Answer:
Dept. Y = $18,200
Dept. Z = $21,800
Explanation:
Wages expense for this question consist of direct wages and indirect wages. The direct wages are allocated to their respective departments while the indirect wages are apportioned between the two departments.
Therefore, first do the allocation then the remainder $24,000 is apportioned equally between the two departments, Dept. Y and Dept. Z.
Dept. Y Dept. Z
<u>Departmental wage expenses :</u>
Direct wages $6,200 $9,800
Indirect wages $12,000 $12,000
Total $18,200 $21,800
Trendsetting? A trend isn't a certain thing in a certain place. It's what a lot of people do that causes a lot of other people to do or act in the same way. Kind of like selfies, almost no one did it then all of a sudden the world went crazy over it.
Answer:
The reimbursement of medical expenses to a taxpayer is not considered as an income or taxable by the IRS.
If the taxpayer had previously deducted the expense and it resulted in tax savings, the reimbursement of a medical expense by insurance would be taxable. More so, there would have been no tax benefit if either the taxpayer had claimed the standard deduction, or if the floor for the medical deduction exceeded the medical expenses.
Answer:
A
Automatic stabilizers
Explanation:
These are necessary adjustments that are dependent on the state of the economy at particular times. An expanding economy is an economy in growth, there is a general feeling of stability and there is the mobility of funds around. Due to the presence and indication of growth, there is an increase in the amount of profits or gains made by the economy in general. Hence, government can decide to task more through tax.
However, in periods when there are indicators of an ailing economy, there should be a downward review of tax and the economy is weak at this state. Using the old taxing scheme during the good economy for now would result in an outcome that might further hurt business owners and push the economy more downwards.
Automatic stabilizers are just the mechanism through which the taxation at different times is adjusted
The answer is c.) because it is talking about savings account s