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2 years ago

Which of the following is the correct answer to the question: Why do smokers pay almost all the taxes assessed on cigarettes?

Business

1 answer:

Temka [501]2 years ago

4 0

Answer:

The correct answer is option II.

Explanation:

When a tax is imposed on a commodity, the tax burden is shared between the buyers and the sellers. The share of tax burden depends upon the elasticity of demand and elasticity of supply.

In the case of cigarettes, most of the tax burden is borne by the buyers. This is because the demand for cigarettes is relatively inelastic. Cigarettes are addictive so even if its price increases due to the imposition of the tax, the buyers will still purchase the same amount as they are addicted to it.

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Campus Theater adjusts its accounts every month. The company's unadjusted trial balance dated August 31, current year, appears a

svetlana [45]

Answer:

Debit Rental expense $18,240 Credit Prepaid Rent expense $18,240

Debit depreciation$840 Credit Accumulated depreciation on Building $840

Debit depreciation $720 Credit Accumulated depreciation on fixtures and equipment $720

Debit Interest expense $1,800 Credit Accrued interest payable $1,800

Debit Unearned admission Revenue $600 Credit Revenue $600

Debit Accounts Receivable $2,700 Credit Concession Revenue $2,700

Debit Salaries expense $2,040, Credit Salaries Payable $2,040

Debit Income tax Expense $5,040 Credit Current Tax Payable $5,040

Debit Utility expense $12,600 Credit Utility bills $12,600

Explanation:

Depreciation : Building = 201,600/240 = $840

4 0

2 years ago

Behavioral therapies use applications of ____

valentina_108 [34]

<span>Behavioral therapies use applications of the behavior itself. The behavioral therapy is said to be broad or the umbrella term for various therapies such as psychotherapy, behavioral, or more other therapies. The behavioral therapy is helping another individual with their behavior and characteristics.</span>

3 0

2 years ago

Which are examples of copyrighted online materials? Check all that apply. an article from an Internet magazine lyrics for a song

agasfer [191]

Answer:

The correct options are;

Photos taken by a student in his blog

An illustration sold by an artist on her website

An excerpt from a novel published in 1913

Explanation:

With the copyright law the holder of a copyrighted material has the exclusive authority to grant permission to others to create from, copy, distribute, or display in public, the copyrighted material.

A copyright is said to have expired and to be in public domain (with automatic permission to use) when it has been up to 120 years since it was created. Government created material are not covered by the copyright law and can be used

Copyright material can only be used without the express permission of the copyright owner when it is covered by the TEACH Act of the usage must be taken as "fair use"

Therefore,

1) photos taken by a student in his blog

2) An illustration sold by an artist on her website

3) An excerpt from a novel published in 1913 are copyrighted online materials.

7 0

2 years ago

Read 2 more answers

Janice Carrillo, a Gainesville, Florida, real estate developer, has devised a regression model to help determine residential

Karolina [17]

Answer:

i just need points

Explanation:

8 0

1 year ago

The following events apply to Tracey’s Restaurant for the 2016 fiscal year:1. Started the company when it acquired $21,000 cash

Rom4ik [11]

Answer:

Tracey's Restaurant

a) Accounting equation and effects of each accounting event:

Asset = Liabilities + Owners' Equity

1. Assets: Cash +$21,000 = Liabilities + Owner's Equity +$21,000

Effect: Cash is increased and Owner's Equity increased by $21,000.

2. Assets: Equipment +$22,000, Cash -$22,000 = Liabilities + Equity

Effect: Equipment is increased and Cash decreased by $22,000.

3. Assets: Cash +$32,000 = Liabilities + Equity: Retained Earnings +$32,000

Effect: Cash is increased and Retained Earnings are increased by $32,000.

4. Assets: Cash -$16,000 = Liabilities + Equity: Retained Earnings -$16,000

Effect: Cash decreases and Retained Earnings are decreased by $16,000.

5. Assets: Cash -$6,000 = Liabilities + Equity: Retained Earnings -$6,000

Effect: Cash decreases and Retained Earnings are decreased by $6,000.

6. Assets: Equipment -$4,000 = Liabilities + Equity: Retained Earnings -$4,000

b) Depreciation for 2017 Income Statement:

Depreciation = ($22,000 - $2,000)/5 = $4,000

c) Accumulated Depreciation for December 31, 2017 Balance Sheet:

Depreciation for 2016 = $4,000

Depreciation for 2017 = $4,000

Total Accumulated Depreciation for 2017 = $8,000

d) Cash flow from operating activities would not be affected by depreciation in 2017. Depreciation is not a cash flow item. It is an accounting estimate, purely based on judgement, which management uses to spread the costs of a fixed asset over its productive years.

Explanation:

a) The accounting equation or the balance sheet equation shows that assets or resources owned by an entity are equal to its Liabilities or future financial obligations and Equity or the owner's share in the business.

At each point in time, and with each transaction, this equation always balances.

b) A transaction may affect either side of the equation to keep it in balance.

c) The purchase of cooktop (Equipment) affected two assets: Equipment and Cash. The Equipment Account increased in value and the Cash Account decreased in value by the same amount.

d) Depreciation of a fixed asset does not affect the operating cash flow. This means that there is no cash flow at the time of depreciation. By its nature, depreciation is an accounting technique which helps to spread the cost of a fixed asset. It accords with the accrual and matching principles which try to ensure that each period's cost is matched to it revenue.

4 0

1 year ago