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4 years ago

Macro Company has the following adjusted accounts and balances at June 30:

Business

1 answer:

leva [86]4 years ago

7 0

Answer:

 Debit Credit

$ $

Cash 1000

Account receivable 530

Supplies 690

Prepaid rent 40

Software 190

Equipment 1380

Accumlated depreciation 230

Accumlated Amortization 140

Account payable 80

Income tax payable 30

Unearned revenue 90

Notes payable 1280

Common stock 280

Retained earnings 110

Sales revenue 3530

Interest revenue 50

Depreciation expenses 100

Interest expenses 170

Income tax expenses 100

Office expenses 800

Rent expenses 380

Salaries and wages expenses 640

TOTAL 6020 6020

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The marginal tax rate for a lump-sum tax a. is always positive. b. is zero. c. can take on any value but must be greater than th

o-na [289]

Answer:

b. is zero.

Explanation:

Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.

There are three (3) types of taxation used by the government, these are;

1. Progressive taxation: it involves charging individuals having higher incomes a higher percentage of their total income.

For instance, Citizen A pays 20% on $50,000 and Citizen B pays 15% on $36.000.

2. Proportional taxation: it involves charging both lower and higher income earners equally in proportion to their income.

For instance, Citizen A pays 10% on $50,000 and Citizen B pays 10% on $36,000.

3. Regressive taxation: it involves charging individuals with low incomes a higher percentage of their total income and vice-versa.

For instance, Citizen A pays 15% on $50,000 and Citizen B pays 20% on $36,000.

The marginal tax rate for a lump-sum tax is zero because an additional amount of money would not change it.

7 0

3 years ago

On January 1, Year 1, Samuel Company leases equipment from Lease Corp. The lease agreement specifies five annual payments of $50

Marrrta [24]

Answer:

Cash (Dr.) $50,000

Lease Receivable (Cr.) $50,000

Explanation:

Lessor is the person who leases the item to gain financial benefit from the asset user lease. Lessee is a person who uses the assets but does not owns it so he pays lease rentals. In the given scenario the lease recoding at inception in the lessor books will be cash debit and lease receivable credit.

4 0

3 years ago

The following standards for variable manufacturing overhead have been established for a company that makes only one product:

pantera1 [17]

Answer:

c $4,450 U

Explanation:

The computation of the Variable overhead spending variance is shown below:

= (Standard variable overhead Rate × Actual Hour) - (Actual Rate × Actual Hour)

= ($12 × 400 units × 5.6 hours) - ($31,330)

= $26,880 - $31,330

= $4,450 Unfavorable

The (Actual Rate × Actual Hour) is also called as Actual variable overhead.

All other information which is given is not relevant. Hence, ignored it

3 0

3 years ago

__________ is marketing research to better describe marketing problems, situations, or markets such as the market potential for

Alenkasestr [34]

Answer:

Marketing research is marketing research to better describe marketing problems, situations, or markets such as the market potential for a product or the demographics and attitudes of consumers.

What is marketing research? 

Marketing research is the process of designing, gathering analyzing and reporting information that may be used to solve a specific marketing problem.

3 0

2 years ago

. Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 4 bars and the price is $4. In year

NikAS [45]

Answer:

Nominal GDP in year 1 = $16

Nominal GDP in year 2 = $25

Nominal GDP in year 3 = $36

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

Nominal GDP is GDP calculated using current year prices

Nominal GDP in year 1 = 4 x $4 = $16

Nominal GDP in year 2 = 5 x $5 = $25

Nominal GDP in year 3 = 6 x $6 = $36

5 0

3 years ago