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Maslowich
3 years ago
6

We see quite a bit of international trade in the real world. And trade is driven by specialization. So why don’t we see full spe

cialization—for instance, all cars ion the world being made in South Korea, or all mobile phones in the world being made in China?
Choose the best answer from the following choices:
a. More efficient allocation of resources
b. A higher level of material well being
c. Gains from specialization
d. Promoting competition
e. Deterring monopoly
f. Reducing the threat of war
Business
1 answer:
Alenkasestr [34]3 years ago
4 0

Answer:

e. Deterring monopoly

Explanation:

Based on the information provided within the question it can be said that the best choice would be that it is deterring monopoly. Monopolies refer to having full control of an industry and being the the only supplier or producer of a certain good. This is always bad because monopoly's are able to set whatever price they want on their products because there is no competition to steal away customers.

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Lee Financial Services pays employees monthly. Payroll information is listed below for January 2018, the first month of Lee's fi
solniwko [45]

Answer and Explanation:

1. The computation is shown below:

As we know that employee taxes involved the social security tax, medicare tax and the income tax

Social security tax

= Gross pay × 6.2%

= $470,000 × 6.2%

= $29,140

Medicare tax

= Gross pay × 1.45%

= $470,000 × 1.45%

= $6,815

And,

Income tax withheld = $94,000

Now payroll taxes involved social security tax, Medicare tax, Federal unemployment tax, and state unemployment tax.

Social security tax

= Gross pay × 6.2%

= $470,000 × 6.2%

= $29,140

Medicare tax

= Gross pay × 1.45%

= $470,000 × 1.45%

= $6,815

Federal unemployment tax is

= Gross pay × 0.6%

= $470,000 × 0.6%

= $2,820

State unemployment tax

= Gross pay × 5.40%

= $470,000 × 5.40%

= $25,380

2. Now the journal entries are

On January, 2018

Salaries wages expense  $470,000

       To Withholding income tax payable  $94,000

       To Social security tax payable  $29,140

       To Medicare tax payable $6,815

       to Salaries and wages payable $340,045

(being salaries and wages expense is recorded)

On Jan 2018

Payroll tax expense  $64,155

      To Social security tax payable $29,140

      To Medicare tax payable $6,815

      To Federal unemployment tax payable $2,820

      To State unemployment tax payable $25,380

(being tax liabilities is recorded)  

 

 

8 0
2 years ago
Assume Company X had an 80,000 EBITDA in 2019 and its EBITDA is expected to grow by 4% per year. The company has no excess cash
yan [13]

<u>Solution and Explanation:</u>

1….                                            2019  2020  2021 2022

EBITDA                              80000  83200  86528  89989

EBITDA Multiple                            14     14               14  14

Enterprise or Total Value

= EBITDA*Multiple             1120000  1164800  1211392  1259848    

2012 Enterprise/Total Value =  1259848

2…Next year's expected gross margin

<u>Alternative :1 </u>

Gross Margin= (200000 * 1.05) * 30 \%=63000

<u>Alternative :2 </u>

Gross Margin= (200000 * 1.01) * 33.3 \%=67266

Alternative 2 is recommended   as there Increase in price is 1% . But increase in gross margin is 3.3%

Next year’s expected gross margin in dollars in each case

Alternative :1------------ 63000

Alternative :2------------67266

 

3 0
3 years ago
Many fast-food restaurant chains like McDonald's will occasionally discontinue restaurants. What are some financial and non-fina
zloy xaker [14]

Answer:

Big chain restaurant industry is a profitable industry with many players to compete. It is facing slow growth in terms of increase of profits and thus most players are looking for international expansion. The domestic consumers have drifted away from the fast food restaurants and they are looking for variety and healthy options for eating out. The profit margins have been low as compared to the fine dining restaurant and thus they depend upon volume of sales rather than value of sales for making profits . There is an increased competition from many international cuisines especially Mexican and Chinese along with...

Explanation:

3 0
2 years ago
The goal of libertarianism is to
Nutka1998 [239]

Answer:

c. punish crimes and enforce voluntary agreements but not to redistribute income.

Explanation:

Robert Nozick's full statement is "Government should punish crimes and enforce voluntary agreements but not redistribute income".

Libertarianism seeks "liberty". Off course their view of liberty only includes the good parts of liberty and government; government has to provide safety and security to the population but virtually nothing else. All the rest of any government's usual tasks are considered an invasion of privacy and the rights of individuals, e.g. no public education, no public health, no public services, only taxes that cover security related expenses, etc.

8 0
3 years ago
Apply the tax benefit rule to determine the amount of the state income tax refund included in gross income in 2020.
victus00 [196]

Solution :

a). The itemized deduction is given = $25,100

The standard deduction is = $24,400

The state income tax which needs to be added in year 2020 is the difference between the itemized deduction and the standard deduction, i.e.,

= $25,100 - $24,400

= $700

As per the tax benefit rule, the amount of 700 dollar will be included in the gross income of the year 2020.

b). In this case, the income tax of the State is higher as compared to the standard deduction in the year 2019. So here the answer is zero.

5 0
2 years ago
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