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seropon [69]
4 years ago
6

Suppose the government implements a negative income tax plan to deal with the poverty problem. The negative income tax rate is s

et at 50%, and the break-even level of income is set at $5,000. The guaranteed annual income level assured each family, regardless of the amount of income earned by the family, is
Business
1 answer:
Andreas93 [3]4 years ago
4 0

Answer:

At least $2,500. If the family's income was $0, then the government will transfer $2,500 to them.

Explanation:

A negative income tax refers to a welfare system where individuals earning below a certain amount, instead of being taxed, receive money transfers from the government.

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3 years ago
Frasquita acquired equipment from the manufacturer on 6/30/2021 and gave a noninterest-bearing note in exchange. Frasquita is ob
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Answer:

$525,000

Explanation:

Calculation to determine what amount would it have recorded the equipment for on 6/30/2021

First step is to calculate the total interest for 10 months;

Based on the information given since the amount of $15,000 was the interest for 6 months in the year 2021 in which the note lasted for 10 months the total interest will be:

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Now let calculate 6/30/2021 Equipment

6/30/2021 Equipment=$550,000-$25,000

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Therefore what amount would it have recorded the equipment for on 6/30/2021 is $525,000

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