A government collects $600 billion annually in tax revenue. Each year it allocates $35 billion to healthcare and $50 billion for education. What percentage of annual tax revenue is allocated to these two categories of government spending?

Answers

Answer 1
Answer:

Answer:

14.17%

Explanation:

Annual tax revenue = $600 billion

Allocation for healthcare = $35 billion

Allocation for education = $50 billion

total allocation for healthcare and education = ($35 + $50) billion = $85 billion

percentage of these two categories of government spending to the total revenue generated is,

85/600 x 100% = 14.17%

Answer 2
Answer:

The government allocates approximately 14.17% of its annual tax revenue to healthcare and education. This is calculated by dividing the sum of allocations to healthcare and education by the total tax revenue and then multiplying by 100 to convert that to a percentage.

To calculate the percentage of tax revenue allocated to healthcare and education by the government, we first need to add the amounts allocated to each of these sectors. In this case, $35 billion for healthcare plus $50 billion for education makes a total of $85 billion. Then, we divide this sum by the total revenue, which is $600 billion, and multiply the result by 100 to get the percentage.

So, the calculation will look like this:

(($85 billion / $600 billion) * 100) = 14.167%.

Therefore, the government allocates approximately 14.17% of its annual tax revenue to healthcare and education.

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Consider a fast food café of your choice. Apply 4 V’s of Operation. Describe each V as ‘High’, ‘Low’ or ‘Moderate’ with one liner reason.

Answers

Answer:

4 V's of Operation

The 4 V's of operation are Volume, Variety, Variation, and Visibility.  Let us take Mrs. Happy Food Cafe with over 100 outlets in Fiacton Town, as an example to illustrate the 4 V's of operation.

Volume: As a food cafe, the volume of production that will be required for some foods and drinks is so high that their provision requires repetitive tasks.  Based on this, procedures are normally standardized in order to achieve low cost for foods and drinks.  However, it is harder to standardize services, since personal touches are added by the servers based on their individual perceptions and abilities.

Variety: Mrs. Happy Food Cafe tries to bring some variety in her offerings to satisfy the various needs of her customers.  While variety is naturally low in the Food Cafe sector, some cafes like Mrs. Happy Good Cafe, try to satisfy customers' demands by varying the foods with Continental, African, Latino cuisines and dishes.

Variation: At Mrs Happy Food cafes, the food and drinks do not vary much as customers expect to be served the same quality of services at any of their cafes.  This is because the processes are standardized to achieve low cost.  So, the variation is moderate.

Visibility: Customers of Mrs Happy Food cafes are not able to see and track their experiences of the the processes for the food preparation that they order.   But, they can track the processes for the services because services are consumed as they are offered.  So, visibility is 'Moderate," as it is divided between the hard goods and the soft goods.  With respect to goods visibility is 'Low.'  However, with respect to the services the customers' visibility of processes is high.

Explanation:

The 4 V's of operation describe the different characteristics of the processes that various entities use to transform their inputs into outputs of goods and services.  They may be high, low, or moderate.  They include, volume, variety, variation, and visibility.

An analysis and aging of the accounts receivable of Hugh Company at December 31 revealed the following data: Accounts Receivable $900000 Allowance for Doubtful Accounts per books before adjustment (Cr.) 50000 Amounts expected to become uncollectible 56000 The cash realizable value of the accounts receivable at December 31, after adjustment, is:

Answers

Answer:

$844,000

Explanation:

Given that,

Accounts Receivable = $900,000

Credit balance of Allowance for Doubtful Accounts per books before adjustment = $50,000

Expected amount of uncollectible = $56,000

Bad debt expense at the end of the period is determined by subtracting the credit balance of allowance for doubtful accounts from the expected amount of uncollectible.

Bad debt expense:

= Expected amount of uncollectible - Credit balance

= $56,000 - $50,000

= $6,000

At the end of the period, the allowance for doubtful accounts has a balance of $56,000 that are to be uncollectible.

The cash realizable value of the accounts receivable at December 31, after adjustment, is determined by simply subtracting the Allowance for doubtful accounts  from the accounts receivable. It is calculated as follows:

= Accounts Receivable - Allowance for doubtful accounts

= $900,000 - $56,000

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How many units were completed in June?The equivalent units for materials under the weighted-average method are calculated to be?

Answers

Answer:

a) 14,300 units

b)

  Materials:  18,400

Conversion: 16,350

Explanation:

physical count of units:

beginning             2,100

transferred-in     16,300

ending                 (4,100)  

transferred-out   14,300

equialent units for w/a:

transferred-out + percentage of completion ending WIP

Materials: 14,300 + 4,100 x 100% = 18,400

Conversion: 14,300 + 4,100 x 50%  =  16,350

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B. cost
C. equity
D. reduction
E. timesharing

Answers

Answer: A. gainsharing

Explanation:

A Gainsharing system is the one that Ms. Moore recommended because it involves providing employees with a portion of the increase in gains accrued from increased productivity and effectiveness.

Gainsharing ensures that employees are motivated to work harder for the company because they get a share if the company improves its productivity so they will have a vested interest in ensuring that the company becomes better.

Gibson Company paid $12,000 on June 1, 2014 for a two-year insurance policy and recorded the entire amount as Insurance Expense. The December 31, 2014 adjusting entry is A. Debit Prepaid Insurance and credit Insurance Expense, $3,500 B. Debit Prepaid Insurance and credit Insurance Expense, $8,500 C. Debit Insurance Expense and credit Prepaid Insurance, $3,500 D. Debit Insurance Expense and credit Prepaid Insurance, $8,500

Answers

Answer:

None of the options is correct, given the facts in the question.

The appropriate answer is:

Debit Prepaid insurance                             $12,000

Credit Insurance expenses                        $12,000

(Reversal of erroneous posting to insurance expenses)

Debit Insurance expenses                          $3,000

Credit Prepaid insurance                            $3,000

(To record 6 months prepaid insurance amortization)

Explanation:

Prepaid insurance is a payment for insurance policy premium in advance, whose service has not been fully enjoyed.

Gibson Company paid $12,000 for a two-year insurance policy. This was erroneously recorded as an expense. This wrong posting has to be reversed for the purpose of audit trail, as provided by the first journal.

To determine the monthly amortization, simply divide $12,000 by 24 months to arrive $500 amortization monthly. Since we are adjusting for December 31, 2014 (6 months from June 1, 2014), the 2014 amortization will be $500 x 6 months = $3,000. This has to be adjusted for by applying the second journals above.

Audra owns a rental house. She makes mortgage payments of $1,060 per month, which include insurance, and pays $2,700 per year in property taxes and maintenance. Utilities are paid by the renter. What should Audra charge for monthly rent to make $4,500 profit each year?

Answers

Answer:

A $740 cable bill for them to be able to watch shows and have internet.

Explanation:

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