HOW MUCH IS THE COST OF GOODS SOLD? 2. HOW MUCH IS THE COST OF GOODS AVAILABLE FOR SALE? 3. HOW MUCH IS THE NET INCOME BEFORE TAX

Q: Explain the difference between marginal tax rates and average taxrates.

A: Marginal tax rate : The marginal tax rate is the system by which the federal taxation system makes…

Q: Various Income Taxes: Should all types of income be taxed at the same rate? First, relate the…

A: Taxable Income: It is a part of a person's gross income that should be taxed. It is also referred to…

Q: How is sales tax recorded? Is it considered an expense of a business? Why or why not?

A: Most states levy sales taxes on goods and services. Those states differ on what is taxed and for how…

Q: What distinguishes an income tax from other taxes?

A: A tax is a governmental entity's required financial charge or other kind of levy put on a taxpayer…

Q: Answer in points: Question. Difference between average and marginal tax rates

A: Average rate of tax is the amount of taxes paid on total income on average. For example, a business…

Q: How does payments for tax and licenses affect accounting equation

A: The accounting equation shows that the asset is equal to the sum of liabilities and stockholders'…

Q: how does taxes affect Businesses?

A: Taxes According to Tax laws Taxes means the levy of money which was imposed by the government…

Q: What are all type of taxes we need to pay

A: As individuals and as entities we need to pay various direct taxes as well as indirect taxes in our…

Q: What is Income tax payable?

A:

Q: What is Marginal tax rate ?

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Define Income tax paid

A: Income tax paid is a charge or payment made to the government by the individual or the firms in a…

Q: Which of the following is not an income for income tax purposes?

A: Assuming the question related to tax in Phillipines ---…

Q: what are the two components of income tax expense

A: PLEASE LIKE THE ANSWER  Firstly, income tax expense means an amount of tax expense incurred on the…

Q: It is a tax on the value of an article increased at each stage of its production or distribution.…

A: Excise tax is a type of indirect tax employed in case of specific goods (eg. fuel, tobacco,…

Q: What is the name of the amount of money that can bededucted directly from the computed tax, instead…

A: Tax or Taxes: Tax is an amount paid by the persons (individuals and business entities) to a…

Q: Where can I find after tax interest income on a balance sheet or income statement(trying to find…

A: Components of income statement: The income statement is part of the financial statement of the firm.…

Q: What’s the difference between marginal and average tax rates?

A: The taxes are the government source of income from the general public. The tax rate are the…

Q: What are the advantages of an indirect tax such as the VAT compared with an income tax?

A: The objective of this question is to understand the advantages of an indirect tax, specifically…

Q: What is the role of BIR?

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: What are the situs rules on income tax situs on sales of goods?

A: Income tax:A tax charged on the income earned by the individual or corporates by the central…

Q: What is the sales tax? Is it an expense or a liability?

A: Sales tax is the tax on sales which is levied by the government. However, sales tax is an indirect…

Q: What are FUTA and SUTA taxes? Is there any possible reduction in the FUTA tax rate? If so, what is…

A: Introduction: Employer payroll taxes are paid by the employer from its own funds on the basis of…

Q: EBITD is equivalent to profits after taxes. true or false?

A: EBITDA is the earnings before interest tax depreciation and amortization.

Q: The tax rate is the ratio between the amount of tax and the amount of income. true Error

A: >Tax rate is the rate of tax that is levied by the regulating authorities.>Income tax rate is…

Q: What is the tax base for each of the following taxes? Income Tax GST FBT

A: Taxes are the amount of dues that is being payable to the government on account of income earned,…

Q: What is Income tax receivables?

A: Other receivables: Other receivables are the receivables other than the accounts receivable, and the…

Q: How would you differentiate items that are exempted from gross income and items deductible from…

A: Items exempted from gross income refers to income which need not be part of income while calculating…

Q: Discuss the various effects of income taxes on the ability to work, save and invest

A: Income Taxes- Individuals, entities/corporations/firms, and entities/corporations/firms are taxed on…

Q: How do I calculate the amount of sales tax that is included in total receipts?

A: Sales tax = Actual sales * Tax rate

Q: Discuss how a sales tax is regressive.

A: 1. Regressive Tax - Regressive Tax is a tax on the amount which decreases subject to the amount…

Q: 1.How is cost recovery properly assessed that will account for tax benefit?

A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…

Q: What are the additional income taxes?

A: Income tax: Income tax is a tax levied on an individual’s income (taxable income). It is a direct…

Q: How to calculate Value-added tax

A: Value added tax is a type of tax that is charged by the central government on the sale of…

Q: 1. Name three types of tax rate structure and give examples.

A: Hi student Since there are multiple questions, we will answer only first question.

Q: What are the features of final income tax?

A: Introduction:- Final tax is one of the exemptions to the extent of the regular income tax. An…

Q: What are taxes?

A:

Q: Is input tax and output tax shown on the accounting worksheet?

A: 1. Input Tax - Input Tax is a tax on the purchase of the goods or expenses incurred. 2. Output Tax -…

Q: Explain the items of gross income and how to tax them: whether at gross or at net, further…

A: •Gross income means all the income earned by an individual from all thhe sources but before tax…