Explanation:
The journal entries are shown below:
1. Cash A/c Dr $14,200
To Gain on land A/c $2,840
To Land $11,360
(Being the land is sold)
2. Cash A/c Dr $18,900
To Common stock A/c $18,900
(Being the common stock is issued for cash)
3. Depreciation Expense A/c Dr $15,730
To Accumulated Depreciation - Buildings A/c $15,730
(Being depreciation expense is recorded)
4. Salaries expense A/c Dr $8,080
To Cash A/c $8,080
(Being the salaries expense is paid for cash)
5. Equipment A/c Dr $8,420
To Common stock A/c $1,170
To Additional paid-in capital in excess of par value A/c $7,250
(Being the equipment is purchased)
6. Cash A/c Dr $1,236
Accumulated depreciation - Equipment A/c Dr $7,210
Loss on sale of equipment A/c Dr $1,854
To Equipment A/c $10,300
(Being the equipment is sold)
<span>Family A: marginal rate 20%, average rate 10%</span><span>
Family B: marginal rate 40%, average rate 23% </span><span>
The marginal tax rate is the rate paid on the last dollar of income; this would be whatever tax bracket the family is in. The average price is the total tax divided by the total revenue. </span><span>
Family A: </span><span>
</span><span>
total income $40,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), and $10,000 at 20% (tax of $2,000). The last rate paid is 20% so that is the marginal rate; the total tax paid is $4,000, divide that by $40,000 total income, that is the average rate. </span><span>
Family B: </span><span>
</span><span>
total income $100,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), $20,000 at 20% (tax of $4,000), $30,000 at 30% (tax of $9,000), and $20,000 at 40% (tax of $8,000). The last rate paid is 40% so that is the marginal rate; the total tax paid is $23,000, divide that by $100,000 total income, that is the average rate.</span>
There is no industry which can not relay on estimation, all industries needs estimation.
The two primary categories of this profession are construction and manufacturing, according to the Bureau of Labor Statistics. It states that more than half of all cost estimators work in the construction industry, where they may further specialize in projects for homes, businesses, industries, or the government.
Cost estimation aids in setting the project budget, planning the required work, and managing new resources. Cost estimates are also of the utmost importance when trying to win over new clients. Before starting actual building, property owners also utilize cost estimates to evaluate the viability of their projects.
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