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kati45 [8]
3 years ago
15

There is an income tax on the planet Bozone. Both annual income, x , and income tax, T ( x ) , are measured in the local currenc

y, the Bozat ( B η ). If the annual income x < 1000 , then the income tax is 10% of the income: T ( x ) = 0.10 x . If annual income x ≥ 1000 , then the income tax is 15% of the income: T ( x ) = 0.15 x . a. The equation for the income tax on income between B η 0 and B η 1000 is of the form T ( x ) = m x + b . Find the values of m and b .

Business
1 answer:
marissa [1.9K]3 years ago
4 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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The Massoud Consulting Group reported net income of $1,376,000 for its fiscal year ended December 31, 2021. In addition, during
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Answer:

Statement of Comprehensive Income for 2021;

Net Income = $1,376,000

Other Comprehensive income (loss):-

Foreign Currency Translation Gain (Net of Tax):

= $350,000 - 25% of $350,000

= $350,000 - $87,500

= $262,500

Unrealized losses on investment securities (Net of tax):

= $90,000 - 25% of $90,000

= $90,000 - $22,500

= ($67,500)

Total other Comprehensive income:

= Foreign Currency Translation Gain (Net of Tax) + Unrealized losses on investment securities (Net of tax)

= $262,500 + ($67,500)

= $262,500 - $67,500

= $195,000

Comprehensive Income = Net Income + Total other Comprehensive income

                                        =  $1,376,000 + $195,000

                                        = $1,571,000

8 0
3 years ago
The balance of the revenue account is transferred to the
miv72 [106K]
Credit side of a the balance of revenue account is transferred
6 0
3 years ago
The city of New Orleans has 200 advertising companies, 199 of which employ designers of normal ability at a salary of $100,000 a
zepelin [54]

Answer:

a. $700,000

b. 6/7 or 85.7%

c. No they will not.

Explanation:

a. Jacobs will earn the normal salary that the other designers in the other companies are getting in addition to the incremental income he brings to the company as a result of his talents.

Incremental income = Revenue with Jacobs - Revenue without Jacobs

= 1,000,000 - 400,000

= $600,000

Jacobs earnings = Normal designer earnings + incremental income

= 100,000 + 600,000

= $700,000

b. Economic rent is the excess amount that the company is paying Jacobs over what it should normally cost to get a designer.

Normal cost of designer is $100,000. Company is therefore paying an economic rent of $600,000.

Proportion of Jacobs salary that is economic rent = \frac{Economic rent}{Jacobs annual earning}

= \frac{600,000}{700,000}

= 6/7 or 85.7%

c. The company hiring Jacobs will not be making an economic profit because for them to make an economic profit they would have to be making more than the $400,000 that the other firms make. They cannot make this amount because for them to do so they would have to reduce the amount they pay Jacobs. If they do so, Jacobs would leave for greener pastures and then they would be making the same $400,000 that the rest are making.

8 0
3 years ago
The Boxwood Company sells blankets for $ 32.00 each. The following was taken from the inventory records during May. The company
nika2105 [10]

Answer:

(C) $94.00

Explanation:

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= Remaining units × cost price + remaining units × cost price

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The 4 units come from May 1 and May 10 i.e 9 units - 5 units = 4 units

And on May 20, the 6 units were sold out of which 4 units were sold at price of $15 and rest 2 units were sold at a price of $17

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In the northern colonies, cities sprang up
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The answer is C I hope this helps you
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