Suppose the U.S. government has to raise a given amount of tax revenue by taxing two goods with different elasticities of demand. What policy advice could you provide that would minimize the welfare cost of taxation? Do government excise tax policies seem to follow your advice? Give some examples and/or counter-examples.
In: Economics
You are performing an audit test of management’s assertion of proper cutoff for sales revenue transactions for one of your clients. Answer and clearly explain each of the following: A.) What is the purpose of this test? B.) From what accounting period should your evidence be selected? C.) Why would purchase orders from client customers not be a good form of evidence for this test? Be specific
In: Accounting
Perform a comprehensive analysis of food delivery apps ZOMATO . Explain their revenue model . Make a project report on it .
In: Economics
he records of Teal’s Boutique report the following data for the
month of April.
| Sales revenue | $89,500 | Purchases (at cost) | $49,400 | |||
| Sales returns | 1,900 | Purchases (at sales price) | 95,900 | |||
| Markups | 10,500 | Purchase returns (at cost) | 1,900 | |||
| Markup cancellations | 1,600 | Purchase returns (at sales price) | 2,900 | |||
| Markdowns | 8,700 | Beginning inventory (at cost) | 28,799 | |||
| Markdown cancellations | 2,700 | Beginning inventory (at sales price) | 46,400 | |||
| Freight on purchases | 2,300 |
Compute the ending inventory by the conventional retail inventory
method. (Round ratios for computational purposes to 0
decimal places, e.g. 78% and final answer to 0 decimal places, e.g.
28,987.)
| Ending inventory using conventional retail inventory method | $ |
In: Finance
a. Define the price elasticity of demand.
b.Suppose that government would like to maximize tax revenue. Explain why it may be a good idea for the government to lower tax rates for the goods that have very high price elasticities of demand (exceeding one).
c.Suppose that government would like to maximize tax revenue. Explain why it may not be a good idea for the government to lower tax rates for the goods that have very low price elasticities of demand (less than one)
In: Economics
Please calculate the projected financial information for 2019E & 2020E. The growth rate is 21%.
| Revenue | 2017A | 2018A | 2019E | 2020E |
| Total Revenue | $7,766,000 | $7,782,000 | ||
| Cost of Revenue | $4,299,000 | $4,445,000 | ||
| Gross Profit | $3,467,000 | $3,337,000 | ||
| Operating Expenses | ||||
| Selling General and Administrative | $2,303,000 | $2,382,000 | ||
| Total Operating Expenses | $6,760,000 | $7,000,000 | ||
| Operating Income or Loss | $1,006,000 | $782,000 | ||
| Incoming from Continuing Operations | ||||
| Total Other Income/Expenses Net | ($2,000) | ($204,000) | ||
| Earnings Before Interest and Taxes | $1,006,000 | $782,000 | ||
| Interest Expense | ($11,000) | ($12,000) | ||
| income Before Tax | $1,004,000 | $578,000 | ||
| Income Tax Expense | $340,000 | $294,000 | ||
| Net Income From Continuing Ops | $664,000 | $284,000 | ||
| Net Income per Common Share - Basic | 4.91 | 2.22 | ||
| Net Income Applicable to Common Shares | $134,000 | $127,200 |
In: Accounting
The organizations’ Controller has received a notice from the
Canada Revenue Agency (CRA) advising that the organization will be
changing from an Accelerated threshold 1 remitter to an Accelerated
threshold 2 remitter effective with the first pay of the new year.
The Controller has asked you to provide an explanation of why this
change has occurred.
In addition, she wants to understand how this will impact the
statutory remittance schedule. Using the Current Year calendar in
the course material, provide specifics of when the remittances are
due for the January and February bi-weekly payrolls starting with
the first pay date of the new year which is Friday January 5th.
-This is the memo to the Controller - a corworcer
-Why did their remitter type change?
- What is a difference between the threshold 1 and threshold 2 remittance schedules?
- List the new remittance dates for the 4 pay periods ending:
--January 5
--January 19
-- February 2
--February 16
In: Accounting
Splish Brothers Trading uses a perpetual inventory system and
the earnings approach to recognize revenue. The company offers
credit terms to select customer. The following are transactions of
Splish Brothers Trading with some of its customers.
| Feb. 5 | Sold merchandise to Classen for $46,000, terms 1/10, n/60. | |
| 6 | Classen returned $5,200 of merchandise. | |
| 11 | Wrote off an account receivable from B. Wong of $1,600, after making repeated efforts to collect. | |
| 15 | Classen paid Splish Brothers the amount owing. | |
| 28 | Collected $890 from a collection agency who managed to collect an account from Mancini that had been previously written off by Splish Brothers. |
Prepare the journal entries to record the above transactions.
Ignore any inventory or cost of goods sold entries for the purposes
of this question.
In: Accounting
6) A cash flow involves an initial investment of $1, 000 and then generates $70 revenue at the end of each year, starting one year after the initial $1, 000 investment. Find the payback period and discounted payback period (the latter at an effective annual rate of 4%.)
In: Finance
The organizations’ Controller has received a notice from the
Canada Revenue Agency (CRA) advising that the organization will be
changing from an Accelerated threshold 1 remitter to an Accelerated
threshold 2 remitter effective with the first pay of the new year.
The Controller has asked you to provide an explanation of why this
change has occurred.
In addition, she wants to understand how this will impact the
statutory remittance schedule. Using the Current Year calendar in
the course material, provide specifics of when the remittances are
due for the January and February bi-weekly payrolls starting with
the first pay date of the new year which is Friday January 5th.
In: Accounting