea for policymakers but it could eliminate assistance given to poor families and individuals. Therefore each option has a tradeoff.
Answer:$600
Explanation:
The full amount of$600 will be credited to Perle as his service income on completion of the dental services and debited to wood account as a debtor.
The $200 will reduce the debt to $400 , the $400 which will be recorded through a journal by debiting bookcase and crediting Wood.
Narration. Recognition of bookcase built as debt payment.
Answer: $67600
Explanation:
Using the flow-to-equity method of valuation, the amount borrowed will be calculated thus:
NPV = $157000
Add : Initial investment = $640000
Present value of cash inflow = $797000
Less : Present value of Levered cash flow = $729400
Amount borrowed = $67600
Therefore, the amount borrowed is $67600.
Answer:
Joan will pay income tax on the $10,000 she withdrew in 2018.
Explanation:
When withdrawing from traditional retirement account, the following rules apply:
1. Withdrawals before attaining the age of 59.5 years attract a penalty of 10%, along with income tax on the amount withdrawn.
2. Withdrawals after the age of 59.5 years are treated as income, so income tax is paid on it. In this case tax on the $10,000 withdrawn.
3. At age 70.5 and above you must take the Required Minimum Distribution (RMD) from the pension account.
Note: Roth IRA does not attract tax payments for ages 59.5 years and above, unlike traditional IRA that attracts income tax.
RMD payments does not apply for Roth IRA.
Answer:
$5,225
Explanation:
Calculation for What should Tringali report as its deferred income tax liability as of the end of its first year of operations
Using this formula
Deferred income tax liability=Temporary difference-depreciation*Tringali's tax rate
Let plug in the formula
Deferred income tax liability= $20,900 * 25%.
Deferred income tax liability=$5,225
Therefore What Tringali should report as its deferred income tax liability as of the end of its first year of operations is $5,225
