Homework Answers
(A) sales $200 * 15% = $ 30 VAT PAYBLE
(B) car dealer is a individual that is why he is not allow input tax on purchase so that he will pay tax on sales i.e.
= 11000 * 15% = 1650 retail sales tax payble
( C) sale = 11000
less purchase = 5000
net tax payble 6000 * 15 = 900 vat payble
Add Answer to:
(1) Assume that the production chain for an economy is characterized by the following transactions: Purchases...
aelyn Graham ACCO 124 Quiz #1 1. Consider the following transactions: RDK Manufacturers sold twenty-four (24)...
aelyn Graham ACCO 124 Quiz #1 1. Consider the following transactions: RDK Manufacturers sold twenty-four (24) cases of cooking oil to Rhonda's Wholesale at a cost of $80 per case. Rhonda's Wholesale then sold twenty-two (22) cases to a retailer, Jacob at a cost of $90 per case. Gerald, a consumer, buys five (5) cases from Jacob at a cost of $100 per case. o Gerald was given a 10% cash discount All transactions are subject to Value Added Tax...
Tremaine would like to organize UTA as either an S Corporation or a C corporation. In...
Tremaine would like to organize UTA as either an S Corporation or a C corporation. In either form, the entity will generate a 10 percent annual before-tax return on a $1,000,000 investment. Tremaine’s marginal income tax rate is 37 percent and his tax rate on dividends and capital gains is 23.8 percent (including the net investment income tax). If Tremaine organizes UTA as an S corporation he will be allowed to claim the deduction for qualified business income. Also, because...
Fred Gowen opened Gowen Retail Sales as a sole proprietorship and recorded the following transactions during...
Fred Gowen opened Gowen Retail Sales as a sole proprietorship and recorded the following transactions during his first month in business: 1. Purchased $50,000 of fixed assets, putting 15% down and borrowing the remainder. 2. Sold 1,000 units of product at an average price of $45 each. Half of the sales were on credit, none of which had been collected as of the end of the month. 3. Recorded cost of goods sold of $21,000 related to the above sales....
On January 1 of this year, Shannon Company completed the following transactions (assume a 8% annual...
On January 1 of this year, Shannon Company completed the following transactions (assume a 8% annual interest rate): (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) 1. Bought a delivery truck and agreed to pay $61,400 at the end of three years. 2. Rented an office building and was given the option of paying $11,400 at the end of each of the next three years or paying...
Assume a wholly-owned subsidiary in country A (tax rate = 32%) makes 500 units of a...
Assume a wholly-owned subsidiary in country A (tax rate = 32%) makes 500 units of a product for $200 each and sells them to the parent company in country B (tax rate = 24%) for 360 USD each. The parent then sells them for 480 USD each in country B. The company has no other costs or sources of revenue. Given this information, answer the following questions. 1- How much corporate income tax will be paid in Country A? 2-If...
Andrea would like to organize SHO as either an LLC (taxed as a sole proprietorship) or...
Andrea would like to organize SHO as either an LLC (taxed as a sole proprietorship) or a C corporation. In either form, the entity is expected to generate an 11 percent annual before-tax return on a $620,000 investment. Andrea’s marginal income tax rate is 35 percent and her tax rate on dividends and capital gains is 15 percent. Andrea will also pay a 3.8 percent net investment income tax on dividends and capital gains she recognizes. If Andrea organizes SHO...
After Tax Cash Flow - LLC and C Corporation
Andrea would like to organize SHO as either an LLC (taxed as a sole proprietorship) or a C corporation. In either form, the entity is expected to generate an 9 percent annual before-tax return on a $290,000 investment. Andrea’s marginal income tax rate is 35 percent and her tax rate on dividends and capital gains is 15 percent. Andrea will also pay a 3.8 percent net investment income tax on dividends and capital gains she recognizes. If Andrea organizes SHO as an LLC,...
Required information [The following information applies to the questions displayed below.] Andrea would like to organize...
Required information [The following information applies to the questions displayed below.] Andrea would like to organize SHO as either an LLC (taxed as a sole proprietorship) or a C corporation. In either form, the entity is expected to generate an 10 percent annual before-tax return on a $320,000 investment. Andrea's marginal income tax rate is 35 percent and her tax rate on dividends and capital gains is 15 percent. Andrea will also pay a 3.8 percent net investment income tax...
4-1 Sine WU T I DL (Lacluueu) benelits worth $5,000. What is the amount of Rick's...
4-1 Sine WU T I DL (Lacluueu) benelits worth $5,000. What is the amount of Rick's after-tax compensation for the competing offer? Which job should he take if taxes are the only concer? 31. Through November, Cameron has received gross income of $120,000. For Decem- b er, Cameron is considering whether to accept one more work engagement for the year. Engagement I will generate $7,000 of revenue at a cost to Cameron of $3,000, which is deductible for AGL In...
Macroeconomics When taxes induce people to change their behaviour—such as inducing Jane to buy less pizza—the taxes cause deadweight losses and make the allocation of resources less efficient. As we have already seen, much government revenue comes from th
When taxes induce people to change their behaviour—such as inducing Jane to buy less pizza—the taxes cause deadweight losses and make the allocation of resources less efficient. As we have already seen, much government revenue comes from the individual income tax in many countries. In a case study in Chapter 8, we discussed how this tax discourages people from working as hard as they otherwise might. Another inefficiency caused by this tax is that it discourages people from saving.Consider a...
aelyn Graham ACCO 124 Quiz #1 1. Consider the following transactions: RDK Manufacturers sold twenty-four (24) cases of cooking oil to Rhonda's Wholesale at a cost of $80 per case. Rhonda's Wholesale then sold twenty-two (22) cases to a retailer, Jacob at a cost of $90 per case. Gerald, a consumer, buys five (5) cases from Jacob at a cost of $100 per case. o Gerald was given a 10% cash discount All transactions are subject to Value Added Tax...
On January 1 of this year, Shannon Company completed the following transactions (assume a 8% annual interest rate): (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) 1. Bought a delivery truck and agreed to pay $61,400 at the end of three years. 2. Rented an office building and was given the option of paying $11,400 at the end of each of the next three years or paying...
Required information [The following information applies to the questions displayed below.] Andrea would like to organize SHO as either an LLC (taxed as a sole proprietorship) or a C corporation. In either form, the entity is expected to generate an 10 percent annual before-tax return on a $320,000 investment. Andrea's marginal income tax rate is 35 percent and her tax rate on dividends and capital gains is 15 percent. Andrea will also pay a 3.8 percent net investment income tax...
4-1 Sine WU T I DL (Lacluueu) benelits worth $5,000. What is the amount of Rick's after-tax compensation for the competing offer? Which job should he take if taxes are the only concer? 31. Through November, Cameron has received gross income of $120,000. For Decem- b er, Cameron is considering whether to accept one more work engagement for the year. Engagement I will generate $7,000 of revenue at a cost to Cameron of $3,000, which is deductible for AGL In...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago