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maxonik [38]
3 years ago
13

Say that Thailand has a workforce of 35,709,487 people, each of whom earns an average salary of (equivalent USD) $8,630 annually

. If the Thai government wants to raise $70 billion in tax revenue, approximately where should it set the income tax rate? a. 5% b. 15% c. 23% d. 29% Please select the best answer from the choices provided A B C D
Business
2 answers:
Masteriza [31]3 years ago
5 0

Answer:

The answer is C: 23%

Explanation:

My name is Ann [436]3 years ago
4 0

Answer:

Ans. c) Income tax rate must be 23%

Explanation:

Hi, the total income of Thailand´s workforce is:

Total Income=35,709,487 people*\frac{8,630}{person} = 308,172,872,810

Since Thailand´s government needs to raise $70,000,000,000, the tax rate has to be:

TaxRate=\frac{70,000,000,000}{308,172,872,810} =0.23

So Thailand´s tax rate must be: c. 23%

Best of luck.

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2 years ago
The stockholders’ equity section of Marigold Corp.’s balance sheet consists of common stock ($7 par) $959,000 and retained earni
den301095 [7]

Answer:

Find below the pre stock dividend and post stock dividend effects.

Explanation:

Before the declaration of stock dividend the equity section of the balance sheet would look thus:

Common stock ($7 par)                  $959,000

Paid in capital in excess of par            -

Total paid in capital                         $959,000

Retained earnings                           $410,000

Total shareholders' equity              $1,369,000

However,upon declaration of the stock dividend which would be funded from retained earnings by reducing the retained earnings and increasing the common stock as well as paid in capital in excess of par.

Common stock ($7 par)($7*13,700)+$959,000           $1,054,900                  

Paid in capital in excess of par($18-$7)*13,700            $150,700

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Total shareholders' equity                                              $ 1,369,000

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