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3 years ago

7

Many states tax cigarette purchases. Suppose that smokers are unhappy about paying the extra charge for their cigarettes. If the

state imposed the tax on the stores that sell the cigarettes rather than on smokers, it will__________.

1 answer:

Llana [10]3 years ago

3 0

Answer: increase sales

Explanation:

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Retained earnings, december 31, 2015 $ 313,700 cost of equipment purchased during 2016 32,000 net loss for the year ended decemb

geniusboy [140]

The retained earnings are affected by the net income or loss or any amount paid to the shareholders as dividends. The retained earnings balance as of December 31, 2016 shall be calculated as follows:

Retained earnings, December 31, 2015 $ 313,700

Less: Net loss for the year ended December 31, 2016 -$4,850

Less: Dividends declared and paid in 2016 -$17,000

Retained earnings, December 31, 2016 $291,850

Hence, the retained earnings balance as of December 31, 2016 is <u>$291,850</u>

3 0

3 years ago

Read 2 more answers

The discounted payback period for a project will be _______ the payback period for the project given a positive, non-zero discou

Zepler [3.9K]

Answer: longer than

Explanation:

The discounted payback period simply refers to the number of years that will be required for the cumulative discounted cash inflows to be able to cover a project's initial investment.

It should be noted that the discounted payback period for a project will be longer than the payback period for the project given a positive, non-zero discount rate. This is because the time value of money will be taken into consideration, hence, this will bring about a longer time.

3 0

3 years ago

Paxton Company can produce a component of its product that incurs the following costs per unit: direct materials, $9.10; direct

Ghella [55]

Answer:

$0 cost or savings per unit

Explanation:

Cost to Buy

Purchase Price $31.40

and,

Costs to Make

Direct materials $9.10

Direct labor $13.10

Variable overhead $2.10

Fixed Overheads $7.10

Total $31.40

therefore

The net incremental cost or savings of buying the component is $0 cost or savings per unit

5 0

3 years ago

Required: Journal entry

lisabon 2012 [21]

Answer:

If a cheque was being issued to settle a account payable, the relevant entry is to debit the accounts payable account to show that the debt is being reduced. You will then credit the cash account to show that cash is being reduced as well because it was used to pay off the debt.

Date Account Title Debit Credit

XX-XX-XXXX Accounts Payable - Saurya Stores Rs. 39,000

Cash Rs. 39,000

7 0

3 years ago

Bob, a salesperson at a Carpets Galore store, tells Dita, a customer, "Buy your carpet here, and I'll install it for half of wha

monitta

Answer:

Duty of Loyalty

Explanation:

The duty of loyalty, described as a duty, is the duty of a person to act in the best interests of their company, which is not to waste when the individual sees corporate opportunities for their personal benefit, avoid personal interest in transactions between the company and other parties, and keep company information private. .
The duty of loyalty that can be seen when Bata engages himself in an interested transaction for the sale of the carpet.

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3 years ago