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Butoxors [25]
3 years ago
6

Imagine that you earned $8,425 in one year. If the government enforces a 15% income tax, how much money would you owe in taxes a

t the end of the year? Show your work. (5 points)
Business
1 answer:
wlad13 [49]3 years ago
4 0

Answer:

$1, 263. 75

Explanation:

If annual income is  $8,425 and the tax rate is 15%,

Annual Tax would be 15% of $8,425

=15/100 x $ 8425

=0.15 x 8, 425

=$1, 263.75

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Factors of production, such as physical capital, human capital, and technological knowledge, are crucial to economic growth. The
joja [24]

Answer:

A. Competitive and open markets.

C. A dependable legal system.

D. Political stability.

Explanation:

A Competitive and open Market ensures that people have enough incentives to invest in the development of factors of production because it rewards that investment with a healthy return. In a Competitive market, unfair competition will not be present therefore people will get equal opportunities to make returns.

A dependable Legal System and Political Stability go hand in hand to ensure that investors will have enough faith in the system to want to invest in Factors of Production. If a country is stable politically and abides by the rule of law, an investor will be assured that when they invest, these investments will be protected by the powers that be and their returns will not be impacted by political upheavals and breaches of contract that cannot be rectified.

4 0
3 years ago
On October 1, Kelly Company received $25,500 for six months of rent, in advance. Kelly credited Rent Revenue, which is an altern
Nikitich [7]

Answer: The effect will be that the results will be distorted by registering a gain in the incorrect period, since 3 months correspond to the current year, from October-December and the rest corresponds from January-March of the following year.

The correct way to record these 3 months is as a liability (deferred income) when the income is realized they are taken to the income statement.

7 0
3 years ago
Carmichael Company is considering purchasing a piece of equipment for $60,000. It expects the equipment will last 12 years (and
nalin [4]

Answer:

Initial outlay = $60,000

Annual net income before tax = $7,200 per annum

Depreciation = <u>Cost - Residual value</u>

                        Estimated useful life

                      = <u>$60,000 - 0</u>

                           12 years

                     = $5,000 per annum

Annual net cashflow before tax

= Annual net income before tax + Depreciation

= $7,200 + $5,000

= $12,200

Explanation:

In this case, the annual net income before tax has been given. The annual net income before tax has excluded depreciation, which does not involve movement of cash. Therefore, we need to add back depreciation in order to obtain the expected before tax cashflow.

4 0
4 years ago
A(n) ________ is defined as a distinct unit within a brand or product line distinguishable by size, price, appearance, or some o
PSYCHO15rus [73]

Answer:

The correct answer is stockkeeping unit.

Explanation:

In the field of inventory management, an inventory maintenance unit or SKU refers to a specific item stored in a certain place. The SKU is considered the most disaggregated level when talking about inventory. It is assumed that the units stored in the same SKU are indistinguishable. The introduction of the SKU concept simplifies most inventory control operations. SKUs are sometimes used to designate intangible items, as guarantees; however, in this article we will focus on SKUs that designate tangible items.

8 0
3 years ago
The ______ requires that if a new employee had group health insurance at a previous employer and the new employer has healthcare
IRINA_888 [86]

Answer:

The correct answer is C. Consolidated Omnibus Budget Reconciliation Act.

Explanation:

COBRA stands for the Consolidated Omnibus Budget Reconciliation Act. This law guarantees employees the right to make payments for group medical insurance in order to maintain the insurance they would otherwise lose after:

- The reduction of your work hours.

- Leave the job.

- Job loss

Most people can keep insurance for up to 18 months. Some people may be able to keep it for a few months longer than that.

4 0
3 years ago
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