Answer:
A.M.T.I = $202,200
Explanation:
Given:
Taxable income during the year = $195,000
Charitable contributions = $7,100
Real estate taxes = $1,700
State income taxes = $5,500
Mortgage interest =$1,700
Computation of A.M.T.I :
A.M.T.I = Taxable income during the year + Real estate taxes + State income taxes
A.M.T.I = $195,000 + $1,700 + $5,500
A.M.T.I = $202,200
Note: Mortgage interest, Charitable contributions are not include in A.M.T.I
Answer and Explanation:
Please find answer and explanation attached
Answer:
National Park Tours Co.
Journal Entries
Sr. No Account Debit Credit
1) Cash 75,000 Dr
Beth Worley Capital 75,000 Cr
Invested in capital.
2) Supplies Expense 900Dr
Cash 900 Cr
Bought Supplies
3) Equipment 8000 Dr
Cash 1600 Cr
Accounts Payable 6400 Cr
Bought Equipment.
4) Operating Expenses 6280Dr
Cash 6280 Cr
Spent on Operating Expenses
5) Accounts Receivable 12300Dr
Fees Earned 12300 Cr
Provided Services on Account.
6) Accounts Payable 2700Dr
Cash 2700 Cr
Paid cash for a liability raised previously.
7) Cash 8,150Dr
Accounts Receivable 8,150 Cr
Received Services fees.
8) Supplies Expenses 660Dr
Supplies 660 Cr
Supplies expenses charged.
9) Beth Worley, Drawing 2500Dr
Cash 2500 Cr
Withdrew for personal use.
Full question:
Classify each possible change listed according to whether it will make small farms more efficient or less efficient based on the information in the Washington Post article Small vs. Large: Which Size Farm Is Better for the Planet:
Plant more disease-resistant crops, reduce the number of different crops planted, avoid planting genetically modified crops, rely more on organic rather than synthetic methods of farming,
Answer and Explanation:
Plant more disease-resistant crops is classified under more efficient and Less costly. The writer believes disease resistant crops increase efficiency as there is reduced occurrence of death of crops and consequent increased losses and costs
Reduce the number of different crops planted is classified under more efficient and less costly. The writer emphasizes specialization in farming whereby for example planting rice or corn should be done alone and not mixed with other crops as this would be less efficient and costly.
Avoid planting genetically modified crops is classified less efficient and more costly. The writer encourages planting genetically modified crops as genetically modified plants are geared towards increased plant product and yield from genetically optimized plants
Rely more on organic rather than synthetic methods of farming is classified less efficient and more costly. In the article, the writer believes chemically induced crops are bad for the environment and don't yield much in efficiency with time
Answer:
$3
$2
$1
False
Explanation:
The burden of tax refers to who pays the tax between the buyer and the seller.
More burden of tax usually falls to the party with the more inelastic demand because the quantity demanded would not change despite the increase in price as a result of the tax.
To find the amount of tax per bottle = price of wine - amount received by producers = $6 - $3 = $3
The amount paid by consumers = price after tax - price before tax = $6 - $4 = $2
Amount received by sellers = tax- amount paid by consumers = $3 - $2 = $1
It can be seen that consumers bear a higher burden of tax because they pay the greater tax. This means they have an inelastic demand.
If the tax had been levied on producers, the effect on quantity demanded would have been greater because producers have a more less elastic supply when compared to consumers .
I hope my answer helps you
