Answer:
Proportional Tax
Explanation:
A proportional tax imposes the same flat rate (in %) on income as payable tax.
Other types of taxes are Progressive and Regressive Tax. In progressive, the higher you earn, the higher tax you pay while in Regressive, the higher you earn, the lower income tax paid and vice versa.
Answer:
The journal entry should be:
Dr Merchandise Inventory account 50,000
Cr Retained Earnings account 50,000
Explanation:
Since Oscar's merchandise inventory was understated by $50,000 because of the previous inventory method (LIFO), when the new method, FIFO, starts to be used then the merchandise inventory must increase by $50,000 as well as retained earnings.
Merchandise inventory is an asset account and it increases, therefore it should be debited.
Retained earnings is an equity account and it increases, therefore it should be credited.
<h2>Information and Intelligence management is being demonstrated</h2>
Explanation:
Information and Intelligence Management is all about managing incident-related information. This is done by forming a process to gather, share and manage information.
Information and intelligence management enable us to understand the data better. This makes the data simplified. In simple term we can say that a machine with embedded intelligence which is carrying out task with the data provided.
There are wide range of intelligence system which includes Artificial intelligence, natural language processing, wireless networking, cyber security and many more.
Answer:
$53,000
Explanation:
Data given in the question
Beginning Accounts Receivable = $26,000
Credit Sales = $130,000
Collections of credit sales = $87,000
Write-offs = $16,000
So
As we know that
Ending Accounts Receivable = Beginning Accounts Receivable + Credit Sales - Collections of credit sales - Write-offs
= $26,000 + $130,000 - $87,000 - $16,000
= $53,000
Answer:
Mark will have 125,420.81
Mark will earn interest for 420.81
Explanation:
If you start with 125,000.00 in a savings account earning a 5.5% interest rate, compounded Daily, after 22 Days your savings account will have grown to 125,420.81 of which 125,000.00 is the total of your beginning balance plus deposits, and 420.81 is the total interest earnings.
