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3 years ago

David Segal started a business. During the first month (October 20--), the following transactions occurred.

Business

1 answer:

zloy xaker [14]3 years ago

8 0

Answer:

Assets = Liabilities + Owner’s Equity (Capital – Drawing + Revenues – Expenses) = $17,017

Explanation:

Note: See the attached xlsx file for the effect of each transaction on the individual accounts of the expanded accounting equation and the report of the total of each element.

In the attached xlsx file, transaction (c) is treated in such a way that the insurance for the month of October 20—is accounted for under the following:

Prepaid Insurance = One-year insurance premium - (One-year insurance premium / Number of months in a year) = $1,000 - ($1,000 / 12) = $1,000 - $83 = $917

Expenses = One-year insurance premium / Number of months in a year = $1,000 / 12 = $83

Download xlsx

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An individual with a single filing status has an annual income earning of $63,475. Use the 2018 Tax Tiers below to compute the t

Tomtit [17]

Answer:

$9,904

Explanation:

The question is incomplete as it did not contain the 2018 Tax Tiers. The 2018 Tax Tiers can be found on an article published by Forbes (https://www.forbes.com/sites/robertberger/2017/12/17/the-new-2018-federal-income-tax-brackets-rates/#37caf9e1292a). These tiers has been used to answer this question.

With an annual income of $63,475, total amount of tax owed is computed as follows.

Tax rate on income up to $9,525 is 10% = 10% * $9,525 = $952.50

Tax rate on additional income up to $38,700 is 12% = 12% * ($38,700 - $9,525) = $3,501

Tax rate on additional income up to $82,500 is 22% = 22% * ($63,475 - $38,700) = $5,450.50.

We used $63,475 instead of $82,500 in the 3rd bracket due to the limit of the individual's annual income.

Therefore, total tax owed = $952.50 + $$3,501 + $5,450.50 = $9,904.

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3 years ago

Prepare a corrected trial balance by changing incorrect amounts and placing each amount in the proper column.

Oduvanchick [21]

Hii can you please mark me brainliest !! I need it ans the answer is 17,729

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3 years ago

Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant ra

Crank

Answer:

0.6

Explanation:

Variable Expense Ratio is calculated by taking Variable Expense and dividing it by Sales. This ratio indicates how much of the variable expense is incurred by company for each $1 Sales.

So, variable expense ratio is .6 or 60% (33,000 / 55,000).

Such questions also require the calculation of Contribution Margin Ratio which is calculated by taking Contribution Margin and Dividing it by Sales. This ratio tells us how much the company generates after covering variables expenses when the sales are $1.

So, Contribution Margin Ratio is .4 or 40% (22,000 / 55,000).

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3 years ago

In today's organization, many employers appear to prefer to work for a supervisor with a ________ leadership style.

vova2212 [387]

A supervisor in today's work environment needs to be flexible and adaptable. Employees today expect a lot more opportunities to do things such as work from home. Also in today's more technological world, demands on the supervisor and employer change frequently. Because of all of this, employers and employees prefer a people-centered leadership style.

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4 years ago

What is the incidence of a tax?

kap26 [50]

The incidence of a tax is the final burden of a tax.

Explanation:

Taxation has an impact and incidence to a citizen.

To differentiate between a direct and indirect tax, the incidence is taken into consideration.

A direct tax has an impact and is incidental to one person who the tax payer(usually an employee).

An indirect tax has an impact on a tax payer but its incidence may or may not be transferred to the tax payer. Which means the tax payer may transfer the incidence of the tax to another person(usually the final consumer).

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3 years ago