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Anna71 [15]
3 years ago
7

Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 50,000 bottles of wine were sold every

week at a price of $5 per bottle. After the tax, 44,000 bottles of wine are sold every week; consumers pay $6 per bottle (including the tax), and producers receive $2 per bottle. The amount of the tax on a bottle of wine is $ per bottle. Of this amount, the burden that falls on consumers is $ per bottle, and the burden that falls on producers is $ per bottle. True or False: The effect of the tax on the quantity sold would have been larger if
Business
1 answer:
grigory [225]3 years ago
6 0

Answer:

$4

$1 and $3

False

Explanation:

As per the data given in the question,

a)

Amount of tax for each bottle is $4 because the sellers are receiving $2 and buyers are paying $6. Therefore,

Amount of the tax on a bottle of wine is $6 - $2 = $4

b)

Burden on the consumer = $6 - $5

= $1

Burden on the seller = $4 - $1

= $3

c)

False, because the tax incidence depends on the flexibility or elasticity  of market.

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On January 1 of the current year, Tell Co. leased equipment from Swill Co. under a 9-year sales-type (finance) lease. The equipm
Salsk061 [2.6K]

Answer:

The yearly depreciation on the asset is $56,111.11

Explanation:

In calculating the right-of-use asset on a lease,the present of value of future cash payments,that is lease liability amount is added to any lease payments paid on or before commencement of lease agreement,direct initial costs,as well as with any likely amount to be incurred in restoring asset's site or dismantling the asset after usage.

In this case,only present value of future cash flows is available,hence that is the amount of right-of-use to depreciated over nine year period.

Depreciation=$505000/9years

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7 0
3 years ago
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Answer:

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Explanation:

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6 0
2 years ago
Ivanhoe Company purchased a new machine on October 1, 2017, at a cost of $77,980. The company estimated that the machine has a s
Marysya12 [62]

Answer:

Depreciation for

2017 = $2,540

2018 = $10,160

Explanation:

Provided, Total cost of the machine = $77,980

Estimated salvage value = $6,860

Therefore, value to be depreciated = $77,980 - $6,860 = $71,120

Total life of asset = 7 years

Depreciation for the year 2017 = October to December = 3 months

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Depreciation for the year 2018 = \frac{71,120}{7} = $10,160

Under straight line method depreciation is fixed for each year, but in the given case in 2017 the asset is used only for 3 months, thus depreciation will be charged for 3 months only.

Final Answer

Depreciation for

2017 = $2,540

2018 = $10,160

7 0
3 years ago
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