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3 years ago

Why do we have a graduated income tax?

Business

1 answer:

Julli [10]3 years ago

3 0

Answer:

Progressive taxes are imposed in an attempt to reduce the tax incidence of people with a lower ability to pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay.

Explanation:

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Southeast Airlines had pretax earnings of $30 million, including a gain on disposal of a discontinued operation of $5 million. T

klasskru [66]

Answer:

Income tax expense of $14 million should report in the income statement

Explanation:

Southeast Airline should report the income on the basis of their earning in the year.

Earning Before Tax = $30 Million

Tax on Earning Before Tax = $30 Million x 40% = $12 million

Gain on disposal = $5 million

Tax on Gain on disposal = $5 million x 40% = 2 million

Total Income tax = $12 million + $2 million = $14 million

Another way

Total Income tax = ( $30 million + $5 million ) x 40% = $14 million

6 0

3 years ago

Who is deadmau5????????????

emmasim [6.3K]

Answer:

Joel Thomas Zimmerman, known professionally as Deadmau5, is a Canadian electronic music producer, DJ, and musician. Zimmerman produces a variety of styles within the progressive house genre and sometimes other forms of electronic music

Explanation:

8 0

4 years ago

Next year's sales forecast shows that 20,000 units of Product A and 22,000 units of Product B are going to be sold for prices of

kramer

Answer:

(A) c. $464,000

(B) c. 20,400 units

(C) d. 22,500 units

Explanation:

a. The computation of the total budgeted sales of both products is shown below:

= Product A sales units × selling price per unit + Product B sales units × selling price per unit

= 20,000 units × $10 + 22,000 units × $12

= $200,000 + $264,000

= $464,000

b. For computing the budgeted purchase, first we need to find out the ending inventory which is shown below:

Ending inventory = Beginning inventory + (Beginning inventory × increase rate)

= 2,000 units + 2,000 units × 20%

= 2,000 units + 400 units

= 2,400 units

Now the budgeted production would be equal to

= Foretasted sales + ending inventory - Beginning inventory

= 20,000 units + 2,400 - 2,000 units

= 20,400 units

(C) The computation of the budgeted production is shown below:

= Foretasted sales + ending inventory - Beginning inventory

= 22,000 units + 3,000 - 2,500 units

= 22,500 units

5 0

4 years ago

The manager of the Quick Stop Corner Convenience Store (which never closes) sells four cases of Stein beer each day. Order costs

horsena [70]

Answer:

At 12 cases the stein beer should reordered by him.

Explanation:

The reorder level is that level in which the company setup a new manufacturing unit so that they can fulfill the needs of the customers and attains the customer satisfaction as much as they can.

For computing the reorder level of the stein beer, the computation is shown below:

Reorder level = Daily unit sales ×elivery lead time

= 4 × 3 d

= 12 cases

The other cost like ordering cost, carrying cost or holding cost, per unit cost is irrelevant while computing the reorder point. Therefore, it is not considered in computation part.

Thus, the reorder level is 12 cases

Hence, at 12 cases the stein beer should reordered by him.

5 0

3 years ago

CCC currently has sales of $26,000,000 and projects sales of $32,500,000 for next year. The firm's current assets equal $10,000,

vladimir2022 [97]

Answer: $1,025,000

Explanation:

Given that,

Current sales = $26,000,000

Projects sales = $32,500,000

Current assets = $10,000,000

Fixed assets = $9,000,000

Fixed assets will rise by $500,000

Accounts payable = $5,000,000

Long-term debt = $3,500,000

Common equity = $10,500,000

dividends = $900,000

net profit margin = 5%

Additional Funds Needed(AFN) can be calculated with the use of following formula:

AFN:

= $[(\frac{Current assets}{sales})\times(Revised\ Sales) + Revised\ Fixed\ Assets] - [(\frac{Spontaneous liabilities}{sales} )\times(Revised\ Sales) + Long\ Term\ Debt] - [Current\ Equity + Revised\ Net\ Income - Dividends]$

= $[(\frac{10,000,000}{26,000,000})\times(32,500,000) + (9,000,000 + 500,000)] - [(\frac{5,000,000}{26,000,000} )\times(32,500,000) + 3,500,000] - [10,500,000 + 5%\times32,500,000 - 900,000]$

= $22,000,000 - $9,750,000 - $11,225,000

= $1,025,000

6 0

4 years ago

Why do we have a graduated income tax?​

Why do we have a graduated income tax?