1. Decrease in inventory, increase in cash
2. Increase in machinery (motor lorry) , decrease in cash
3. Decrease motor lorry, increase cash
4. Increase machinery and equipment, increase in accounts payable
5. Increase in office furniture , increase in accounts payable
Answer:
C. $2,444 under applied Estimated manufacturing overhead = $224,550 Estimated machine hours etc
Explanation:
If an individual taxpayer's marginal tax rate is 32 percent and he holds the following assets for more than a year, which gains will be taxed at the lowest rate at the time of sale-----Gains from personal-use property.
What is meant by a marginal tax rate?
The marginal tax rate is the amount of additional tax paid for every additional dollar earned as income. The average tax rate is the total tax paid divided by total income earned.
Tax rate
In a tax system, the tax rate is the ratio at which a business or person is taxed. There are several methods used to present a tax rate: statutory, average, marginal, and effective. These rates can also be presented using different definitions applied to a tax base: inclusive and exclusive
Learn more about marginal tax rate:
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1. A credit card lets you borrow money (up to the given credit limit) and pay it back as and when due. When you make a purchase, the amount will be deducted from your credit limit and when you pay it back, the payment will be added back to your credit limit.
Explanation:
