Answer:
d. $10.
Explanation:
Tax is a payment made to the government to assist it in financing its various programs. Taxes are the main source of government revenue. Income tax is the tax levied on individuals and firms on their earnings.
Susan and Rebecca enter into a work agreement where Rebecca hires Susan to dog sit for her. Susan will be working and is expected to pay taxes on the income received. Rebeca will be attending a wedding, which is not an income-generating activity; hence she will not pay any taxes. It means only Susan will pay taxes as she is the only one who will be earning. If the tax imposed on dog sitting is $10, then the two ladies will be worse-off by $10.
Answer:
FIFO LIFO Weighted average
Cost of goods sold 1,060 1,380 (1,060 + 1,380)/2 = $1,220
Ending inventory 1,380 1,060 (1,060 + 1,380)/2 = $1,220
Explanation:
Attached is the tabulated solutions
Answer:
1.Jan 01 Dr Cash 360,000
Cr Notes payable 340,000
2.Interest expense 28,800
Principal Reduction 61,364
Explanation:
MM Co.
1 . Journal entry
Since MM Co. borrows $360,000 cash on January 1 from a bank this means we have to
Debit Cash with the amounts of money he borrowed which is $360,000 and Credit Notes Payable with the same amount.
Jan 01 Dr Cash 360,000
Cr Notes payable 340,000
2. Calculation of the amount goes toward interest expense and Principal reduction
Interest expense 28,800
(360,000*8%)
Principal Reduction 61,364
(90,164-28,800)
Answer:
The complete question is given in the explanation box below and the solutions to the problem is shown in the pictures attached herewith accordingly. Thank you.
Explanation:
a. Determine the degrees of freedom for this test.
b. Compute the test statistic.
c. Compute the p-value.
d. What is your conclusion? Let α = .05.
Answer:
The effective rate of protection for Canada’s steel industry is 21%
Explanation:
The computation of the effective rate is shown below:
Steel percentage = (Production worth of steel) ÷ (Taconite worth)
= ($1,000,000) ÷ ($100,000)
= 10%
And the tariff rate for steel is 20%
And the taconite percentage is 10%
So, the effective rate would be equal to
= Tariff rate for steel + taconite percentage × steel percentage
= 20% + 10% × 10%
= 20% + 1%
= 21%
