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andrew11 [14]
3 years ago
11

The village of goodsprings has an annual budget requirement of $8,000,000 to be funded by property taxes. assessed valuations ar

e $400,000,000, and exemptions total $25,000,000. what must the tax rate be to finance the budget?
Business
1 answer:
Natalija [7]3 years ago
3 0

2.13% or 2 2/15%  
The assessed value of all the property is $400,000,000. But $25,000,000 worth is exempted, leaving $400,000,000 - $25,000,000 = $375,000,000 worth of taxable property. Now we need to get $8,000,000 worth of taxes, so we simply divide the required income by the taxable property. So $8,000,000 / $375,000,000 = 0.021333333 = 2.1333333% 
 Now let's see if we can convert that 0.13333 portion into an exact fraction so that the Village of Goodsprings doesn't have to round up to 2.14% and doesn't loose that small amount of income by rounding down to 2.13%.
 x = 0.133333...
 10x = 1.33333...
 - x -0.13333
 9x = 1.2
 90x = 12
 x = 12/90 = 2/15


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Answer:

The correct answer is letter "A": True.

Explanation:

Stability strategies are those in which the firm does not change its core method of working, thus, it remains to focus on its current products and markets. Carrying out stability strategies is a less risky approach. The types of stability strategies can be <em>no-change strategy; profit strategy; </em><u><em>and</em></u><em> growth through concentration, integration, diversification, co-operation, internationalization.</em>

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3 years ago
Employees are required to take vacations. 2. Any member of the sales department can approve credit sales. 3. Paul Jaggard ships
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Answer:

1. <em>This is an example of the practice of good human resource principles</em>

<em>2.This is an example of poor establishment of responsibilities</em>

<em>3. This is an example of lack of segregation of duties</em>

<em>4. This is an example of independent internal verification</em>

<em>5. This is an example of the practice of physical control</em>

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Explanation:

1. Employees are required to take vacations.

<em>This is an example of the practice of good human resource principles</em>

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2. Any member of the sales department can approve credit sales.

<em>This is an example of poor establishment of responsibilities</em>

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3. Paul Jaggard ships goods to customers, bills customers, and receives payment from customers.

<em>This is an example of lack of segregation of duties</em>

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4. Total cash receipts are compared to bank deposits daily by someone who has no other cash responsibilities.

<em>This is an example of independent internal verification</em>

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5. Time clocks are used for recording time worked by employees.

<em>This is an example of the practice of physical control</em>

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7 0
3 years ago
Sunland Company has outstanding 500000 shares of $2 par common stock and 150000 shares of no-par 7% preferred stock with a state
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Answer:

Total dividend paid = $340,000

Preferred dividend = 7% x $4 x 150,000 x 3 years = $126,000

Dividend paid to common stock holders

= $340,000 - $126,000

= $214,000

The correct answer is C

Explanation:

There is need to calculate the preferred dividend for 3 years, which is a function of dividend rate, current market price, number of preferred stocks outstanding  and number of years. The current market price of the preferred stock is used for the computation because the preferred stock has no par value. Then, the amount of dividend paid to common stock holders is the difference between the total dividend paid and preferred dividend.

5 0
3 years ago
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Deter
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Date Activities Units Acquired at Cost Units Sold at Retail

May 1 Beginning Inventory 150 units at $10.00  

5 Purchase 220 units at $12.00  

10 Sales  140 units at $20.00

15 Purchase 100 units at $13.00  

24 Sales  90 units at $21.0

Answer:

Value of closing inventory =$1290

Explanation:

<em>Under the LIFO inventory system units of inventory are priced using the price of the most recent batch purchased and this continues in turn.</em>

The value of closing inventory = Total cost of inventory available for sales - cost of goods sold

<em>The cost of inventory sold would be determined as follows:</em>

140 units  :140 × $12=1,680

90 units : 90× $13 = 1,170

Total cost of goods = 1,680 + 1,170  = 2,850

<em>Total cost of inventory available for sales would be equal to :</em>

(150  × $10.00) +  (220  ×$12.00) = 4,140

The value of closing inventory = Total cost of inventory available for sales - cost of goods sold

4,140  - 2,850 = $1290

Value of closing inventory =$1290

7 0
3 years ago
You observe that the inflation rate in the United States is 1.0 percent per year and that T-bills currently yield 1.5 percent an
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Answer:

a) 4.5%

b) 7.5%

c) 9.5%

Explanation:

Given:

USA Inflation rate = 1.0%

T-bills current yield = 1.5%

a) What do you estimate the inflation rate to be in Australia, if short-term Australian government securities yield 5 percent per year?

To find the inflation rate in Australia, use the formula:

RUS - hUs = RFC - hFC

Where,

RUS = T-bills current yield = 1.5% = 0.015

hUs = USA Inflation rate = 1.0% = 0.01

RFC = short-term yield of Australian government securities = 5% = 0.05

Thus,

RUS - hUs = RFC - hFC

0.015 - 0.010 = 0.05 - hFC

0.005 = 0.05 - hFC

Solve for hFC:

hFC = 0.05 - 0.005

hFC = 0.045 = 4.50%

Inflation rate in Australia = 4.50%

b) What do you estimate the inflation rate to be in Canada, if short-term Canadian government securities yield 8 percent per year?

Use the same formula as in part A.

RUS - hUs = RFC - hFC

Here, RFC = 8% = 0.08

Thus,

0.015 - 0.010 = 0.08 - hFC

0.005 = 0.08 - hFC

Solve for hFC

hFC = 0.08 - 0.005

hFC = 0.075 = 7.50%

Inflation rate in Canada = 7.5%

c) What do you estimate the inflation rate to be in Taiwan, if short-term Taiwanese government securities yield 10 percent per year?

Use the same formula as in part A.

RUS - hUs = RFC - hFC

Here, RFC = 10% = 0.1

Thus,

0.015 - 0.010 = 0.10 - hFC

0.005 = 0.10 - hFC

Solve for hFC

hFC = 0.10 - 0.005

hFC = 0.095 = 9.50%

Inflation rate in Taiwan= 9.5%

8 0
3 years ago
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