Answer:
regressive
Explanation:
A regressive tax is basically a tax whose rate increases as your income decreases. Generally you do not need to increase the marginal tax rate of lower income levels, all you need to do is have a flat tax that taxes everyone with the same amount. E.g. everyone pays $2,000 as income taxes. $2,000 per person represents 10% of the first household's income, but it only represents 2.7% of the fourth household's income.
On the other hand, progressive taxes increase as the income level of the taxpayers increases.
Answer:
True
Explanation:
If there is no-par stock is issued, the entire proceeds are credited to Capital Stock. Also, the amount we get in for this capital amount can not be legally withdrawn for any purposes. It also reduces any responsibility faced from payable by the issuance of no face value. The journal entry will be as follows:
Cash Debit
Common stock Credit
Answer:
The boat today is worth 100,440 dollars
Explanation:
We need to solve for the present value of the payment Fishermen's Corp will receive for the boat:
We will apply the formula for lump sum to each 
cash flow and then add them together
Year Nominal Present Value
1 20000 18, 518
2 40000 34,293
3 60000 47,630
TOTAL 100,441
Answer:
$900
Explanation:
As $1,000 is deposited in the account by Mr. Y in the Bank A. But the further requirement of the reserve is 0.10. So, it will amounts to:
Amount of reserve requirement = Amount deposited × Requirement of reserve
where
Amount deposited is $1,000
Requirement of reserve is 0.10
= $1,000 × 0.10
= $100
Therefore, the initial amount of the money that created by excess reserve is:
= Amount deposited - Amount of reserve requirement
= $1,000 - $100
= $900
Answer:
$3,330 unfavorable
Explanation:
Material price variance is the difference between the standard price and actual price at the actual quantity. It could be due to the changes in the prices as expected.
Actual cost per unit = Total cost / Material Purchases = $77,600 / 4,000 meter =
Formula for Material price variance is
Material Price Variance = ( Standard price - Actual price ) x Actual Quantity
Material Price Variance = ( $18.5 - $19.4 ) x 3,700
Material Price Variance = --$0.9 x 3,700
Material Price Variance = --$3,330 = $3,330 unfavorable
As the actual cost is more than the estimated / budgeted cost, the higher cost incurred means higher expenditure which is unfavorable for the company.
