Answer: Most tax breaks reduce taxable income, but reducing taxable income below zero does not reduce the tax bill.
Explanation:
Tax breaks can be used to reduce your taxable income sometimes all the way to zero. This however simply means that you don't have to pay income tax but does not mean that there won't be other taxes to pay.
Because of these additional taxes left to pay, a person will still pay certain taxes even if their taxable income is below zero. Tax expenditures therefore do not help much with a federal tax bill of zero.
Based on the sales revenue that the ice cream manufacturer got and the cost of goods sold, the total gross profit on ice cream sales is $300,000.
<h3>How is the total gross profit calculated?</h3>
This can be found as:
= Sales revenue - Cost of goods sold
Sales revenue:
= 200,000 x 4.70
= $940,000
Cost of goods sold:
= Total production cost / Total units produced x Units sold
= 665,600 / 208,000 x 200,000
= $640,000
Gross profit:
= 940,000 - 640,000
= $300,000
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Answer:
A. True
Explanation:
It can hop on the trend to seem appealing. Ex: in the early 2000s, crop tops where a trend, so businesses where all making shirts that are crop tops so people would buy them.
Answer: Investment in human capital
Explanation:
The investment in human capital is one of the important element in the economical concept as it helps in developing the growth and productivity of an economy and also expanding the various types of skills, ideas and knowledge.
The human capital is one of the type of intangible asset in an organization that helps in analyzing the economic value on the basis of the employees skills and ability.
According to the given question, the investment in human capital is one of the long run growth in the economy. Therefore, Human investment capital is the correct answer.
Answer:
See below
Explanation:
10000-1000=9000 to be depreciated
9000/5=1800 annual depreciation
journal entry:
depreciation expense. 1800 (debit)
Accumulated depreciation. 1800 (credit)
to record annual depreciation
