Ezmerelda jewelers have a marginal tax rate of 32 percent and an average tax rate of 20.9 percent. if the firm owes $34,330 in taxes,
$164,258 taxable income.
Taxable income = $34,330 / .209 = $164,258.37
There are two main types of taxes: direct taxes and indirect taxes. Both tax implementations are different. Some are paid directly, such as reduced income tax, corporate income tax, and wealth tax, while others are paid indirectly, such as consumption tax, service tax, and consumption tax.
Ensuring federal, state, and local governments function properly and provide the services they need. Individual governments have specific focuses, and overall spending on things like defense and social security is in the hands of the federal government.
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Answer:
Option D. Prepare a trial balance, prepare adjusting entries, prepare financial statements
Explanation:
The accounting cycle sequence is given as under:
- Analyzing the business
- Journalize the Transactions
- Post to Ledger Accounts
- Prepare a Trial Balance
- Posting adjusting entries and Preparing an adjusted trial balance
- Preparing the financial statements
- Journalize and post closing entries
- Prepare a post closing trial balance and financial statement
So we can see that the three steps highlighted above are the sequence shown in the option D. Hence option D is correct.
Answer: Controller
Explanation: Controller refer to the accounting officer of the company whose job is to analyze and interpret the transactions related to accounting and fiance.
The duties of controller include conducting internal audit, updating financial statements, filing tax applications on time etc.
Thus, from the above we can conclude that the correct option is B.
Answer:
Income = $30,000
Explanation
<em>Whenever a company is faced with a limiting factor i.e a resource in short supply, the company should allocate the resource to the product </em><u><em>with he highest contribution per unit of the scare resource</em></u>
Product Cont/unit machine hr /unit cont/hr Ranking
A $8 2 hrs $4/hr 2nd
B $18 3 hrs $6/hr 1st
<em>Hence the company should allocate the resource to the product B</em>
<em>Hence the total contribution</em>
= 5000 hrs × $6 per hr.
= $30,000
Income = $30,000
