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The table below shows hypothectical figures of revenue and spending for the Canadian government. For simplicity, assume that the spending grants to other levels of government were spent in Canada on goods and services. REVENUES Personal income taxes Corporate income taxes Federal Government's Budget Plan for Fiscal Year ($billion). OUTLAYS $100 34 7 47 14 Other revenues 18 Total Revenues 220 a. The projected NTR in this budget plan is $ 220 billion. b. The value of NTR less government spending on goods and services (G) is $ Round your answers to 1 decimal place. c. The percentage of total revenue made up by personal income taxes is 45.5 %. Other income taxes GST and excise taxes EI premiums Transfers to persons Spending grants to other levels of government Public debt charges Direct program spending Total Outlays Projected Budget Plan Surplus 6 billion. $46 38 35 95 214 6

The table below shows hypothectical figures of revenue and spending for the Canadian government. For simplicity, assume that the spending grants to other levels of government were spent in Canada on goods and services. REVENUES Personal income taxes Corporate income taxes Federal Government's Budget Plan for Fiscal Year ($billion). OUTLAYS $100 34 7 47 14 Other revenues 18 Total Revenues 220 a. The projected NTR in this budget plan is $ 220 billion. b. The value of NTR less government spending on goods and services (G) is $ Round your answers to 1 decimal place. c. The percentage of total revenue made up by personal income taxes is 45.5 %. Other income taxes GST and excise taxes EI premiums Transfers to persons Spending grants to other levels of government Public debt charges Direct program spending Total Outlays Projected Budget Plan Surplus 6 billion. $46 38 35 95 214 6

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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S The table below shows hypothectical figures of revenue and spending for the Canadian government. For simplicity, assume that all of the spending grants to other levels of government were spent in Canada on goods and services. REVENUES Personal income taxes Corporate income taxes Other income taxes GST and excise taxes EI premiums Federal Government's Budget Plan for Fiscal Year ($billion) OUTLAYS $100 34 7 47 14 18 Transfers to persons Spending grants to other levels of government Public debt charges Direct program spending Total Outlays Projected Budget Plan Surplus Other revenues Total Revenues 220 a. The projected NTR in this budget plan is $ 220 billion. b. The value of NTR less government spending on goods and services (G) is $ Round your answers to 1 decimal place. c. The percentage of total revenue made up by personal income taxes is 45.5%. 6 billion. $46 38 35 95 214 6
Transcribed Image Text:S The table below shows hypothectical figures of revenue and spending for the Canadian government. For simplicity, assume that all of the spending grants to other levels of government were spent in Canada on goods and services. REVENUES Personal income taxes Corporate income taxes Other income taxes GST and excise taxes EI premiums Federal Government's Budget Plan for Fiscal Year ($billion) OUTLAYS $100 34 7 47 14 18 Transfers to persons Spending grants to other levels of government Public debt charges Direct program spending Total Outlays Projected Budget Plan Surplus Other revenues Total Revenues 220 a. The projected NTR in this budget plan is $ 220 billion. b. The value of NTR less government spending on goods and services (G) is $ Round your answers to 1 decimal place. c. The percentage of total revenue made up by personal income taxes is 45.5%. 6 billion. $46 38 35 95 214 6
place. c. The percentage of total revenue made up by personal income taxes is d. The percentage of total revenue made up by corporate income taxes is e. The percentage of total outlays made up by transfer payments to persons is 21.50 %. f. The percentage of total outlays made up by public debt charges is 45.5%. 15.45 %. 40 %.
Transcribed Image Text:place. c. The percentage of total revenue made up by personal income taxes is d. The percentage of total revenue made up by corporate income taxes is e. The percentage of total outlays made up by transfer payments to persons is 21.50 %. f. The percentage of total outlays made up by public debt charges is 45.5%. 15.45 %. 40 %.
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