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2 years ago

Which of the following statements about taxes is FALSE?

Business

2 answers:

enot [183]2 years ago

5 0

States dont collect income tax the government does so B

rewona [7]2 years ago

4 0

Answer: The answer is B: Some states don't collect tax.

Explanation:

Taxes are compulsory levies imposed on individuals by the government. It also refers to the money an individual pay to the government in order to provide public services. Taxes are levied to raise revenue for government expenditures. Taxes are used to construct and maintain good roads, build school, provide good sewage system, provide defence, electricity and so on.

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You’ve borrowed $23,072 on margin to buy shares in Ixnay, which is now selling at $41.2 per share. You invest 1,120 shares. Your

BlackZzzverrR [31]

Answer:

(a) Since the percentage margin is more than maintenance margin, there would be no call

(b) A margin call would be received when the price is $15.26

Explanation:

(a) Total investment = $23,072 × $\frac{100}{50}$ = $46,144

Total shares = Total investment ÷ share price

= $46,144 ÷ $41.2 = 1,120

Value of share in market = new price × number of shares

= $41 × 1,120

= $45,920

Value of equity = Value of share in the market - borrowed cash

= $45,920 - $23,072

= $22,848

Percentage margin = Value of equity ÷ Value of shares

= ($22,848 ÷ $45,920) × 100%

= 49.76%

(b) Total number of shares = 1,120

Assumed value of shares = $1,120X

Borrowed fund = $23,072

Value of equity = $1,120X - $23,072

Margin = Value of equity ÷ Value of shares

0.35 = ($1,120X - $23,072) ÷ $1,120X

392X = $1,120X - $23,072

1512X = $23,072

X = $15.26

7 0

2 years ago

Yellco Inc., a toy manufacturer, provided the following information: Domestic unit sales price $50 Unit manufacturing costs: Var

aleksley [76]

Answer:

$540,000

Explanation:

Calculation for The company's differential revenue from the acceptance of the offer

Using this formula

Differential revenue = Number of units of export order * Offer price per unit

Let plug in the formula

Differential revenue=9,000*$60

Differential revenue= $540,000

Therefore the company's differential revenue from the acceptance of the offer is $540,000

4 0

2 years ago

15,000 units in a process that are 70% complete are referred to as:

KengaRu [80]

Answer:

Explanation:

Equivalent units of production helps manufacturing companies determine the average completed or finished products. Additionally, since there are many items in continuous production, without calculation of equivalent units, it would be difficult to determine how much money was incurred in production costs.

Using the formula

The number of partially completed units (15,000) x percentage of completion (70%) = equivalent units of production (10, 500)

5 0

3 years ago

When people reply to formal job announcements, they are writing a(n) ______ cover letter since it is for an open position that a

Zarrin [17]

The choices were; a. informal, b. chronological, c. serialized, d.conversational, e. solicited.

The answer is, e. solicited.
A solicited letter is written by the job hunter to the employer. It indicates the kind of working position the job hunter is applying for and also how she/he had learned there is a job opening in that position.

The employer gets a specific idea on the job hunter's intention and also learn that the ads or announcement reached them.

8 0

2 years ago

The Doral Company manufactures and sells pens. Currently, 5,000,000 units are sold per year at $0.50 per unit. The fixed costs a

SVEN [57.7K]

Answer:

Operating Income = $100,000

Explanation:

1 a. What is the current annual operating income?

Revenue - 5,000,000* $0.5 = 2,500,000

Less: Variable Costs - 5,000,000*$0.3 = 1,500,000

Contribution = 1,000,000 (margin = 1m/2.5m = 40%)

Less: Fixed Costs ....$900.000

Operating Income = $100,000

b. What is the present break even point in revenues?

BEP = FC/Contribution Margin = 900,000/0.4 = $2,250,000

2. A $0.04 per unit increase in variable costs

Revenue - 5,000,000* $0.5 = 2,500,000

Less: Variable Costs - 5,000,000*$0.34 = 1,700,000

Contribution = 800,000

Less: Fixed Costs ....$900.000

Operating Income = ($100,000)

3. A 10% increase in fixed costs and a 10% increase in units sold

Revenue - 5,500,000* $0.5 = 2,750,000

Less: Variable Costs - 5,500,000*$0.3 = 1,650,000

Contribution = 1,100,000

Less: Fixed Costs ....$990.000

Operating Income = $110,000

4. A 20% decrease in fixed costs, a 20% decrease in selling price, a 10% decrease in variable cost per unit and a 40% increase inunits sold.

Revenue - 7,000,000* $0.4 = 2,800,000

Less: Variable Costs - 7,000,000*$0.27 = 1,890,000

Contribution = 910,000

Less: Fixed Costs ....$720.000

Operating Income = $190,000

5.Compute the new breakeven point in units for each of the following changes: A 10% increase in fixed costs

BEP = FC/Contribution Margin = 810,000/0.4 = $2,025,000

6. A 10% increase in selling price and a $20,000 increase in fixed costs

Revised Contribution Margin = 0.55 - 0.3 = 0.25; 0.25/0.55 = 0.4545

BEP = FC/Contribution Margin = 1080,000/0.4545 = $2,376,238

8 0

3 years ago

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