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castortr0y [4]
3 years ago
9

National Geographic is replacing an old printing press with a new one. The old press is being sold for $350,000 and it has a net

book value of $75,000. Assume that National Geographic is in the 40% income tax bracket. How much will National Geographic net from the sale?
Business
1 answer:
kkurt [141]3 years ago
4 0

Answer:

$240,000

Explanation:

National geographic is replacing an old printing machine with a new one

The old printing machine is sold at the price of $350,000

It has a net book value of $75,000

The income tax is 40%

= 40/100

=0.4

The first step is to calculate the taxable value

= $350,000-$75,000

= $275,000

Income tax= taxable value×tax rate

= $275,000×0.4

= $110,000

Therefore, the net from sales can be calculated as follows

= $350,000-$110,000

= $240,000

Hence the net from sale of National Geographic is $240,000

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Taxes on goods with __________ demand curves will tend to raise more tax revenue for the government than taxes on goods with ___
san4es73 [151]

Answer:

Inelastic; elastic

Explanation:

Goods with inelastic demand curves tend to raise more government revenue compared to goods with the elastic demand curve. An increase in price does not affect the demand of inelastic goods and it remains the same, that is why, governments usually increase the prices of goods that have inelastic demand curve, for example, petrol and toll tax, etc.

7 0
2 years ago
A company has a cash balance in their general ledger of "$4,000". On the bank statement they just received they see the followin
Oliga [24]

Current balance in the general ledger cash account is $5,320

Explanation:

                                                      General ledger

Opening balance                                $4,000

(Add)

A note collected by a customer         $1,000

interest collected by a customer            $40

NSF check from a customer                  $300.

                                                           ------------------

                                                              $5,340

(Less) bank service charges                     $20

                                                             ---------------

Balance in the general ledger

cash account is                                      $5,320

current balance in the ledger cash account =

( $4,000+ $1000+ $40+ $300- $20= $5320)

( $4,000+ $1000+ $40+ $300- $20= $5320)

3 0
3 years ago
Sherry, who is 52 years of age, opened a Roth IRA three years ago. She has contributed a total of $13,200 to the Roth IRA ($4,40
Alexxandr [17]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

7 0
3 years ago
American Express has a long history of working for the good of the community. In 1885, it engaged its employees to help raise mo
exis [7]

Answer:

The answer is: E) Social responsibility goals

Explanation:

Corporate social responsibility (CSR) incorporates sustainable development into a company's business model. It should have positive impact on the general public, the environment  and the economy.

By helping restore, preserve and revitalize historical sites in NYC, American Express is creating a positive impact by:

  • helping the people that live in NYC (better buildings or infrastructure)
  • is injecting money into the city´s economy (hiring contractors, buying materials, etc)
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6 0
3 years ago
How much does a social worker make an hour?
Degger [83]
A social worker makes $21.35 a hour.
HOPE THIS HELPS YOU! ^_^
4 0
2 years ago
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