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4 years ago

Why are revenue tariffs levied?

2 answers:

5 0

Revenue tariff is a duty imposed on imported goods and services in order for a nation to generate public funds. The major reason why this tax is levied is to restrict international trade and improve the consumption level of domestic goods and services. Revenue tariff makes imported goods more expensive compare to domestic goods.

belka [17]4 years ago

3 0

A revenue tariff is a tax applied to increase the revenue(money brought in) of an economy. Usually occurs in business. For example, oil that is imported or exported from the US is a revenue tariff.

You might be interested in

Indentures usually bound indentured servants for periods of from five to seven years. question 3 options:

OLEGan [10]

Hey There!

Here is your answer:

Your answer is: False!

Indentured servants are slaves that are working to pay off debt. Which means indentured servants can work more than 7 years you pay off debt for whatever they own to the person!

Your answer is False!

Hope this helps!

3 0

4 years ago

On January 1, 2019, the Bonds Payable account has a balance of $730,000. On December 31, 2019, the Bonds Payable account has

BigorU [14]

Answer: $99,000

Explanation:

Given the opening Balance of the Bond Payable account as well as the Closing Balance and the bonds that were retired for the year, we can deduce the amount of new bonds issued using the following formula,

Opening Balance + Bonds Issued - Retired bonds = Closing Balance

Making Bonds Issued the subject we have,

Bonds Issued = Closing Balance - Opening Balance + Retired bonds

Bonds issued is therefore,

= 820,000 - 730,000 + 9,000

= $99,000

$99,000 was the Amount of new bonds issued in 2019.

4 0

3 years ago

- In dealing with the U.S. government, the two key responsibilities of the Fed are lending money

Fittoniya [83]

In dealing with the Federal reserve, the key responsibilities of the Fed are lending money to the government and formulating monetary policies.

The federal reserve of the United states is what acts as the central bank of the country. The Feds helps to

Regulate the money supply that is in the country
Regulate the operations of banks
Establish monetary policies.

The board of governors in the banks help to study the current issues that are existent in the economy, then they formulate the adequate policies that would help to take care of the issues.

5 0

3 years ago

Partnership business can't be successful without mutual understanding?

Lyrx [107]

Answer:

yes that's so true,it helps a lot in business

5 0

3 years ago

Barnett Industries, Inc., issued $600,000 of 8% bonds on January 1, 2019. The bonds pay interest semiannually on July 1 and Janu

Vera_Pavlovna [14]

Answer:

1. The selling price of the bonds is $590.976.46

2 .The journal entry for the issuance of the bonds and bond issue costs would be as follows:

Debit Credit

Cash $538,976.26

Discount on bonds payable $39,023.74

Unamortized bonds issue costs $22,000

Bonds Payable $600,000

3. Assuming that Barnett uses IFRS, the journal entry for the issuance of the bonds would be as follows:

Debit Credit

Cash $600,000

Bonds Payable $600,000

Explanation:

In order to calculate the selling price of the bonds we would have to calculate first the present value of particular and present value of interest, hence:

present value of particular=($600,000×0.414643)=$248,785.80

present value of interest=$600,000×4%13.007936=$312,190.46

Therefore, selling price of the bonds=present value of particular+present value of interest

1. Selling price of the bonds=$248,785.80+$312,190.46=$590.976.46

2. The journal entry for the issuance of the bonds and bond issue costs would be as follows:

Debit Credit

Cash $538,976.26

Discount on bonds payable $39,023.74

Unamortized bonds issue costs $22,000

Bonds Payable $600,000

3. Assuming that Barnett uses IFRS, the journal entry for the issuance of the bonds would be as follows:

Debit Credit

Cash $600,000

Bonds Payable $600,000

4 0

4 years ago