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3 years ago

Does the reserve banks determine tax rates?

1 answer:

4 0

The most straightforward way to calculate effective tax rate is to divide the income tax expenses by the income earned before taxes. For example, if a company earned $100,000 and paid $25,000 in taxes, the effective tax rate<span> is equal to 25,000 / 100,000 or 0.25.

I hope my answer has come to your help. God bless and have a nice day ahead!

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Given the pay rate, hours worked, tax deductions, and social security deduction, determine the gross earnings, workmen's compens

olya-2409 [2.1K]

Answer: assuming Given the pay rate $7.0 and hours worked is 30 hours

Gross earnings = 7 x 30 = $210

Compensation insurance = 2% x $210 = $4.2

state unemployment insurance = 4% x $210 = $8.4

total deductions = 4.2 + 8.4 = $12.6

net pay = 210 - 12.6 = $197.4

Explanation:

Gross earnings = the pay rate x hours worked

Compensation insurance = 2% of gross earnings

unemployment insurance = 4% of gross earnings

total deductions = Compensation insurance+unemployment insurance

net pay = Gross earnings - otal deductions

3 0

3 years ago

Kyra has decided to do her speech on trends in vampire fiction. Her two main points are as follows: (1) Many vampire series have

eduard

Answer:

They are not distinct.

Explanation:

When making a statement that is made up different main points, it is important to seperate them into distinct entities that can be easily identify by the reader.

This eases understanding of the reader and makes the piece more appealing.

In this scenario two main points are as follows: (1) Many vampire series have introduced werewolves into the mix. (2) The Twilight series introduced Jacob, a werewolf, into the series.

This is actually a single point broken into 2. Many vampire series like Twilight series introduced werewolves into the mix.

7 0

3 years ago

Concord Corporation planned to use 1 yard of plastic per unit budgeted at $91 a yard. However, the plastic actually cost $90 per

Greeley [361]

Answer:

Total Material Variance = $10,060 Unfavorable

Explanation:

Provided Information,

Standard budgeted unit of raw material = 1 yard

Standard price per unit = $91.00

Actual price per yard = $91.00

Actual units produced = 4,600

Actual yards of plastic used = 4,660 yards

Standard yards for actual production = 4,600 $\times$ 1 yard = 4,600

Total Material Variance = Standard Cost for actual output - Actual Cost

Standard Cost = 4,600 $\times$ $90 = $414,000

Actual Cost = 4,660 $\times$ $91 = $424,060

Total Material Variance = $414,000 - $424,060 = - $10,060

Since value is negative as actual cost is more than budgeted, the variance is unfavorable.

Final Answer

Total Material Variance = $10,060 Unfavorable

8 0

4 years ago

Ferdinand’s employer will match 50% of his $250 monthly contributions to his 401(k). This means that Ferdinand’s employer will p

irina [24]

Answer and Explanation:

The computation of the given question is shown below:-

Total Contributions = Monthly contribution + Amount invested in Ferdinand’s 401(k)

= $250 + $125

= $375

1. Future Value = PMT [((1 + r)n - 1) ÷ r

Future value = 375 × ((1 + 0.03 ÷ 12) × 12 × 40 - 1) ÷ (0.03 ÷ 12)

= $347,272

2. Ferdinand deposit = Given Amount × Total number of months in a year × Number of years

= $250 × 12 Months × 40 Years

= $120,000

3. The Amount put in by the employer = 50% of $250 ×Total number of months in a year × Number of years

= $125 × 12 Months × 40 Years

= $60,000

4. Interest = Future value - Ferdinand deposit - The Amount put in by the employer

= $347,272 - $120,000 - $60,000

= $167,272

We simply applied the above formulas

4 0

3 years ago

Kurt leased a small building and converted it into a hockey supply shop. He had assumed that he could run a successful business

salantis [7]

Answer:

The correct answer is letter "E": undercapitalization.

Explanation:

Undercapitalization refers to the situation in which an organization is unable to generate enough funds to cover its expenses. This leads to companies being unable to pay their creditors, thus, they have no other option but to request for loans to keep the business up and running. Small companies are frequently undercapitalized.

8 0

4 years ago