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Inessa [10]
2 years ago
9

tina is the sole owner of tina's lawn mowing, incorporated (TLM). In one year TLM collects $1,000,000 from customers to mow thei

r lawns. TLM equipment depreciates in value by $125,000. TLM pays $600,000 to its workers who pay $140,000 in taxes on this income. TLM pays $50,000 in corporate income taxes and pays Tina a dividend of $150,000. Tina pays taxes of $60,000 on this dividend income. TLM retains $75,000 of earnings in the business to finance future expansion. How much does this economic activity contribute to each of the following
Business
1 answer:
Arisa [49]2 years ago
4 0

Answer: See explanation

Explanation:

This is the remainder of the question:

How much does this economic activity contribute to GDP, NNP, National income, compensation of employees, Proprietors' Income, corporate profits, personal income, disposable personal income?

a. GDP – $1,000,000

The GDP is the value for the goods and services that a country sells. To loan customers lawns, Tina collects $1,000,000.

b. NNP – $875,000

NNP = GDP - Depreciation

= $1000000 - $125000

= $875000

c. National income – $875,000

d. Compensation of employees- $600,000

This is the amount paid by the company to its workers for work done as wages and salaries.

e. Proprietors’ income – $0

Because it is a Corporation, this will be $0.

f. Corporate profits – $275,000

This will be:

= $50,000 + $150,000 + $75000

= $275000

g. Personal income – $750,000

= NNP + Dividend - Profit

= $875000 + $150000 - $275000

= $750000

h. Disposable personal income – $550000

= $750000 - $60000 - $140000

= $550000

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Answer:

Please see below for all the journal entries required for Houston.

Explanation:

2017

Jan. 9

Debit: Computer Equipment $9,000

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Credit: Notes Payable $9,000

Jan. 29

Debit: Accounts Receivables ($69,000 x 3/4) $51,750

Debit: Cash ($69,000 x 1/4) $17,250

Credit: Sales Tax Payable ($69,000 x 6%) $4,140

Credit: Sales $69,000

Feb. 5

Debit: Sales Tax Payable $4,140

Credit: Cash $4,140

Jul. 9

Debit: Interest Payable ($9,000 x 7%) $630

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Aug. 31

Debit: Inventory $3,000

Debit: Interest Expense $330

Credit: Interest Payable ($3,000 x 11%) $330

Credit: Notes Payable $3,000

Dec. 31

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Credit: Accrued Warranty $18,030

Dec. 31

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2018

Feb. 28

Debit: Accrued Interest $330

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4 0
3 years ago
A person who ensures that people adhere to the definitions for the master data in their organizational units is called a(n) ____
pashok25 [27]

Answer:Data steward

Explanation:

8 0
2 years ago
The motive of an intimate homicide is almost always anger/revenge or profit. True or False?
tester [92]

Answer: True

Explanation: An intimate homicide is a fatally violent attacked caused by someone who is in a deeply personal relationship with the victim. It is important to note that this can be a current relationship or a past one. The main motives of this type of murder are usually because of anger for whatever they feel the victim has done or made them feel, as revenge on the victim because they believe the victim has wronged them, or for some form of profitable gains such as claiming the victim's life insurance.

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3 years ago
Sarah buys 500 shares of stock at $18 and sells the holding for a capital gain of $3,000. What was the share price at the time o
djverab [1.8K]

Answer:

$24

Explanation:

500 * 18 = $9000 worth of stock initially.

She sells with a $3000 gain, which means the value of the stock is $12000

12000/500 = $24

7 0
3 years ago
Select the correct answer from each drop-down menu.
OverLord2011 [107]

Answer:

A personal budget provides <u>a detailed account</u> of income and expenses for a <u>period.</u>

Explanation:

A personal budget is a plan of how one intends to spend their income.  It shows the source of income and the total on one side. The expenses are listed on a different side. Each expenditure item is listed and its estimated amount is indicated. The total of all incomes and expenses is shown on their respective sides.

A personal budget may be prepared for a regular income say monthly, weekly, or quarterly payments. It can also be prepared for irregular incomes such as loans, gifts, or bonuses.

7 0
3 years ago
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