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GrogVix [38]
3 years ago
8

Tim earns income of $60,000 per year and pays $21,000 per year in taxes. Tim paid 20 percent in taxes on the first $30,000 he ea

rned. What was the marginal tax rate on the second $30,000 he earned?
a. 20 percent
b. 30 percent
c. 50 percent
d. 70 percent
Business
1 answer:
svetoff [14.1K]3 years ago
7 0

Answer:

c. 50 percent

Explanation:

The amount of tax to paid by Tim on the second income he earned during the year shall be calculated as follow:

Amount of tax on 2nd income=21,000-(20%*30,000)

                                                  =21,000- 6,000

                                                  =$15,000

Marginal tax rate on 2nd income=Amount of tax on 2nd income/2nd income earned during year

Marginal tax rate=15,000/30,000=50%

So the answer is c. 50 percent

                                 

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Next year, Celebrity wishes to increase the unit selling price to $110. Shipping will change to 2.5% of sales. Cost of goods sol
RSB [31]

Answer:

net income increased by $1,537.50

Explanation:

Obviously, the original income statement is missing, so I looked for a similar question:

sales revenue                                 $16,500

COGS                                              <u>($9,300)</u>

Gross profit                                      $7,200

Operating exp.:

  • Administrative $950
  • Depreciation $1,300
  • Shipping $412.50             <u>($2,662.50)</u>

Net income                                 $4,537.50

net income increased by $4,537.50 - $3,000 = $1,537.50

8 0
3 years ago
10
SCORPION-xisa [38]

Answer:

I want to say c cause it's 40 but then again I don't know

6 0
3 years ago
Mill Co.'s trial balance included the following account balances at December 31, Year 6:
o-na [289]

Answer:

D) $45,000

Explanation:

The computation of the amount which is included in the current liability section is shown below:

= Account payable balance + bonds payable -  discount on bonds payable + dividend payable

= $15,000 + $25,000 -  $3,000 + $8,000

= $45,000

The current liability is that liability which is arise for one year. Since, the notes payable is a long term liabilities so we do not consider in the computation part.

4 0
3 years ago
Jeremy is an effective leader who is capable of helping his subordinates complete their tasks. However, he is considered intimid
never [62]

Answer:

Fiedler's contingency theory of leadership effectiveness.

Explanation:

Fiedler's contingency theory of leadership effectiveness states that one's effectiveness as a leader is determined by how leadership can match the situation at hand.

There is no single best way to lead, but leadership style is determined by the situation.

According to Fiedler's contingency theory of leadership effectiveness, leadership style is fixed and leaders will need to be put into situations that best matches their style.

The two important factors to consider in thos theory are leadership style and situational favourableness.

6 0
3 years ago
Fervana Autos Inc., a large automobile company, made an initial small investment in a startup company that was developing a sola
eimsori [14]

Answer:

real options perspective

Explanation:

A real options perspective means that the investor has the right but not the obligation to invest in the other company, and/or has the right to buy it, but it is not required to do so. In this case, Fervana can invest if it considers it suitable or it can buy the start-up, buit it doesn't need to do anything if it doesn't want to.

5 0
3 years ago
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