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amm1812
3 years ago
8

When the share of individual income tax collected by the government from people with higher incomes is smaller than the share of

tax collected from people with lower incomes, then the tax is ____________________. optional proportional progressive regressive
Business
1 answer:
Fynjy0 [20]3 years ago
5 0

Answer:

Regressive tax

Explanation:

This is an example of a regressive tax because the regressive tax is those tax that impacts more on the lower-income groups as compared to the higher income. While the progressive taxes are imposed on the basis of the income that means higher the income, higher the taxes. Secondly, the proportional taxes are a flat tax that remains flat irrespective of the income. While in the case of optional tax, there are some rebates or benefits is given to a certain income group of people. Therefore, from all the given options, the option regressive tax is correct.

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Adrian Corp. sells goods on account for $100,000 on May 1. On May 15, the customer returns $40,000 of the merchandise. The custo
ololo11 [35]

Answer:

C. DEBIT TO SALES RETURNS

D. CREDIT TO ACCOUNTS RECEIVABLE

Explanation:

The journal entry to record the May 15 transaction is shown below:

Sales return and allowance A/c Dr $40,000

                     To Accounts receivable $40,000

(Being sales return is recorded)

For recording the given transaction we debited the sales return and credited the account receivable. Both are recorded for $40,000

5 0
2 years ago
Metaline Corp. uses the weighted average method for inventory costs and had the following information available for the year. Th
Archy [21]

Answer:

Total equivalent units= 4,190

Explanation:

Giving the following information:

Beginning Work in Process (30% complete, $1,600) 250 units

Ending inventory of Work in Process (70% complete) 450 units

Total units started during the year 3,700 units

<u>We need to calculate the number of units completed and transferred out.</u>

Beginning work in process= 250*0.7= 175

Units started and completed= 3,700

Ending work in process equivalent units= 450*0.7= 315

Total equivalent units= 4,190

4 0
3 years ago
Do you believe your country would be more or less safe if every adult owned a gun?
Ulleksa [173]
I think the answer is depend on it family but for me its will become less safe because they have the children
4 0
3 years ago
Link Company uses a process cost system and the weighted average method. During the year the company completed 1,300 units of pr
Bumek [7]

Answer:

Cost per equivalent unit: $60

Explanation:

Cost per equivalent unit = (Cost of Beginning Work in Progress Inventory + Total production cost during the period) / Equivalent Units of Production (EUP)

Total Production Cost = $90,000

Equivalent Units of production (EUP) = 1,300 + 400 x 50% = 1,500 units

Cost per equivalent unit: $90,000 / 1,500 units = $60

7 0
3 years ago
Which recommendation would be most suitable for a 40-year old client whose main objective is retirement income and preservation
melisa1 [442]

Answer:

Fixed deferred annuity

Explanation:

Fixed deferred annuity is a form of saving investment where interest is paid on the invested amount at a rate set by the investment company and defined in the contract , and the interest can be deferred into the future till a withdrawal is made from the annuity contract.

Taxes are not paid but deferred until withdrawal which allows the opportunity to  control when to pay taxes , a good investment sense for long term investment.

This makes it a good investment for a risk adverse investor who will not require investment income until later years but its main goal is retirement income and preservation of capital.

5 0
3 years ago
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