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2 years ago

What determines how the burden of tax is divided between buyers and sellers? Why?

Business

2 answers:

Artemon [7]2 years ago

6 0

Answer:

Explanation:

Taxation is the means by which the government gets most of its revenue so it is the duties of private or publicly owned organizations and also the citizen to pay their taxes used by the government to fund all its projects. the taxes generated by the government are then divided among buyers and sellers.

The elasticity of demand is the main determinant of how burden of tax is divided between buyers and sellers.

velikii [3]2 years ago

6 0

Answer:

The elasticity of demand and the elasticity of supply decides how the tax burden is divided among the supplier and the customer.

Explanation:

Elasticity refers to how sensitive the demand or the supply is comparatively to relative changes in the price. This is the major factor that decides the change in the demand and supply once the price increases as a result of the taxes.

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An employee earns $5,550 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400

Klio2033 [76]

Answer:

$4,713.425

Explanation:

The computation of amount of net pay for the employee for the month of January is shown below:-

Deductions = (Gross earning × Social security tax rate) + (Gross earning × Medicare tax rate) + Federal income taxes + Health insurance + Contribution of retirement plan

= ($5,550 × 6.2%) + ($5,550 × 1.45%) + $184 + $152 + $76

= $344.1 + $80.475 + $184 + $152 + $76

= $836.575

Net pay = Gross earning - Deductions

= $5,550 - $836.575

= $4,713.425

Therefore for computing the net pay we simply applied the above formula.

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2 years ago

E6-20 (Algo) Inferring Bad Debt Expense and Determining the Impact of Uncollectible Accounts on Income (Including Tax Effects) a

SVETLANKA909090 [29]

Theres is to much writing sorry hope this helps

8 0

2 years ago

Select all that apply The three-step analysis to determine cash provided or used by investing activities includes: Multiple sele

Tomtit [17]

Answer:

identifying changes in investing-related accounts

reporting the cash flow effects

explaining the changes using T-accounts and reconstructed entries

Explanation:

In analysing cash flows in a business there are 3 types of cash flow: from operating activities, from investing activities, and from financing activities.

Cash flow from investing activities involves cash used for various investments over a particular period.

This can include purchase of property, equipment, acquisition of other businesses, and investment in marketable securities.

The three-step analysis to determine cash for investing activities includes:

- monitoring changes that occurs in investment related accounts

- reporting of cash flow as it relates to investment

- use of T accounts and reconstructed entries to explain changes in cash flow

3 0

2 years ago

As the roman government became more efficient, it took on more functions. to pay for these services, rome ________.

Vanyuwa [196]

The answer to this question is <span>increased taxes on farmers who lived outside of Italy
Larger government will always result in larger government spending (which will led into a higher amount of tax that must be paid). Since roman do not want its people to turn on them due to the increase in tax, Roman government decided to take it from the people outside their empire.

</span>

3 0

2 years ago

Read 2 more answers

Minott Jewelers, Ltd., purchased store fixtures, display cases, and a amaximum security commercial safe for a lump sum price of

valentina_108 [34]

Answer:

the correct answer is $3,500.

Explanation:

According to the scenario, the given data are as follows:

Total purchase = $14,000

Appraised Store fixtures = $6,000

Appraised display cases = $9,000

Appraised Commercial safe = $5,000

So, we can calculate the cost that should be recorded for commercial safe by using following formula:

Cost of commercial safe = Total purchase cost × Percentage allocate for safe

Where, Percentage allocate for safe = Appraised Commercial safe value ÷ Total appraised value

= $5,000 ÷ ( $6,000 + $9,000 + $5,000)

= $5,000 ÷ $20,000

= 25%

So, by putting the value, we get

Cost of commercial safe = $14,000 ÷ 25%

= $3,500.

Hence, the cost that should be recorded for commercial safe is $3,500.

7 0

2 years ago