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3 years ago

3. From the following, select the tax that is

Business

1 answer:

Natalka [10]3 years ago

5 0

Answer:

A.) Payroll tax: money deducted from a person's salary that is sent to the government by the employer.

Explanation:

Payroll tax refers to the mandatory tax deductions imposed by the government on employees. The employer acts as the tax agent and withholds the taxes on every paycheck. The taxes are remitted to the government after collection.

The term payroll tax is used because the tax is based on the amount earned by employees. Sales tax is the tax imposed on the sale of goods and services. Income tax is imposed on income earned.

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The following information is related to Kingbird Company for 2017.

Sati [7]

Answer:

Net income is $2,474,000

Retained earning for the year 2017 is $2,142,000

Retained earnings balance at December 31, 2017 is $3,123,000

Explanation:

A multi-step income statement is an income statement that shows gross profit and the detailed of each category of expenses and incomes to arrive at the net income of a company for a particular period.

This can be prepared as follows:

Kingbird Company

Mutiple step income statement

for the year ended December 31, 2017

Details $

Sales Revenue 26,100,000

Cost of goods sold (16,100,000)

Gross profit 10,000,000

Operating expenses:

Selling and administrative expenses (4,710,000)

Operating income 5,290,000

Other income (loss):

Gain on the sale of investments 111,000

Write-off of goodwill (821,000)

Loss due to flood damage (391,000)

Interest income:

Interest revenue 71,000

Income before tax 4,260,000

Income taxes for 2017 (1,254,000)

Income after tax 3,006,000

Extraordinary items:

Loss on wholesale div. disp. (net of tax) (441,000)

Loss on wholesale div. op. (net of tax) (91,000)

Net income 2,474,000

Preferred stock dividend (81,000)

Common stock dividend (251,000)

Retained earning for the year 2017 2,142,000

Retained earnings balance, Jan. 1, 2017 981,000

Retained earnings bal., Dec. 31, 2017  3,123,000 

8 0

3 years ago

Use the cost and revenue data to answer the questions. Quantity Price Total revenue Total cost 10 90 900 675 15 80 1200 825 20 7

azamat

Answer:

Check the explanation

Explanation:

Marginal revenue is the revenue earned by selling an additional unit of output. Marginal Revenue for fifteenth unit of output is calculated as below.

Marginal Revenue= $\frac{ATR}{AQ}$ = $\frac{1200 - 900}{15 -10} = 60$

Marginal Cost is the additional cost incurred on producing additional unit of output. Marginal Cost for fifteenth unit is calculated as below.

Marginal Cost= $\frac{ATC}{ AQ} =\frac{825-675}{15-10} =30$

The marginal revenue when the quantity is 25 is

The marginal Cost when the quantity is 15 is

The marginal profit of a monopoly is 0 when the marginal profit is equal to the marginal cost. The monopoly produces at an output where the marginal profit is equal to zero.

Thus, the output produced by the monopoly is

The corresponding price set is at $70.

120 units

A perfectly competitive market produces an output where the marginal cost is equal to

the average revenue. Thus a competitive firm produces

The corresponding price is set at $50.

130 units)

The monopoly price $70 is higher than the competitive firm's price $50.

Hence, the correct option is

7 0

3 years ago

In the United States, ownership of intellectual property rights is established by "prior use versus registration" which implies

timurjin [86]

Answer:

D. prove the ownership of a trademark in a court of law

Explanation:

The intellectual property laws in the united states is under the Federal laws and are directly followed by the constitution for the copywriter and the patents and only the federal govt has the power to make laws and the ability to regulate commerce.

3 0

3 years ago

Alto and Solo are all-equity firms. Alto has 2,400 shares outstanding at a market price of $24 a share. Solo has 4,000 shares ou

Novosadov [1.4K]

Answer:

$100

Explanation:

Alto's share value = (2,400 × $24) = $57,600

Alto's total value = Share value + Incremental value of acquisition = $57,600 + $5,500 = $63,100

Net present value (NPV) = Alto's total value - Cost of acquisition = $63,100 - $63,000 = $100

Therefore, the net present value of acquiring Alto to Solo is $100.

7 0

3 years ago

Borrowers choosing an adjustable-rate mortgage

Leviafan [203]

Answer:

okok

Explanation:

3 0

2 years ago