Universal Basic Income Essays

1. A major part of the club’s income is Membership fees. This is a fee paid by members. It is paid annually at R120 for juniors and R450 for adults. The Membership fees is a fixed amount so that along with additional income it covers the clubs expenses. There are …

There are several uses of Price Elasticity of Demand that is why firms gather information about the Price Elasticity of Demand of its products. A firm will know much more about its internal operations and product costs than it will about its external environment. Therefore, gathering data on how consumers …

Price Elasticity: Price Elasticity is used to explain the degree of responsiveness of the demand for a product to a change in its price. Ep=Percentage change in quality demanded/Percentage change in price (Ep=Price Elasticity) Practical applications of Price Elasticity: 1)Helps in fixing the prices of different goods: It helps a …

The primary objective of this memo supports the company’s position to record four specific transactiosn questioned by an external auditing firm, Peal, Gower, and Quill. Caltron Computers operates with the upmost integrity in a financial accounting and operational basis. Creative accounting methods can inaccurately present an organization’s financial income (Laura, …

Natalie hires an assistant at an hourly wage of $8 to help with cookie making and some administrative duties.
Natalie teaches the class that was booked on November 25. The balance out- standing is received. Cookie Creations receives a check for the amount due from the neighborhood school for the class …

FACTS: Peaceful, an accrual basis taxpayer, provides a full line of funeral services and sells goods related to those services. Peaceful has attempted to design an approach that allows customers to prepay for their funeral goods and services. ISSUE: The amount prepaid under Peaceful’s program constitutes prepaid income that must …

1a). How is the $300,000 treated for purposes of federal income tax? The $300,000 that John Smith received would be treated as income. According to the IRS, income is classified as “earned income includes all the taxable income and wages you get from working,” such as: •wages, salaries, tips, and …

a. What are the major classifications on an Income Statement? Sales, Cost of Goods Sold (COGS), OPERATING PROFIT (Includes A&M (Advertising & Marketing), G&A (General & Administrative Expenses)), OIOE (Other Income & Other Expenses), Earnings Before Interests and Taxes (EBIT) and Net Income. b. Explain why, under GAAP, companies are …

The majority of dollars collected by the U.S. government come by way of corporate taxation. Prior to the Sixteenth Amendment direct taxes were illegal. All U.S. taxes are based on an individual’s income. Customs taxes are imposed on exports to protect our natural resources from leaving the country. Also, some …

The purpose of this paper is to determine why the Financial Accounting Standard Board (FASB) set-up the codification of Generally Accepted Accounting Principles (GAAP). In the following paragraphs the purpose and reason are defined. The break-down of the nine main areas are described with a break-down of each area. An …