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3 years ago

A progressive tax system: __________

Business

1 answer:

otez555 [7]3 years ago

5 0

Answer:

a) Means higher marginal tax rates at higher income levels.

Explanation:

The progressive tax system is a system where the rate of the taxes according to the increased in the taxable amount. It generally applied to the personal income taxes that means if the people have the less income so less tax rate would be applied and if the people have the high income so high tax rate is applied

Therefore as per the given situation, the option a is correct

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the body that determines how taxes will be used to support schools, what will or will not be taught, and the length of the schoo

DerKrebs [107]

The body that determines how taxes will be used to support schools, what will or will not be taught, and the length of the school day and year is the . state legislature.

State Legislature is the frame that determines how taxes will be used to aid colleges, what is going to or will no longer learn, and the length of the college day and year.

The protection and control of public schools is essentially the duty of the state legislature. The formation, choice, and manage of the curricula, educational techniques, and substances used in schools are all relatively prompted with the aid of the states.

Learn more about State Legislature here:-brainly.com/question/24315255

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1 year ago

Strickland Company owes $202,900 plus $18,600 of accrued interest to Moran State Bank. The debt is a 10-year, 10% note. During 2

Vesnalui [34]

Answer:

a. Strickland Company (Debtor)

Date Account Title and Calculation Debit Credit

Notes payable $202,900

Interest payable $18,600

Accumulated depreciation (Machine) $218,689

Machine $397,600

Gain on disposition of machine $7,080

(186,000 + 397,000 - 218,680)

Gain on debt restructuring $35,500

[(202,900 + 18,600) - 186,000]

Moran State Bank (Creditor)

Date Account Title and Calculation Debit Credit

Machine $186,000

Allowance for Doubtful accounts $35,000

Notes receivable $202,900

Interest receivable $18,600

b. Gain on machine disposition and the gain on debt restructuring should be reported as an ordinary gain in the income statement.

c. Strickland Company (Debtor)

Date Account Title and explanation Debit Credit

Notes payable $202,900

Interest payable $18,600

Common stock $112,000

Additional paid-in-capital $74,000

Gain on debt restructuring $35,500

Moran State Bank (Creditor)

Date Account Title and explanation Debit Credit

Investment Trading $186,000

Allowance for Doubtful accounts $35,500

Notes receivable $202,900

Interest receivable $18,600

7 0

3 years ago

This year Randy paid $29,050 of interest on his residence. (Randy borrowed $464,000 to buy his residence, and it is currently wo

Luden [163]

Answer:

the last part of the question is missing, so I looked for it:

a. Randy received $2,200 of interest this year and no other investment income or expenses. His AGI is $75,000.

b. Randy had no investment income this year, and his AGI is $75,000.

a) Randy can deduct $31,575:

the mortgage interest is deductible
the car loan interest is not deductible
he can deduct $4,725 - $2,200 = $2,525 as investment interest expense

b) Randy can deduct $29,050

the mortgage interest is deductible
the car loan interest is not deductible
since he had no investment revenue, he cannot deduct any investment interest expense

5 0

3 years ago

Increases in the minimum wage are intended to raise the incomes of low-income workers. Many economists favor a different policy

Stels [109]

Answer:

The Earned Income credit

Explanation:

Many economists choose the earned income credit (EIC) over the increase in minimum wage because it avoids deadweight losses. Deadweight losses results when supply are demand are not in equilibrium (Market Inefficiency). Increases in minimum wages invariably leads to increase in prices of market goods which are overpriced. This leads to market Inefficiency.

So in trying to help low income earners, many economists choose the EIC over just increasing minimum wage.

The earned Income Credit helps certain tax payers with low incomes from work in a particular tax year. It reduces the amount of tax owed and may result in a refund to the tax payers if the amount of credit is greater than the amount of tax owed.

8 0

3 years ago

The following data represent quantities of tea leaf pluckings (tender shoots from tea plants) from sixteen different plots of te

mr_godi [17]

Answer:

Explanation:

1) $H_0$ : All group means equal or $\mu _1=\mu _2=\mu _3=\mu _4$