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4 years ago

In one to two sentences, explain why citizens pay taxes.

1 answer:

7 0

The reason why citizens pay taxes is to help the government pay for their needs. Like teachers, public schools and other resources people need that can’t afford.

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sherry is paid 16.50 during regular hours and 24.75 per hour overtime.she worked 80 hours regular time and 10 hours overtime. ca

White raven [17]

Explanation:
$1320 for regular hours
$247.50 for over time

Answer:$1567.5 total earnings

4 0

3 years ago

Valli Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $700000 and cred

marshall27 [118]

Answer:

Adjusting entry Valli Company will make to record the bad debts expense:

Debit Bad Debts Expense $25,000

Credit Allowance for Doubtful Account $25,000

Explanation:

Valli Company uses the percentage of sales method for recording bad debts expense. Bad debts expense is calculated by using the following formula:

Bad Debts Expense = % Estimated Bad debts × Credit Sales

In Valli, Credit sales are $2,500,000 and % estimated is 1%.

Bad Debts Expense = 1% x $2,500,000 = $25,000

The adjusting entry to record the bad debts expense will be:

Debit Bad Debts Expense $25,000

Credit Allowance for Doubtful Account $25,000

6 0

3 years ago

"you should never buy precooked frozen foods because the price you pay includes the labor costs of preparing food." is this conc

dimulka [17.4K]

<span>For precooked frozen foods, you will always pay for the cost of packaging and the cost to get the chicken, or labor. This conclusion is always valid if you choose to buy the precooked food from the grocery store, where prices will be marked up for profit, as well.</span>

5 0

3 years ago

On January 1, 2017, Ellison Co. issued eight-year bonds with a face value of $6,000,000 and a stated interest rate of 6%, payabl

sergiy2304 [10]

Answer:

Bond Price = $5,300,862.264 rounded off to $5,300,862.26

Explanation:

To calculate the price of the bond today, we will use the formula for the price of the bond. Assuming the bond is an annual bond, the semi coupon payment, number of periods and semi annual YTM will be,

Coupon Payment (C) = 6,000,000 * 0.06 * 6/12 = 180 ,000

Total periods (n) = 8 * 2 = 16

r or YTM = 0.08 * 6/12 = 0.04 or 4%

The formula to calculate the price of the bonds today is attached.

Bond Price = 180000 * [( 1 - (1+0.04)^-16) / 0.04] + 6000000 / (1+0.04)^16

Bond Price = $5,300,862.264 rounded off to $5,300,862.26

8 0

3 years ago

Consider a project that will payoff $2 million if it is successful and nothing if it is not successful. If the probability of su

Paul [167]

do you have to pay this all the bills

8 0

3 years ago