2u Nay
Part of creating a budget involves anticipating earnings that will be needed for taxes. There are
many types of taxes such as indirect, direct, proportional, regressive, and progressive. The
United States has a progressive income tax. Employers withhold a portion of your earnings to
pay this income tax. Each year, Americans fill out tax returns to report their income to the IRS and
may receive a refund or have to pay money to fulfill their obligation. There are many resources to
aid in this process. Not all people agree with the progressive tax system and some argue for
different methods of tax collection.
Eemy Pearson
als
es
Assessment Introduction
ers
rences
Do you have that calculator? Now that you know the basics about taxes, you will compare the
effects of different tax systems on a specific career path. Imagine you are a working American
who has completed your education. Some members of Congress have proposed changes to the
U. S. federal income tax system. They are debating which type would be most fair and best for
the country
Three plans have been suggested--a 15% flat income tax a simplified progressive plan and a
simple regressive plan. The simplified progressive plan would remove marginal tax rates and
deductions. It would be one set rate based on total income. Everyone wants your opinion, so you
decide to see how each plan would affect you before you select one to support Spin the wheel to
Online
Down Browser
pod

marketing strategies should be established before marketing objectives are decided. t/f

mary's baskets company expects to manufacture and sell 30,000 baskets in 2019 for $5 each. there are 4,000 baskets in beginning finished goods inventory with target ending inventory of 4,000 baskets. the company keeps no work-in-process inventory. what amount of sales revenue will be reported on the 2019 budgeted income statement?

Selected t-account balances for bloomfield company are shown below as of january 31, which reflect its accounting adjustments. the firm uses a calendar-year accounting period, but prepares monthly accounting adjustments.suppliesjan. 31 bal. 1,800 1,800 jan. 31 bal.supplies expensejan. 31 bal. 1,920 1,148 jan. 31 bal.prepaid insurancejan. 31 bal. 1,148 1,148 jan. 31 bal.insurance expensejan. 31 bal. 164 164 jan. 31 bal.wages payablejan. 31 bal. 1,400 1,400 jan. 31 bal.wages expensejan. 31 bal. 6,400 6,400 jan. 31 bal.truckjan. 31 bal. 17,376 17,376 jan. 31 bal.accumulated depreciation -truckjan. 31 bal. 5,068 5,068 jan. 31 bal.a. if the amount in supplies expense represents the january 31 adjustment for the supplies used in january, and $1,240 worth of supplies were purchased during january, what was the january 1 beginning balance of supplies? $answerb. the amount in the insurance expense account represents the adjustment made at january 31 for january insurance expense. if the original insurance premium was for one year, what was the amount of the premium, and on what date did the insurance policy start? amount of the premium $answerthe policy began on answerjune 1july 1august 1september 1october 1november 1 of the previous year.c. if we assume that no beginning balance existed in either in either wage payable or wage expense on january 1, how much cash was paid as wages during january? $answerd. if the truck has a useful life of four years (or 48 months), what is the monthly amount of depreciation expense, and how many months has bloomfield owned the truck? answermonths