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kkurt [141]
3 years ago
10

Ms. BK is a self-employed architect who earns $205,000 annual taxable income. For the past several years, her tax rate on this i

ncome has been 35 percent. Because of recent tax law changes, Ms. BK’s tax rate for next year will decrease to 25 percent. Based on a static forecast, how much less revenue will the government collect from Ms. BK next year? How much less revenue will the government collect from Ms. BK next year if she responds to the rate decrease by working more hours and earning $280,000 taxable income? How much less revenue will the government collect from Ms. BK next year if she responds to the rate decrease by working fewer hours and earning only $180,000 taxable income?
Business
1 answer:
scoray [572]3 years ago
3 0

Answer:

a.- 20,500 less tax collected

b.- 1,750 less tax collected

c.- 26,750 less tax collected

Explanation:

<u>under a static forecast:</u>

205,000 x (0.35-0.25) = 205,000 x 0.1 = 20,500

The government will collect 20,500 less dollars from Ms BK's

<u>under a flexible forecast:</u>

205,000 x 35% - 280,000 x 25% = 71,750 - 70,000 = 1,750

It will loss tax revenue for $1,750

205,000 x 35% - 180,000 x 25% = 71,750 - 45,000 = 26,750

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Answer:

a. Debit to raw material inventory for $12,750, debit to material price variance $750 and credit to account payable for $13,500.

Explanation:

Date  Journal Entry                                   Debit      Credit

         Raw Material Inventory                   $12,750

         Material Price Variance                   $750

               Accounts Payable                                     $13,500

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Last year, 46% of business owners gave a holiday gift to their employees. A
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Answer:

a. 15

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p_v =P(Z<-3.263)= 0.000551

Explanation:

a. 25% of 60 businesses surveyed=

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3 years ago
John Montgomery Ward founded the first baseball players union to fight what practice(s) by baseball team owners? A. Salary caps
cestrela7 [59]

Answer:

D. All of these are correct

Explanation:

John ohn Montgomery Ward was a first sports player who is a professional and baseball league.

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8 0
3 years ago
The benefit of the beautification initiative, as suggested by the survey, is. Because the estimated benefit isless than the cost
OverLord2011 [107]

Answer:

A local college is deciding whether to conduct a campus beautification initiative that would involve various projects, such as planting trees and remodeling buildings, to make the campus more aesthetically pleasing. Thus, the visual appearance would For the students of the college, the visual appearance of the campus is (non-rival/rival) and (non-excludable/excludable). Thus, the visual appearance would be classified as a public good.

Suppose the college administrators estimate that the beautification initiative will cost $4,400. To decide whether the initiative should be undertaken, administrators conduct a survey of the college's 300 students, asking each of them their willingness-to-pay for the beautification project. The average willingness-to-pay, as revealed by the survey, is $11.

The benefit of the beatification initiative, as suggested by the survey, is $3,300. Because the estimated benefit is (<u>less</u>/greater) than the cost, the college administrators (should/<u>should not</u>) undertake the beautification initiative.

Explanation:

A non-rival good or service is one whose benefit is not reduced by a person's consumption and does not prevent another user from enjoying its benefit.

When a good/service is non-excludable, it is impossible to prevent non paying users from enjoying its benefit. The beautification initiative being non rival and non-excludable can therefore be seen as a public good.

The benefit of the initiative = 300 students X $11

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