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Find the net value added at factor cost When the net indirect taxes are $60 and the net value added at market
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- Rita Smith, a smart pretty lady, stole £500,000 from a small boutique where she had been employed for 12 years as a bookkeeper. Rita confessed that she had been stealing from the company for eight years and had blown all the proceeds on herself and her family before she was finally caught. The boutique is a small private business and only engages the services of an accountant to prepare the company’s tax returns on an annual basis in order to comply with the HRM Revenue requirement, so the business was never audited. Rita also acted as the store’s “accounting department.” She made deposits, signed cheques and reconciled the store’s bank account. After 4 years of unrelenting temptation, Rita finally gave in. Thereafter, for eight years, she systematically stole money from the boutique using the same method. She would make out a company cheque to herself (in her own true name), sign it and deposit the proceeds in her personal bank account. To cover the theft,…An insurance company is covered by occurrence reinsurance with a layer of 750 and an attachment of 250. In a given year, it experiences individual loss occurrences of 50, 850, 300, and 2,100. What are the annual aggregate gross and net loss amounts for the company?The real interest rate is: Select one: always charged on capital stocks. the percentage increase in purchasing power that the lender receives on a loan. also called the after-tax interest rate. usually higher than the nominal interest rate. the percentage increase in money that the lender receives on a loan.
- Tim lives in Vancouver and runs a business that sells pianos. In an average year, he receives $733,000 from selling pianos. Of this sales revenue, he must pay the manufacturer a wholesale cost of $433,000; he also pays wages and utility bills totalling $257,000. He owns his show room; if he chooses to rent it out, he will receive $13,000 in rent per year. Assume that the value of this show room does not depreciate over the year. Also, if Tim does not operate this piano business, he can work as a paralegal, receive an annual salary of $23,000 with no additional monetary costs, and rent out his show room at the $13,000 per year rate. No other costs are incurred in running this piano business.Value added tax is part of direct taxes True False Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.A graduated income tax system means: (a) Only taxable incomes above a certain level pay any taxes (b) A higher flat rate goes with all of the taxable income (c) Higher tax rates go with higher taxable incomes (d ) Rates are indexed each year to keep up with inflation
- Tax- adjusted user cost of capital is a. Decreasing in the taxes that firms pay b. Increasing in the taxes tht firms pay c. Decreasing in depreciation rate s. Decreasing in the real interest rateCompute the number of blocks that an ice plant must be able to sell per month to break-even based on the following data: Cost of electricity - P20.00/block Tax to be paid - P2.00/block Real estate tax - P3,500/month Salaries and wages - P25,000/month Others - P 12,000/month Selling price of ice - P 55/blockAt the beginning of the year, an audio engineer quit his job and gave up a salary of $175,000 per year in order to start his own business, Sound Devices, Inc. The new company builds, installs, and maintains custom audio equipment for businesses that require high-quality audio systems. A partial income statement for the first year of operation for Sound Devices, Inc., is shown below: Revenues Revenue from sales of product and services $970,000 Operating costs and expenses Cost of products and services sold 355,000 Selling expenses 155,000 Administrative expenses 45,000 Total operating costs and expenses $555,000 Income from operations $415,000 Interest expense (bank loan) 60,000 Legal expenses 88,000 Corporate income tax payments 90,000 Net income $177,000 To get started, the owner of Sound Devices spent $100,000 of his personal savings to pay for some of the capital equipment used in the business. During the first year of operation, page 34the owner of Sound Devices could have earned…