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2 years ago

How do taxes affect people from different socio- economic backgrounds ?

Business

2 answers:

natima [27]2 years ago

7 0

Answer:\

Because high-income households pay a larger share of their income in total federal taxes than low-income households, federal taxes reduce income inequality. But federal taxes have done little to offset increasing income inequality over the past 40 years.

Explanation:

nata0808 [166]2 years ago

4 0

Low class, middle class, and high class are all effected. A lot of times, high class pay less taxes even though they make more money. Lower classes pay more I think. Anyways, they are all effective in decreasing money.

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Cullen Company has $235,000 in credit sales, and $164,200 in its Accounts Receivable at the end of the year. The company uses th

S_A_V [24]

Answer:

Net Realizablel Value of Account receivable = $142,850

Explanation:

Particulars Amount

Total Accounts Receivable $164,200

- Pre-adjusted Uncollectable Account balance $7,250

- Current Year Uncollectable Amount $14,100 ($235000*6%)

Net Realizable Value $142,850

4 0

2 years ago

US GAAP and IFRS differ on treatment of impairment of tangible assets as follows:

erik [133]

Answer:

A. IFRS, tangible assets are tested only when factors suggest impairment.

Explanation:

The tested of the tangible assets would be based on some kind of changes that are change in the market value, chnage in the technology, rise or reduction in the rate of interest in the market etc

In addition to this, the intangible assets such as goodwill would be testes on annually basis

Therefore the first option is correct

7 0

2 years ago

Transactions for the Monty Company, which provides welding services, for the month of June are presented below. June 1 Monthly i

Leona [35]

Answer:

Transactions:

1. June 1 Monthly invests $3, 910 cash in exchange for shares of common stock in a small welding business.

2. June 2 Purchases equipment on account for 340.

3. June 3 $760 cash is paid to landlord for June rent.

4. June 12 Bills P. Leonard $410 after completing welding work done on account.

Journal Entries:

June 1 Dr. Cr.

Investment $3,910

Cash $3,910

June 2 Dr. Cr.

Equipment $340

Account Payable $340

June 3 Dr. Cr.

Rent Expense $3,760

Cash $3,760

June 12 Dr. Cr.

P. Leonard (Receivable) $410

Welding Service Revenue $410

6 0

2 years ago

XYZ Company has expected earnings of $3.00 for next year and usually retains 40 percent for future growth. Its dividends are exp

Verizon [17]

Answer:

Price of stock = $40

Explanation:

According to the dividend growth model, the price of a stock is the present value of expected dividend discounted at the required rate of return.

This is done as follows:

Price of a stock = D×(1+r)/(r-g)

D(1+g) - Dividend for next year = 100%-40%× $3 = $1.8

g- growth rate - 10%

r- required rate of return - 15%

Price of stock = 1.8× (1.1)/(0.15-0.1)

= $40

6 0

3 years ago

A machine with a book value of $80,000 has an estimated five-year life. A proposal is offered to sell the old machine for $50,50

34kurt

Answer:

Company should continue with old machine (Alternative 1)

Explanation:

Preparation of a differential analysis dated April 11 on whether to continue with the old machine (Alternative 1) or replace the old machine (Alternative 2)

DIFFERENTIAL ANALYSIS

Continue with old machine(Alternative 1) ; Replace with old machine(Alternative 2); Differential effect on income

REVENUES

Proceeds from sale of machine

$0 $50500 $50500

COSTS

Purchase price $0 -$75000 -$75000

Direct labor -$56000 -$37000 19000

(11200*5 = -56000)

(7400*5 = -37000)

Income (loss) -$56000 -$61500 -$5500

Based on the above differential analysis the Company should continue with OLD MACHINE (Alternative 1)

6 0

2 years ago