The three main sources of federal tax revenue are individual income taxes, payroll taxes, and corporate income taxes. Other sources of tax revenue include excise taxes, the estate tax, and other taxes and fees.
Answer:
35,000
Explanation:
Given:
2018 ending inventory understated = 9,000
2017 ending inventory understated = 14,000
Pretax income = $40,000
Computation:
We know that ending inventory 2017 is opening inventory of 2018 so, we say that Opening inventory of 2018 understated by $14,000.
According to rules, Opening inventory understated, overstated the profit and ending inventory understated, understated the profit.
2018 ending inventory understated will be added into profit and 2017 ending inventory understated will subtract from the profit.
Profit during the year = $40,000 +$9,000 -$14,000
Profit during the year = $35,000
Answer:
Charlotte has the priority to claim Autumn as her dependent even though William covered 70% of her living expenses during the year. In order for a parent to be able to claim a child as a dependent, he/she must live with the child for more than half the year. In this case, since William left the house, Charlotte has preference over claiming Autumn as her dependent (even though William lived with Autumn for 10 months). Also, a parent always has priority over other relatives including a grandparent.
Answer:
Annual depreciation= $51,400
Explanation:
Giving the following information:
Purchase price= $314,000
Salvage value= $57,000
Useful life= 5 years
<u>To calculate the depreciation expense under the straight-line method, we need to use the following formula:</u>
<u />
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (314,000 - 57,000) / 5
Annual depreciation= $51,400
<u />
<u>The depreciation expense is the same every year.</u>
When students who school abroad find out goods which are not in their home countries in their host country, then they would:
- develop start up financing to become importers of that product.
- work with native producers to import the products to their home countries.
<h3>What is Import?</h3>
This refers to the quantity of goods which come into a country from another country mainly because the other country can produce the goods or the goods are cheaper to import.
With this in mind, we can see that if students who attend colleges abroad notice opportunities to import the goods from where they are to their home countries and they would have to develop some start up capital or finance.
Read more about imports here:
brainly.com/question/14274727
