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ivann1987 [24]
3 years ago
7

Midland City has a proposed budget of $7,000,000 for the new fiscal year. The city's market value is $100,000,000 and the city e

xpects to receive state aid of $100 per capita based on its most recent census population of 15,000; it has no other revenue sources. The classification ratio is 25% for all properties. The tax rate per $100 of assessed value would
Business
1 answer:
Cerrena [4.2K]3 years ago
7 0

Answer:

5.5%

Explanation:

The revenue that will be generated from state aid is $1,500,000 ($100 * 15,000).

Revenue from Property Tax = $7,000,000 - $1,500,000 = $5,500,000

Now we can calculate the tax by using the following formula:

Tax rate = Revenue from property tax / Market Value of City

Tax rate = $5,500,000 / $100,000,000 * 100 = 5.5%

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What are the signs and symptoms of mumps?​
svet-max [94.6K]

Answer:

The primary sign of mumps is swollen salivary glands that cause the cheeks to puff out. Other signs and symptoms may include:

Pain in the swollen salivary glands on one or both sides of your face

Pain while chewing or swallowing

Fever

Headache

Muscle aches

Weakness and fatigue

Loss of appetite

3 0
3 years ago
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Appropriation to retained earning is
jenyasd209 [6]
Are the sum of a company's profits, after dividendpayments, since the company's inception. They are also called earned surplus, retained capital, or accumulated earnings.

(EXAMPLE):

Let's assume Company XYZ has been around for five years. During this time, it reported the following net income:

Year 1: $10,000
Year 2: $5,000
Year 3: -$5,000
Year 4: $1,000
Year 5: -$3,000

Assuming Company XYZ paid no dividends during this time, XYZ's retained earnings equal the sum of its net profits since inception, or in this case, $8,000. In subsequent years, XYZ's retained earnings will change by the amount of each year's net income, less dividends.

The retained earnings statement summarizes changes in retained earnings for a fiscal period, and total retained earnings appear in the shareholders' equity portion of thebalance sheet. This means that every dollar of retained earnings means another dollar of shareholders' equity ornet worth.

A company's board of directors may apprompany's retained earnings when it want to restrict dividend distributions to shareholders. Appropriations are usually done at the board's discretion, although bondholders and other circumstances may contractually require the board to do so. Appropriations appear as a special account in the retained earnings section. When an appropriation is no longer needed, it is transferred back to retained earnings. Because retained earnings are not cash, a company mayfund appropriations by setting aside cash or marketable securities for the projects indicated in the appropriation.

Why its important

It is important to understand that retained earnings do not represent surplus cash or cash left over after the payment of dividends. Rather, retained earnings demonstrate what a company did with its profits.

3 0
4 years ago
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Tucker Electronic System's current balance sheet shows total common equity of $3,125,000. The company has 100,000 shares of stoc
ELEN [110]

Answer:

$27.50

Explanation:

4 0
3 years ago
Katherine gives piano lessons for $15 per hour. She also grows flowers, which she arranges and sells at the local farmer's marke
katrin2010 [14]

Answer:

The accounting profits are $100, and the economic profits are $25

The option C. is correct

Explanation:

Accounting profit: The accounting profit is computed by subtracting the sales amount with the expenses.

In mathematically,

Accounting profit = Sales revenue - expenses

                             = $150 - $50

                             = $100

In this, the expense is the seeds cost

And, the economic profit is calculated by subtracting the accounting profit with the implicit cost

In mathematically,

Economic profit = Accounting profit - implicit cost

                          = $100 - $75

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The implicit cost is computed by

= Per hour piano charges × number of hours

= $15 × 5

= $75

Hence, the accounting profits are $100, and the economic profits are $25

7 0
3 years ago
Explain the four characteristics of a mineral?
vivado [14]
The 4 Major characteristics of a mineral are:
1. It is formed  by natural processes, not man-made.
2. It is inorganic, it's not alive, it will never be.
3. It is a crystalline solid, a definite volume and shape with a repeating structure.
4. It can be an element or compound with a definite chemical composition, made the same each time with and orderly arrangement of atoms. 
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3 years ago
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